In trading on Tuesday, BPY’s 6.50% Class A Cumulative Redeemable Perpetual Preferred Units, Series 1 (Symbol: BPYPP) were yielding over 10% based on an annualized dividend of $1.625, with share prices dropping to $16.22. This yield significantly exceeds the average of 8.10% in the Real Estate preferred stock category, according to Preferred Stock Channel. Currently, BPYPP is trading at a 34.88% discount to its liquidation preference amount, compared to the category average discount of 14.58%.
The 52-week range for BPYPP shows a low of $14.25 and a high of $16.73, with its last trade recorded at $16.30. As of Tuesday’s trading session, BPYPP experienced a decline of approximately 0.3%.
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