Shares of Brookfield Property Partners LP (NASDAQ:BPY) (TSE:BPY.UN) have earned an average recommendation of “Hold” from the seven analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $24.75.
A number of analysts have recently weighed in on the company. Scotiabank cut their target price on Brookfield Property Partners from $25.25 to $24.75 and set an “outperform” rating for the company in a research report on Friday, February 9th. Mizuho upgraded Brookfield Property Partners to a “buy” rating and set a $24.00 target price for the company in a research report on Monday, March 19th. BidaskClub upgraded Brookfield Property Partners from a “sell” rating to a “hold” rating in a research report on Friday, December 15th. Evercore ISI downgraded Brookfield Property Partners from an “outperform” rating to an “in-line” rating in a research report on Monday, December 11th. Finally, TheStreet downgraded Brookfield Property Partners from a “c-” rating to a “d+” rating in a research report on Wednesday, December 6th.
Several hedge funds have recently made changes to their positions in BPY. KCS Wealth Advisory bought a new stake in shares of Brookfield Property Partners during the 4th quarter worth $237,000. Jane Street Group LLC bought a new stake in shares of Brookfield Property Partners during the 4th quarter worth $392,000. Waratah Capital Advisors Ltd. bought a new stake in shares of Brookfield Property Partners during the 4th quarter worth $444,000. K2 Principal Fund L.P. bought a new stake in shares of Brookfield Property Partners during the 4th quarter worth $696,000. Finally, NewSquare Capital LLC lifted its position in shares of Brookfield Property Partners by 8.3% during the 4th quarter. NewSquare Capital LLC now owns 42,265 shares of the financial services provider’s stock worth $937,000 after buying an additional 3,242 shares during the last quarter. Institutional investors and hedge funds own 61.85% of the company’s stock.
Brookfield Property Partners (NASDAQ:BPY) (TSE:BPY.UN) last released its earnings results on Thursday, February 8th. The financial services provider reported $0.17 earnings per share for the quarter. The firm had revenue of $1.52 billion during the quarter. Brookfield Property Partners had a return on equity of 1.85% and a net margin of 12.89%.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Wednesday, February 28th will be given a dividend of $0.315 per share. This is an increase from Brookfield Property Partners’s previous quarterly dividend of $0.30. This represents a $1.26 annualized dividend and a dividend yield of 6.58%. The ex-dividend date is Tuesday, February 27th. Brookfield Property Partners’s dividend payout ratio is currently 257.14%.
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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