Townsquare Capital LLC Lowers Stock Holdings in Brookfield Co. (NYSE:BN)

Townsquare Capital LLC lessened its holdings in shares of Brookfield Co. (NYSE:BN) by 1.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 118,534 shares of the company’s stock after selling 1,780 shares during the quarter. Townsquare Capital LLC’s holdings in Brookfield were worth $6,300,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BN. Nicholas Hoffman & Company LLC. grew its position in Brookfield by 3.9% during the second quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock valued at $282,000 after acquiring an additional 257 shares during the period. Blue Trust Inc. grew its stake in Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after buying an additional 272 shares during the period. First Trust Direct Indexing L.P. increased its position in shares of Brookfield by 2.9% in the third quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock worth $551,000 after acquiring an additional 292 shares in the last quarter. Rosenberg Matthew Hamilton raised its stake in shares of Brookfield by 20.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock valued at $71,000 after acquiring an additional 296 shares during the period. Finally, Caprock Group LLC lifted its holdings in shares of Brookfield by 2.5% during the 3rd quarter. Caprock Group LLC now owns 12,332 shares of the company’s stock valued at $655,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

BN has been the subject of several recent research reports. Royal Bank of Canada lowered their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Scotiabank raised their target price on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods upped their price target on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. TD Securities increased their price objective on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $62.00 target price (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Stock Up 2.1 %

BN stock opened at $61.37 on Friday. The company has a market capitalization of $101.06 billion, a P/E ratio of 130.57 and a beta of 1.53. The firm has a 50 day simple moving average of $54.97 and a 200-day simple moving average of $48.55. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40. Brookfield Co. has a twelve month low of $33.72 and a twelve month high of $61.63.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s payout ratio is currently 68.09%.

About Brookfield

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.