Spirit of America Management Corp NY acquired a new stake in Brookfield Property Partners LP (NASDAQ:BPY) (TSE:BPY.UN) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 9,551 shares of the financial services provider’s stock, valued at approximately $200,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BPY. Burgundy Asset Management Ltd. acquired a new stake in Brookfield Property Partners during the 2nd quarter valued at $93,188,000. Royal Bank of Canada grew its holdings in Brookfield Property Partners by 5.2% during the 1st quarter. Royal Bank of Canada now owns 28,323,050 shares of the financial services provider’s stock valued at $543,521,000 after buying an additional 1,407,826 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Brookfield Property Partners by 21.3% during the 2nd quarter. CIBC Asset Management Inc now owns 7,801,303 shares of the financial services provider’s stock valued at $148,203,000 after buying an additional 1,372,216 shares during the last quarter. Montrusco Bolton Investments Inc. acquired a new stake in Brookfield Property Partners during the 3rd quarter valued at $25,113,000. Finally, Hexavest Inc. acquired a new stake in Brookfield Property Partners during the 3rd quarter valued at $22,396,000. 63.07% of the stock is owned by hedge funds and other institutional investors.
BPY has been the topic of a number of analyst reports. BidaskClub cut Brookfield Property Partners from a “hold” rating to a “sell” rating in a report on Tuesday, July 3rd. Royal Bank of Canada lowered their target price on Brookfield Property Partners from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, August 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Brookfield Property Partners currently has an average rating of “Buy” and a consensus price target of $24.25.
Shares of NASDAQ:BPY opened at $19.57 on Friday. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 11.80 and a beta of 0.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.35 and a current ratio of 0.35. Brookfield Property Partners LP has a one year low of $18.13 and a one year high of $24.96.
Brookfield Property Partners (NASDAQ:BPY) (TSE:BPY.UN) last announced its earnings results on Wednesday, August 1st. The financial services provider reported $0.69 EPS for the quarter. The firm had revenue of $1.22 billion for the quarter. Brookfield Property Partners had a return on equity of 4.97% and a net margin of 35.05%.
The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, August 31st were issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 6.44%. The ex-dividend date was Thursday, August 30th.
About Brookfield Property Partners
Brookfield Property Partners is one of the world's premier commercial real estate companies, with approximately $69 billion in total assets. We are leading owners, operators and investors in commercial real estate, with a diversified portfolio of premier office and retail assets, as well as interests in multifamily, triple net lease, industrial, hospitality, self-storage, student housing and manufactured housing assets.
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