Hillsdale Investment Management Inc. decreased its position in shares of Brookfield Corporation (NYSE:BN – Free Report) by 11.9% in the 1st quarter, Holdings Channel reports. The fund owned 431,808 shares of the company’s stock after selling 58,556 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Brookfield were worth $17,493,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BN. MCF Advisors LLC purchased a new stake in Brookfield during the fourth quarter valued at about $26,000. Quattro Advisors LLC purchased a new position in shares of Brookfield in the fourth quarter worth about $26,000. Exchange Traded Concepts LLC purchased a new position in shares of Brookfield in the fourth quarter worth about $27,000. Truvestments Capital LLC raised its position in shares of Brookfield by 49.9% in the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock valued at $29,000 after purchasing an additional 213 shares during the period. Finally, Hilltop National Bank raised its position in shares of Brookfield by 49.9% in the fourth quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after purchasing an additional 241 shares during the period. 61.60% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on BN shares. TD raised their price objective on shares of Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. JPMorgan Chase & Co. boosted their target price on shares of Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research report on Wednesday, June 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $61.00 price target (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. Finally, Royal Bank Of Canada reduced their price target on Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and an average target price of $56.82.
Brookfield Price Performance
BN stock opened at $43.38 on Tuesday. The firm has a 50 day moving average of $44.74 and a 200-day moving average of $44.56. The firm has a market capitalization of $106.34 billion, a P/E ratio of 85.06 and a beta of 1.54. Brookfield Corporation has a 12 month low of $37.93 and a 12 month high of $49.56. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54.
Brookfield Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.07 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.28 annualized dividend and a yield of 0.6%. Brookfield’s dividend payout ratio is currently 54.90%.
Brookfield Company Profile
Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.
Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.
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