Scotia Capital Inc. increased its position in shares of Brookfield Property Partners LP (NASDAQ:BPY) (TSE:BPY.UN) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,787,873 shares of the financial services provider’s stock after buying an additional 91,777 shares during the quarter. Brookfield Property Partners comprises approximately 0.9% of Scotia Capital Inc.’s portfolio, making the stock its 28th largest position. Scotia Capital Inc. owned about 0.90% of Brookfield Property Partners worth $71,526,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Intact Investment Management Inc. raised its holdings in Brookfield Property Partners by 9.4% in the second quarter. Intact Investment Management Inc. now owns 1,983,390 shares of the financial services provider’s stock valued at $49,049,000 after buying an additional 170,800 shares during the period. Bank of Montreal Can increased its stake in Brookfield Property Partners by 0.8% in the 2nd quarter. Bank of Montreal Can now owns 4,105,474 shares of the financial services provider’s stock valued at $77,716,000 after buying an additional 31,024 shares during the period. Tiemann Investment Advisors LLC acquired a new position in Brookfield Property Partners in the 1st quarter valued at approximately $230,000. Orinda Asset Management LLC purchased a new stake in Brookfield Property Partners in the 2nd quarter worth approximately $1,601,000. Finally, TD Asset Management Inc. lifted its position in Brookfield Property Partners by 7.2% in the 1st quarter. TD Asset Management Inc. now owns 7,160,907 shares of the financial services provider’s stock worth $147,351,000 after buying an additional 483,840 shares in the last quarter. Hedge funds and other institutional investors own 58.80% of the company’s stock.
Shares of NASDAQ BPY traded up $0.01 during midday trading on Wednesday, reaching $20.15. 43,692 shares of the company traded hands, compared to its average volume of 841,916. The firm has a market cap of $8.72 billion, a PE ratio of 14.46 and a beta of 0.94. The stock’s 50-day simple moving average is $19.12 and its 200-day simple moving average is $19.62. Brookfield Property Partners LP has a 12 month low of $14.96 and a 12 month high of $21.22. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.40 and a current ratio of 0.40.
Brookfield Property Partners (NASDAQ:BPY) (TSE:BPY.UN) last posted its earnings results on Friday, August 2nd. The financial services provider reported $0.12 earnings per share for the quarter. The business had revenue of $1.89 billion for the quarter. Brookfield Property Partners had a net margin of 21.13% and a return on equity of 3.04%.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 13.10%. This is a boost from Brookfield Property Partners’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, August 29th.
BPY has been the topic of a number of research reports. TheStreet downgraded shares of Brookfield Property Partners from a “c-” rating to a “d+” rating in a research note on Friday, August 2nd. CIBC assumed coverage on Brookfield Property Partners in a report on Wednesday, August 7th. They issued a “sector outperform” rating and a $25.00 target price on the stock. Finally, BidaskClub upgraded Brookfield Property Partners from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $24.33.
Brookfield Property Partners Company Profile
Brookfield Property Partners, through Brookfield Property Partners L.P. and its subsidiary Brookfield Property REIT Inc, is one of the world's premier commercial real estate companies, with approximately $87 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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