Mike Arnold
Long only, small-cap, tech, growth at reasonable price

Brookfield Real Estate Services Is A Cheap, Growing Annuity

Executive summary:

  • A highly recurring revenue stream with low renewal risk should allow Brookfield Real Estate Services ("BRS") to continue to grow its annuity-like cash flow.
  • The fully covered cash dividend was recently increased, and now yields 8.5%.
  • BRS stable shareholder structure includes Brookfield Asset Management ("BAM"), owning a 26% stake.
  • Shares have 30 to 40% upside based on a discounted cash flow ("DCF") analysis, and limited downside based on the business model and psychological factors of a nearly double-digit dividend yield.

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Investors looking to hide out from continued equity market volatility may want to consider little known, Brookfield Real Estate Services [(OTCPK:BREUF)(BRE.TO)] ("BRS"). Not only is BRS undervalued at its current $130 million valuation, but it...

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