Brookfield Property Partners LP (BPY) Shares Up 4%
Brookfield Property Partners LP (NYSE:BPY)’s share price shot up 4% during mid-day trading on Wednesday . The company traded as high as $23.37 and last traded at $23.35, with a volume of 132,344 shares. The stock had previously closed at $22.45.
BPY has been the subject of several analyst reports. Zacks Investment Research cut Brookfield Property Partners from a “hold” rating to a “sell” rating in a report on Wednesday, May 11th. TheStreet upgraded Brookfield Property Partners from a “sell” rating to a “hold” rating in a report on Monday, March 21st. Finally, Canaccord Genuity restated a “buy” rating and set a $28.00 target price on shares of Brookfield Property Partners in a report on Friday, May 6th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $27.40.
The firm has a market capitalization of $6.04 billion and a price-to-earnings ratio of 7.97. The firm has a 50 day moving average of $23.82 and a 200-day moving average of $22.40.
Brookfield Property Partners (NYSE:BPY) last posted its quarterly earnings results on Friday, May 6th. The company reported $0.31 EPS for the quarter. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.22 billion. On average, equities analysts forecast that Brookfield Property Partners LP will post $2.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Tuesday, May 31st were issued a $0.28 dividend. The ex-dividend date was Thursday, May 26th. This represents a $1.12 annualized dividend and a dividend yield of 4.85%.
Several large investors have recently modified their holdings of the company. Advantus Capital Management Inc purchased a new stake in shares of Brookfield Property Partners during the fourth quarter valued at about $1,301,000. Toronto Dominion Bank boosted its stake in shares of 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 during the period. ING Groep purchased a new stake in shares of Brookfield Property Partners during the third quarter valued at about $2,853,000. Morgan Stanley boosted its stake in shares of Brookfield Property Partners by 2.6% in the fourth quarter. Morgan Stanley now owns 445,416 shares of the company’s stock valued at $10,351,000 after buying an additional 11,186 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of 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 during the period.
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.