Brookfield Property Partners LP (BPY) Shares Up 4%
Brookfield Property Partners LP (NYSE:BPY) 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 trading hands. The stock had previously closed at $22.45.
A number of research firms have issued reports on BPY. Canaccord Genuity restated a “buy” rating and set a $28.00 price target on shares of Brookfield Property Partners in a report on Friday, May 6th. Zacks Investment Research cut shares of Brookfield Property Partners from a “hold” rating to a “sell” rating in a report on Wednesday, May 11th. Finally, TheStreet upgraded shares of Brookfield Property Partners from a “sell” rating to a “hold” rating in a report on Monday, March 21st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $27.40.
The firm’s 50 day moving average is $23.77 and its 200-day moving average is $22.41. The company has a market capitalization of $6.08 billion and a price-to-earnings ratio of 8.02.
Brookfield Property Partners (NYSE:BPY) last issued its quarterly earnings data on Friday, May 6th. The company reported $0.31 EPS for the quarter. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. On average, equities analysts forecast that Brookfield Property Partners LP will post $2.89 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Tuesday, May 31st were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, May 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.85%.
Other large investors have modified their holdings of the company. Advantus Capital Management Inc acquired a new stake in shares of Brookfield Property Partners during the fourth quarter valued at about $1,301,000. Toronto Dominion Bank raised 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 last quarter. ING Groep acquired a new stake in shares of Brookfield Property Partners during the third quarter valued at about $2,853,000. Morgan Stanley raised 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 last quarter. Finally, Bank of Montreal Can raised 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 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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