Brookfield Properties PT Lowered to $18.50 (BPO)
Analysts at Canaccord Genuity dropped their price target on shares of Brookfield Properties (NYSE:BPO) from $20.60 to $18.50 in a research report issued to clients and investors on Wednesday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price objective would indicate a potential upside of 11.65% from the stock’s previous close.
Shares of Brookfield Properties (NYSE:BPO) traded up 0.49% during mid-day trading on Wednesday, hitting $16.57. The stock had a trading volume of 519,438 shares. Brookfield Properties has a 52 week low of $15.25 and a 52 week high of $19.19. The stock’s 50-day moving average is $16.53 and its 200-day moving average is $17.14. The company has a market cap of $8.370 billion and a P/E ratio of 6.57.
Brookfield Properties (NYSE:BPO) last issued its quarterly earnings data on Friday, July 26th. The company reported $0.28 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.31 by $0.03. The company had revenue of $569.00 million for the quarter, compared to the consensus estimate of $605.65 million. During the same quarter last year, the company posted $0.30 earnings per share. Brookfield Properties’s revenue was up 3.6% compared to the same quarter last year. Analysts expect that Brookfield Properties will post $1.16 EPS for the current fiscal year.
A number of other firms have also recently commented on BPO. Analysts at ISI Group upgraded shares of Brookfield Properties (NYSE:BPO) to a “neutral” rating in a research note to investors on Tuesday, September 3rd. Separately, analysts at Scotiabank reiterated a “sector outperform” rating on shares of Brookfield Properties (NYSE:BPO) in a research note to investors on Friday, July 26th. Finally, analysts at Scotiabank cut their price target on shares of Brookfield Properties (NYSE:BPO) from $20.00 to $19.75 in a research note to investors on Tuesday, July 23rd.
Three analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Brookfield Properties has a consensus rating of “Hold” and a consensus price target of $17.88.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 30th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Wednesday, August 28th.
Brookfield Properties Corporation (NYSE:BPO) is a North American commercial real estate company.
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