The Sale of Brookfield Property Partners and Purchased Two Canadian Stocks

Hey guys! So, this Friday, June 25, I made a few transactions in my TFSA account. I sold the entire BPY position and bought two other stocks. The reason I sold Brookfield Property Partners (BPY) is because they will be acquired very soon anyway.

I had 186 shares/units of BPY that I bought between 2017 and 2019 for an average price of around $27 per share. When covid hit, the stock tanked to under $10 because most of retail stores and malls had to close. That negatively affected BPY and many other retail REITs. Right now, BPY trades at pre-covid level and slightly higher for what the company will be acquired for. I decided to exit and sold all shares for $23.35 per share. I booked a loss of $699 but the dividends that I received in the last four years had offset the loss completely. Considering how low the stock price “dipped” during covid, my loss could have been a lot bigger.

 



As soon as I sold BPY, I bought two other stocks. You know me. I hate to hold cash and try to redeploy the capital asap. I added 100 shares of Algonquin Power (AQN.TO) to my position and started a new position in Bell (BCE.TO) by purchasing 50 shares. I believe both companies are solid and should provide great returns going forward. For AQN I paid $18.87 per share and for BCE I paid $60.72 per share.