Brookfield Canada Office Properties (NYSE:BOXC) remains an event-driven idea in my book. The reason? BOXC's parent, Brookfield Property Partners (NYSE:BPY) is run by savvy capital allocators and BPY already owns 83% of BOXC and the company is authorized to buy back 5% of the remaining 17% public float via a normal course issuer bid.
While shares haven't performed as well as I would have hoped since I first profiled them last fall, the lower price only indicates a better bargain in my opinion, especially considering that BOXC reported solid 2013 numbers. Investments in out of favor sectors can remain cheap until sentiment turns, and real estate and yield-oriented investments in Canada remain castigated by investors. With...
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