Brookfield Property Partners LP (BPY) Stock Rating Reaffirmed by Scotiabank

Brookfield Property Partners LP (NYSE:BPY) (TSE:BPY.UN)‘s stock had its “outperform” rating reissued by Scotiabank in a report released on Friday. They presently have a $34.00 price target on the financial services provider’s stock. Scotiabank’s price objective would indicate a potential upside of 47.70% from the company’s previous close.

Brookfield Property Partners (NYSE:BPY) traded up 0.09% during trading on Friday, reaching $23.02. 108,075 shares of the company traded hands. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 10.26 and a beta of 0.91. The firm’s 50 day moving average price is $22.22 and its 200 day moving average price is $22.10. Brookfield Property Partners has a 12-month low of $20.31 and a 12-month high of $24.98.

The business also recently announced a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Tuesday, February 28th were paid a dividend of $0.295 per share. This is a positive change from Brookfield Property Partners’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, February 24th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 5.13%. Brookfield Property Partners’s payout ratio is presently 31.37%.

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Several large investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Brookfield Property Partners by 2.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 43,497 shares of the financial services provider’s stock worth $956,000 after buying an additional 1,105 shares during the last quarter. Quadrature Capital Ltd boosted its position in shares of Brookfield Property Partners by 7.5% in the fourth quarter. Quadrature Capital Ltd now owns 76,144 shares of the financial services provider’s stock worth $1,665,000 after buying an additional 5,300 shares during the period. Advantus Capital Management Inc boosted its position in shares of Brookfield Property Partners by 5.5% in the third quarter. Advantus Capital Management Inc now owns 108,899 shares of the financial services provider’s stock worth $2,496,000 after buying an additional 5,659 shares during the period. OMERS ADMINISTRATION Corp boosted its position in shares of Brookfield Property Partners by 33.9% in the third quarter. OMERS ADMINISTRATION Corp now owns 33,205 shares of the financial services provider’s stock worth $759,000 after buying an additional 8,405 shares during the period. Finally, Intact Investment Management Inc. boosted its position in shares of Brookfield Property Partners by 1.3% in the fourth quarter. Intact Investment Management Inc. now owns 821,000 shares of the financial services provider’s stock worth $24,014,000 after buying an additional 10,900 shares during the period. 61.06% of the stock is currently owned by hedge funds and other institutional investors.

About Brookfield Property Partners

Brookfield Property Partners L.P. is a diversified global real estate company. The Company owns, operates and develops a portfolio of office, retail, multifamily, industrial, hospitality, triple net lease, self-storage and student housing assets. Its partnership is Brookfield Asset Management Inc’s public commercial property entity and the primary vehicle through which it invests in real estate on a global basis.

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