Brookfield Property Partners LP (BPY) Stock Rating Reaffirmed by RBC Capital Markets
Brookfield Property Partners LP (NYSE:BPY)‘s stock had its “outperform” rating reaffirmed by equities research analysts at RBC Capital Markets in a research note issued on Saturday. They presently have a $33.00 price target on the stock. RBC Capital Markets’ price objective would indicate a potential upside of 43.98% from the stock’s current price.
Separately, Zacks Investment Research upgraded shares of Brookfield Property Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, July 4th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $28.33.
Brookfield Property Partners (NYSE:BPY) opened at 22.92 on Friday. The stock has a 50 day moving average price of $23.24 and a 200-day moving average price of $23.50. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 10.97 and a beta of 0.94. Brookfield Property Partners has a 12-month low of $18.69 and a 12-month high of $24.98.
Brookfield Property Partners (NYSE:BPY) last released its quarterly earnings data on Friday, August 5th. The company reported $0.35 earnings per share (EPS) for the quarter. Brookfield Property Partners had a net margin of 28.56% and a return on equity of 4.34%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.22 billion. Equities analysts predict that Brookfield Property Partners will post $2.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st were paid a $0.28 dividend. The ex-dividend date was Monday, August 29th. This represents a $1.12 annualized dividend and a yield of 4.89%. Brookfield Property Partners’s dividend payout ratio (DPR) is 48.91%.
Large investors have recently made changes to their positions in the stock. Mackenzie Financial Corp purchased a new stake in shares of Brookfield Property Partners during the second quarter valued at $54,574,000. I.G. Investment Management LTD. increased its stake in shares of Brookfield Property Partners by 1,121.2% in the second quarter. I.G. Investment Management LTD. now owns 2,308,100 shares of the company’s stock valued at $51,904,000 after buying an additional 2,119,100 shares during the period. Brookfield Asset Management Inc. increased its stake in shares of Brookfield Property Partners by 4.6% in the second quarter. Brookfield Asset Management Inc. now owns 47,322,899 shares of the company’s stock valued at $1,062,872,000 after buying an additional 2,073,017 shares during the period. Bank of Montreal Can purchased a new stake in shares of Brookfield Property Partners during the second quarter valued at $15,694,000. Finally, Royal Bank of Canada increased its stake in shares of Brookfield Property Partners by 1.8% in the first quarter. Royal Bank of Canada now owns 28,919,736 shares of the company’s stock valued at $670,359,000 after buying an additional 521,990 shares during the period. Institutional investors own 59.94% of the company’s stock.
About Brookfield Property Partners
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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