Suncoast Equity Management boosted its stake in Brookfield Property Partners L.P. (NYSE:BPY) (TSE:BPY.UN) by 24.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,865 shares of the financial services provider’s stock after buying an additional 2,705 shares during the period. Brookfield Property Partners L.P. makes up approximately 0.1% of Suncoast Equity Management’s portfolio, making the stock its 28th largest position. Suncoast Equity Management’s holdings in Brookfield Property Partners L.P. were worth $328,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE boosted its position in Brookfield Property Partners L.P. by 25.2% in the first quarter. Bank of America Corp DE now owns 232,836 shares of the financial services provider’s stock valued at $5,183,000 after buying an additional 46,792 shares in the last quarter. Renaissance Technologies LLC boosted its position in Brookfield Property Partners L.P. by 52.4% in the first quarter. Renaissance Technologies LLC now owns 445,398 shares of the financial services provider’s stock valued at $9,924,000 after buying an additional 153,156 shares in the last quarter. Mackenzie Financial Corp boosted its position in Brookfield Property Partners L.P. by 0.9% in the first quarter. Mackenzie Financial Corp now owns 2,355,466 shares of the financial services provider’s stock valued at $52,433,000 after buying an additional 20,529 shares in the last quarter. Advantus Capital Management Inc purchased a new position in Brookfield Property Partners L.P. during the first quarter valued at $1,071,000. Finally, Partners Value Investments LP purchased a new position in Brookfield Property Partners L.P. during the first quarter valued at $80,435,000. 62.32% of the stock is owned by institutional investors.

Brookfield Property Partners L.P. (NYSE BPY) opened at 23.48 on Tuesday. The firm has a market capitalization of $6.01 billion, a PE ratio of 14.42 and a beta of 0.90. Brookfield Property Partners L.P. has a 12 month low of $20.31 and a 12 month high of $24.21. The company’s 50-day moving average price is $23.71 and its 200 day moving average price is $22.86.

Brookfield Property Partners L.P. (NYSE:BPY) (TSE:BPY.UN) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $0.31 earnings per share for the quarter. Brookfield Property Partners L.P. had a net margin of 17.30% and a return on equity of 2.52%. The business had revenue of $1.02 billion during the quarter. On average, equities research analysts predict that Brookfield Property Partners L.P. will post $1.14 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 5.03%. The ex-dividend date is Tuesday, August 29th. Brookfield Property Partners L.P.’s dividend payout ratio (DPR) is currently 74.68%.

Brookfield Property Partners L.P. announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 16th that permits the company to buyback 20,470,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

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Several research firms have recently weighed in on BPY. BidaskClub cut Brookfield Property Partners L.P. from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $26.00 price objective on shares of Brookfield Property Partners L.P. in a research report on Friday, July 7th. Scotiabank reduced their price objective on Brookfield Property Partners L.P. from $34.50 to $25.50 and set an “outperform” rating for the company in a research report on Tuesday, May 2nd. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $28.00 price objective on shares of Brookfield Property Partners L.P. in a research report on Monday, May 8th.

About Brookfield Property Partners L.P.

Brookfield Property Partners L.P. is a diversified global real estate company. The Company owns, operates and develops a portfolio of office, retail, multifamily, industrial, hospitality, triple net lease, self-storage and student housing assets. Its partnership is Brookfield Asset Management Inc’s public commercial property entity and the primary vehicle through which it invests in real estate on a global basis.

Institutional Ownership by Quarter for Brookfield Property Partners L.P. (NYSE:BPY)

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