Brookfield Property Partners LP (BPY) Stock Rating Reaffirmed by RBC Capital Markets
Brookfield Property Partners LP (NYSE:BPY)‘s stock had its “outperform” rating reissued by research analysts at RBC Capital Markets in a research note issued on Saturday. They presently have a $33.00 price objective on the stock. RBC Capital Markets’ price target would indicate a potential upside of 43.98% from the stock’s previous close.
Separately, Zacks Investment Research raised Brookfield Property Partners from a “strong sell” rating to a “hold” rating in a report on Monday, July 4th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $28.33.
Brookfield Property Partners (NYSE:BPY) opened at 22.92 on Friday. The company has a market cap of $6.00 billion, a PE ratio of 10.97 and a beta of 0.94. The company has a 50-day moving average price of $23.24 and a 200 day moving average price of $23.50. Brookfield Property Partners has a 12-month low of $18.69 and a 12-month high of $24.98.
Brookfield Property Partners (NYSE:BPY) last announced its quarterly earnings data on Friday, August 5th. The company reported $0.35 earnings per share for the quarter. Brookfield Property Partners had a return on equity of 4.34% and a net margin of 28.56%. The business earned $1.28 billion during the quarter, compared to analyst estimates of $1.22 billion. On average, analysts forecast that Brookfield Property Partners will post $2.89 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date was Monday, August 29th. Brookfield Property Partners’s payout ratio is currently 48.91%.
Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its position in Brookfield Property Partners by 1.8% in the first quarter. Royal Bank of Canada now owns 28,919,736 shares of the company’s stock worth $670,359,000 after buying an additional 521,990 shares during the last quarter. CIBC World Markets Inc. raised its position in Brookfield Property Partners by 14.2% in the second quarter. CIBC World Markets Inc. now owns 562,551 shares of the company’s stock worth $12,635,000 after buying an additional 69,818 shares during the last quarter. GSA Capital Partners LLP raised its position in Brookfield Property Partners by 1.3% in the second quarter. GSA Capital Partners LLP now owns 53,145 shares of the company’s stock worth $1,194,000 after buying an additional 700 shares during the last quarter. Lebenthal Asset Management LLC bought a new position in Brookfield Property Partners during the first quarter worth approximately $533,000. Finally, I.G. Investment Management LTD. raised its position in Brookfield Property Partners by 1,121.2% in the second quarter. I.G. Investment Management LTD. now owns 2,308,100 shares of the company’s stock worth $51,904,000 after buying an additional 2,119,100 shares during the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.
About Brookfield Property Partners
Brookfield Property Partners L.P. is an owner and operator of properties. The Company is engaged in the operation, development and management of retail and other rental properties, primarily regional malls. The Company’s business is organized in three operating platforms: office, retail and other segments.
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