After $1.5B loss, Brookfield Property Partners buys back $426M of stock

Burdened with debt and non-paying tenants, one of the biggest mall operators in the country just poured $426 million into its own stock. Brookfield Property Partners (BPY) bought back 35.5 million shares at a fixed price of $12 per share, according to documents filed with the SEC today. BPY’s share price has not been north of $12 since early June. Brookfield funded the buyback by drawing from a $1 billion equity commitment from its parent

source https://therealdeal.com/2020/09/03/after-1-5b-loss-brookfield-property-partners-buys-back-426m-of-its-stock/