Brookfield Property Partners’ (BPY) “Buy” Rating Reaffirmed at Canaccord Genuity
Brookfield Property Partners LP (NYSE:BPY) (TSE:BPY.UN)‘s stock had its “buy” rating restated by analysts at Canaccord Genuity in a research note issued to investors on Monday. They presently have a $28.00 price target on the financial services provider’s stock. Canaccord Genuity’s price target points to a potential upside of 28.85% from the company’s current price.
Separately, Scotiabank reaffirmed an “outperform” rating and issued a $34.00 target price on shares of Brookfield Property Partners in a research report on Friday, April 21st.
Brookfield Property Partners (NYSE:BPY) traded down 0.28% during mid-day trading on Monday, hitting $21.73. The stock had a trading volume of 126,863 shares. The stock’s 50-day moving average is $22.32 and its 200 day moving average is $22.12. Brookfield Property Partners has a 52 week low of $20.31 and a 52 week high of $24.98. The company has a market capitalization of $5.66 billion, a P/E ratio of 9.68 and a beta of 0.91.
Brookfield Property Partners (NYSE:BPY) last released its earnings results on Friday, May 5th. The financial services provider reported ($0.21) earnings per share (EPS) for the quarter. The company had revenue of $1.23 billion during the quarter. Brookfield Property Partners had a net margin of 20.60% and a return on equity of 3.48%. Equities analysts forecast that Brookfield Property Partners will post $2.13 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, May 31st will be given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date is Friday, May 26th. Brookfield Property Partners’s dividend payout ratio is currently 31.37%.
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Several hedge funds have recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp increased its stake in Brookfield Property Partners by 33.9% in the third quarter. OMERS ADMINISTRATION Corp now owns 33,205 shares of the financial services provider’s stock worth $759,000 after buying an additional 8,405 shares in the last quarter. Advantus Capital Management Inc increased its stake in Brookfield Property Partners by 5.5% in the third quarter. Advantus Capital Management Inc now owns 108,899 shares of the financial services provider’s stock worth $2,496,000 after buying an additional 5,659 shares in the last quarter. UBS Group AG increased its stake in Brookfield Property Partners by 24.2% in the third quarter. UBS Group AG now owns 208,792 shares of the financial services provider’s stock worth $4,785,000 after buying an additional 40,741 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Brookfield Property Partners during the third quarter worth about $293,662,000. Finally, Brookfield Asset Management Inc. increased its stake in Brookfield Property Partners by 6.4% in the third quarter. Brookfield Asset Management Inc. now owns 50,332,307 shares of the financial services provider’s stock worth $1,153,616,000 after buying an additional 3,009,408 shares in the last quarter. 61.06% of the stock is currently owned by institutional investors and hedge funds.
Brookfield Property Partners Company Profile
Brookfield Property Partners L.P. is a diversified global real estate company. The Company owns, operates and develops a portfolio of office, retail, multifamily, industrial, hospitality, triple net lease, self-storage and student housing assets. Its partnership is Brookfield Asset Management Inc’s public commercial property entity and the primary vehicle through which it invests in real estate on a global basis.
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