Zacks: Brookfield Canada Office Properties (BOXC) Receives Average Rating of “Hold” from Brokerages
Brookfield Canada Office Properties (NYSE:BOXC) has earned a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.
Brokerages have set a 1 year consensus target price of $23.31 for the company, according to Zacks. Zacks has also assigned Brookfield Canada Office Properties an industry rank of 93 out of 265 based on the ratings given to its competitors.
BOXC has been the subject of several recent research reports. Zacks Investment Research cut Brookfield Canada Office Properties from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Scotiabank reiterated a “sector perform” rating and issued a $29.50 price target on shares of Brookfield Canada Office Properties in a research note on Tuesday, July 26th.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank increased its position in shares of Brookfield Canada Office Properties by 9,474.7% in the second quarter. Toronto Dominion Bank now owns 95,747 shares of the company’s stock valued at $2,121,000 after buying an additional 94,747 shares in the last quarter. Mackenzie Financial Corp purchased a new position in shares of Brookfield Canada Office Properties during the second quarter valued at approximately $11,035,000. Brookfield Asset Management Inc. increased its position in shares of Brookfield Canada Office Properties by 42.6% in the second quarter. Brookfield Asset Management Inc. now owns 15,064,117 shares of the company’s stock valued at $334,502,000 after buying an additional 4,500,000 shares in the last quarter. Scotia Capital Inc. increased its position in shares of Brookfield Canada Office Properties by 46.3% in the second quarter. Scotia Capital Inc. now owns 48,010 shares of the company’s stock valued at $1,063,000 after buying an additional 15,184 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of Brookfield Canada Office Properties during the second quarter valued at approximately $2,188,000. Institutional investors and hedge funds own 21.36% of the company’s stock.
Shares of Brookfield Canada Office Properties (NYSE:BOXC) traded up 2.52% on Tuesday, reaching $20.73. The company’s stock had a trading volume of 608 shares. Brookfield Canada Office Properties has a 52-week low of $16.22 and a 52-week high of $24.35. The firm has a 50 day moving average of $21.45 and a 200 day moving average of $21.97. The company has a market cap of $1.94 billion, a PE ratio of 9.63 and a beta of 0.90.
The company also recently disclosed a oct 16 dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.084 per share. The ex-dividend date of this dividend is Wednesday, September 28th. Brookfield Canada Office Properties’s dividend payout ratio is currently 46.30%.
Brookfield Canada Office Properties Company Profile
Brookfield Canada Office Properties is a Canada-based real estate investment trust (REIT). The Company invests, develops and operates commercial office properties in Toronto, Ottawa, Calgary and Vancouver. The Company’s commercial-property portfolio consists of interests in approximately 25 properties totaling approximately 21.1 million square feet, including approximately 4.0 million square feet of parking and other.
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