Hillsdale Investment Management Inc. Sells 58,556 Shares of Brookfield Corporation $BN

Hillsdale Investment Management Inc. reduced its stake in Brookfield Corporation (NYSE:BN) by 11.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. 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 SEC filing.

Other large investors have also bought and sold shares of the company. Truvestments Capital LLC grew its stake in shares of Brookfield by 49.9% in the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock worth $29,000 after acquiring an additional 213 shares in the last quarter. Meadow Creek Wealth Advisors LLC lifted its position in shares of Brookfield by 2.3% during the first quarter. Meadow Creek Wealth Advisors LLC now owns 10,308 shares of the company’s stock valued at $417,000 after purchasing an additional 234 shares in the last quarter. Hilltop National Bank lifted its position in shares of Brookfield by 49.9% during 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 in the last quarter. New England Capital Financial Advisors LLC boosted its holdings in Brookfield by 50.2% during the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock worth $34,000 after purchasing an additional 251 shares during the last quarter. Finally, ST Germain D J Co. Inc. grew its position in Brookfield by 49.9% in the 4th quarter. ST Germain D J Co. Inc. now owns 811 shares of the company’s stock worth $37,000 after purchasing an additional 270 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Price Performance

BN opened at $43.38 on Tuesday. Brookfield Corporation has a fifty-two week low of $37.93 and a fifty-two week high of $49.56. The firm has a 50-day moving average of $44.74 and a 200 day moving average of $44.56. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. The firm has a market cap of $106.34 billion, a P/E ratio of 85.06 and a beta of 1.54.

Brookfield Dividend Announcement

The business 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. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, June 15th. Brookfield’s payout ratio is presently 54.90%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BN shares. Scotia increased their price objective on shares of Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research note on Friday, May 15th. Morgan Stanley restated an “overweight” rating and issued a $61.00 target price (up from $60.00) on shares of Brookfield in a research note on Tuesday, April 21st. TD upped their target price on Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. TD Securities reaffirmed a “buy” rating and set a $60.00 price target on shares of Brookfield in a research report on Tuesday, May 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a report on Wednesday, June 24th. One equities research 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 stock. Based on data from MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and a consensus target price of $56.82.

About Brookfield

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.