Brookfield Property Partners LP (BPY) Shares Down 1.3%
Shares of Brookfield Property Partners LP (NYSE:BPY) dropped 1.3% on Wednesday . The stock traded as low as $23.65 and last traded at $23.65, with a volume of 112,398 shares changing hands. The stock had previously closed at $23.96.
BPY has been the topic of several recent analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $28.00 price target on shares of Brookfield Property Partners in a report on Friday, May 6th. Zacks Investment Research cut Brookfield Property Partners from a “buy” rating to a “hold” rating in a report on Monday, April 11th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $27.40.
The firm’s 50-day moving average price is $23.68 and its 200 day moving average price is $22.47. The stock has a market cap of $6.21 billion and a P/E ratio of 8.18.
Brookfield Property Partners (NYSE:BPY) last released its quarterly earnings results on Friday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.22 billion. Equities analysts anticipate that Brookfield Property Partners LP will post $2.89 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Tuesday, May 31st were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 4.72%. The ex-dividend date was Thursday, May 26th.
A number of hedge funds recently added to or reduced their stakes in BPY. Principal Financial Group Inc. raised its stake in Brookfield Property Partners by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 2,291,431 shares of the company’s stock valued at $53,253,000 after buying an additional 66,351 shares in the last quarter. ING Groep bought a new stake in Brookfield Property Partners during the third quarter valued at about $2,853,000. Bank of Montreal Can raised its stake in Brookfield Property Partners by 2.3% in the fourth quarter. Bank of Montreal Can now owns 803,652 shares of the company’s stock valued at $18,677,000 after buying an additional 18,447 shares in the last quarter. Advantus Capital Management Inc bought a new stake in Brookfield Property Partners during the fourth quarter valued at about $1,301,000. Finally, Toronto Dominion Bank raised its stake in Brookfield Property Partners by 8.2% in the fourth quarter. Toronto Dominion Bank now owns 93,545 shares of the company’s stock valued at $2,178,000 after buying an additional 7,060 shares in the last quarter.
Brookfield Property Partners L.P. is a commercial property Company. The Company owns, operates and invests in office, retail, multifamily and industrial assets. The Company’s operating segments include Office, Retail, Industrial, Multifamily, Hotels, Triple Net Lease, and Corporate. Triple Net Lease includes Capital Automotive Real Estate Services Inc (CARS), which owns the real estate for more than 300 automotive dealerships across North America and leases it on a triple net lease basis.
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