Brookfield Property Partners LP (BPY) Trading Down 1.6%
Brookfield Property Partners LP (NYSE:BPY) shares dropped 1.6% on Monday . The company traded as low as $23.07 and last traded at $23.13, with a volume of 134,073 shares. The stock had previously closed at $23.50.
A number of brokerages have commented on BPY. Canaccord Genuity reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Brookfield Property Partners in a report on Friday, May 6th. TheStreet raised Brookfield Property Partners from a “sell” rating to a “hold” rating in a report on Monday, March 21st. Finally, Zacks Investment Research raised Brookfield Property Partners from a “strong sell” rating to a “hold” rating in a report on Monday, July 4th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $27.40.
The company’s 50-day moving average price is $23.77 and its 200 day moving average price is $22.42. The stock has a market cap of $6.04 billion and a PE ratio of 7.96.
Brookfield Property Partners (NYSE:BPY) last announced its quarterly earnings results on Friday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter. The firm earned $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. On average, equities research analysts predict that Brookfield Property Partners LP will post $2.89 earnings per share for the current year.
The business 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 of this dividend was Thursday, May 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.85%.
Several hedge funds and institutional investors recently bought and sold shares of BPY. Advantus Capital Management Inc bought a new position in Brookfield Property Partners during the fourth quarter worth $1,301,000. Principal Financial Group Inc. raised its position 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 worth $53,253,000 after buying an additional 66,351 shares in the last quarter. Bank of Montreal Can raised its position 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 worth $18,677,000 after buying an additional 18,447 shares in the last quarter. Toronto Dominion Bank raised its position in Brookfield Property Partners by 8.2% in the fourth quarter. Toronto Dominion Bank now owns 93,545 shares of the company’s stock worth $2,178,000 after buying an additional 7,060 shares in the last quarter. Finally, Morgan Stanley raised its position in Brookfield Property Partners by 2.6% in the fourth quarter. Morgan Stanley now owns 445,416 shares of the company’s stock worth $10,351,000 after buying an additional 11,186 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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