Shares of Brookfield Property Partners L.P. (NYSE:BPY) (TSE:BPY.UN) saw an uptick in trading volume on Wednesday . 711,602 shares changed hands during mid-day trading, an increase of 862% from the previous session’s volume of 73,964 shares.The stock last traded at $23.75 and had previously closed at $23.18.

A number of brokerages recently issued reports on BPY. BidaskClub downgraded Brookfield Property Partners L.P. from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Canaccord Genuity restated a “buy” rating and issued a $28.00 price target on shares of Brookfield Property Partners L.P. in a research report on Monday. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $26.00 price target on shares of Brookfield Property Partners L.P. in a research report on Friday, July 7th.

The stock has a 50 day moving average price of $23.44 and a 200 day moving average price of $23.02. The company has a market capitalization of $6.01 billion, a P/E ratio of 14.42 and a beta of 0.90.

Brookfield Property Partners L.P. (NYSE:BPY) (TSE:BPY.UN) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.31 EPS for the quarter. Brookfield Property Partners L.P. had a return on equity of 2.52% and a net margin of 17.30%. The business had revenue of $1.02 billion for the quarter. Analysts anticipate that Brookfield Property Partners L.P. will post $0.94 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, August 31st were paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 5.03%. The ex-dividend date was Tuesday, August 29th. Brookfield Property Partners L.P.’s dividend payout ratio (DPR) is presently 74.68%.

Brookfield Property Partners L.P. declared that its Board of Directors has approved a stock buyback plan on Wednesday, August 16th that allows the company to repurchase 20,470,000 outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Several institutional investors have recently made changes to their positions in the company. Griffin Asset Management Inc. acquired a new position in shares of Brookfield Property Partners L.P. in the 2nd quarter valued at $521,000. Scotia Capital Inc. lifted its stake in shares of Brookfield Property Partners L.P. by 4.3% in the 2nd quarter. Scotia Capital Inc. now owns 2,925,230 shares of the financial services provider’s stock valued at $68,922,000 after purchasing an additional 121,505 shares during the last quarter. ETF Managers Group LLC acquired a new position in shares of Brookfield Property Partners L.P. in the 2nd quarter valued at $105,000. Capital International Investors lifted its stake in shares of Brookfield Property Partners L.P. by 21.4% in the 2nd quarter. Capital International Investors now owns 2,123,700 shares of the financial services provider’s stock valued at $50,268,000 after purchasing an additional 373,700 shares during the last quarter. Finally, Guardian Capital Advisors LP lifted its stake in shares of Brookfield Property Partners L.P. by 3.5% in the 2nd quarter. Guardian Capital Advisors LP now owns 39,904 shares of the financial services provider’s stock valued at $1,182,000 after purchasing an additional 1,363 shares during the last quarter. 62.32% of the stock is currently owned by institutional investors and hedge funds.

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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.

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