Brookfield Property Partners LP (BPY) Trading Down 1.3%
Shares of Brookfield Property Partners LP (NYSE:BPY) fell 1.3% on Wednesday . The company traded as low as $23.65 and last traded at $23.65, with a volume of 112,398 shares traded. The stock had previously closed at $23.96.
A number of research firms have recently weighed in on BPY. Zacks Investment Research lowered Brookfield Property Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Canaccord Genuity reaffirmed a “buy” rating and set a $28.00 price objective on shares of Brookfield Property Partners in a research report on Friday, May 6th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $27.40.
The firm has a market cap of $6.17 billion and a PE ratio of 8.14. The company’s 50-day moving average is $23.69 and its 200-day moving average is $22.45.
Brookfield Property Partners (NYSE:BPY) last posted its earnings results on Friday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. On average, equities research analysts expect that Brookfield Property Partners LP will post $2.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Tuesday, May 31st were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend was Thursday, May 26th.
A number of hedge funds and institutional investors have recently bought and sold shares of the stock. 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 during the last quarter. 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 worth $10,351,000 after buying an additional 11,186 shares in the last quarter. 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 worth $18,677,000 after buying an additional 18,447 shares in the last quarter. Advantus Capital Management Inc bought a new stake in shares of Brookfield Property Partners during the fourth quarter worth $1,301,000. Finally, Principal Financial Group Inc. raised its stake in shares of 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.
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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