Korea Investment CORP bought a new position in shares of Brookfield Property Partners LP (NASDAQ:BPY) (TSE:BPY.UN) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 28,020 shares of the financial services provider’s stock, valued at approximately $585,000.
A number of other institutional investors and hedge funds also recently modified their holdings of BPY. Conning Inc. lifted its holdings in shares of Brookfield Property Partners by 13.8% during the 3rd quarter. Conning Inc. now owns 26,168 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 3,169 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Brookfield Property Partners by 268.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,784 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 3,484 shares in the last quarter. Moody National Bank Trust Division bought a new position in shares of Brookfield Property Partners during the 3rd quarter valued at about $113,000. NewSquare Capital LLC lifted its holdings in shares of Brookfield Property Partners by 10.9% during the 3rd quarter. NewSquare Capital LLC now owns 59,782 shares of the financial services provider’s stock valued at $1,249,000 after purchasing an additional 5,886 shares in the last quarter. Finally, Securian Asset Management Inc lifted its holdings in shares of Brookfield Property Partners by 7.7% during the 2nd quarter. Securian Asset Management Inc now owns 107,880 shares of the financial services provider’s stock valued at $2,052,000 after purchasing an additional 7,700 shares in the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.
Several research firms have recently weighed in on BPY. BidaskClub upgraded Brookfield Property Partners from a “sell” rating to a “hold” rating in a report on Tuesday, September 11th. Scotiabank set a $24.00 price objective on Brookfield Property Partners and gave the company a “buy” rating in a report on Monday, November 5th. Finally, Royal Bank of Canada cut their price objective on Brookfield Property Partners from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $24.00.
Shares of Brookfield Property Partners stock opened at $17.19 on Friday. Brookfield Property Partners LP has a 52-week low of $17.10 and a 52-week high of $22.31. The company has a market capitalization of $4.58 billion, a P/E ratio of 8.83 and a beta of 0.86. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.15.
Brookfield Property Partners (NASDAQ:BPY) (TSE:BPY.UN) last announced its earnings results on Thursday, November 1st. The financial services provider reported $0.43 earnings per share (EPS) for the quarter. Brookfield Property Partners had a return on equity of 5.17% and a net margin of 40.14%. The business had revenue of $1.10 billion for the quarter.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, November 30th will be given a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 7.33%. The ex-dividend date is Thursday, November 29th.
Brookfield Property Partners Company Profile
Brookfield Property Partners is one of the world’s premier commercial real estate companies, with approximately $69 billion in total assets. We are leading owners, operators and investors in commercial real estate, with a diversified portfolio of premier office and retail assets, as well as interests in multifamily, triple net lease, industrial, hospitality, self-storage, student housing and manufactured housing assets.
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