07:01:08 EDT Thu 28 Mar 2024
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or Name
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Brookfield Asset Management Inc
Symbol BAM
Shares Issued 11,982,568
Close 2017-11-13 C$ 24.63
Market Cap C$ 295,130,650
Recent Sedar Documents

Globe says Brookfield makes another big contrarian bet

2017-11-14 08:13 ET - In the News

Also In the News (C-BPY) Brookfield Property Partners LP

The Globe and Mail reports in its Tuesday edition that real estate unit of Brookfield Asset Management is spending big money on U.S. shopping malls just as bricks-and-mortar retailing is being viewed as on the way out. The Globe's David Berman writes that Brookfield has a reputation for making unpopular bets at low prices, which is a tactic that has made this stock a very profitable holding for long-term investors. Over the past decade, BAM's book value has nearly quadruped, to $23.50 a share in 2016 from $6.20 a share in 2006. Although the share price has endured some turbulence, it has delivered an average annualized gain of nearly 16 per cent over the past 20 years. Under chief executive officer Bruce Flatt, Brookfield has shown a remarkable ability to scoop up attractive long-term assets when they are being sold under distressed conditions. Investors may be a touch nervous about Brookfield Property Partners' $14.8-billion (U.S.) bid to buy the rest of mall owner GGP Inc. BPP's share price fell 4.5 per cent on the news on Monday. However, it announced the bid after GGP's share price had tumbled more than 30 per cent from its high in 2016, fitting with Brookfield's interest in distressed sales.

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