Brookfield Property Partners LP (BPY) Given Consensus Recommendation of “Buy” by Brokerages
Brookfield Property Partners LP (NYSE:BPY) has earned an average rating of “Buy” from the six research firms that are covering the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $30.75.
BPY has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Brookfield Property Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, July 4th. RBC Capital Markets restated an “outperform” rating and set a $33.00 price target on shares of Brookfield Property Partners in a research report on Saturday, October 1st.
Shares of Brookfield Property Partners (NYSE:BPY) traded up 0.54% during mid-day trading on Monday, hitting $22.49. 26,219 shares of the stock traded hands. The firm has a 50 day moving average of $22.81 and a 200 day moving average of $23.48. Brookfield Property Partners has a 12 month low of $18.69 and a 12 month high of $24.98. The company has a market cap of $5.89 billion, a P/E ratio of 10.76 and a beta of 0.94.
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Brookfield Property Partners (NYSE:BPY) last released its quarterly earnings results on Friday, August 5th. The company reported $0.35 EPS for the quarter. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.22 billion. Brookfield Property Partners had a net margin of 28.56% and a return on equity of 4.34%. Equities analysts anticipate that Brookfield Property Partners will post $2.89 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st were given a $0.28 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.12 annualized dividend and a dividend yield of 5.02%. Brookfield Property Partners’s dividend payout ratio (DPR) is 48.91%.
Several hedge funds have recently made changes to their positions in BPY. AGF Investments Inc. raised its position in Brookfield Property Partners by 121.9% in the second quarter. AGF Investments Inc. now owns 5,997 shares of the company’s stock worth $135,000 after buying an additional 3,294 shares during the last quarter. Commonwealth Equity Services Inc raised its position in Brookfield Property Partners by 4.6% in the second quarter. Commonwealth Equity Services Inc now owns 10,111 shares of the company’s stock worth $227,000 after buying an additional 448 shares during the last quarter. Gerstein Fisher acquired a new position in Brookfield Property Partners during the second quarter worth $267,000. Hillsdale Investment Management Inc. raised its position in Brookfield Property Partners by 7.4% in the second quarter. Hillsdale Investment Management Inc. now owns 16,030 shares of the company’s stock worth $360,000 after buying an additional 1,100 shares during the last quarter. Finally, Deere & Co. raised its position in Brookfield Property Partners by 19.0% in the second quarter. Deere & Co. now owns 17,293 shares of the company’s stock worth $388,000 after buying an additional 2,766 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.
Brookfield Property Partners Company Profile
Brookfield Property Partners L.P. is an owner and operator of properties. The Company is engaged in the operation, development and management of retail and other rental properties, primarily regional malls. The Company’s business is organized in three operating platforms: office, retail and other segments.
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