Brookfield Property Partners L.P. (BPY) Given Consensus Recommendation of “Hold” by Brokerages
Brookfield Property Partners L.P. (NASDAQ:BPY) (TSE:BPY.UN) has been assigned an average rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $25.17.
Several research firms have recently weighed in on BPY. Canaccord Genuity cut Brookfield Property Partners from a “buy” rating to a “hold” rating and set a $24.00 price objective for the company. in a research report on Monday, November 13th. BidaskClub raised Brookfield Property Partners from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Scotiabank raised their target price on Brookfield Property Partners from $25.25 to $25.50 and gave the stock an “outperform” rating in a research report on Monday, November 6th. Evercore ISI cut Brookfield Property Partners from an “outperform” rating to an “in-line” rating in a research report on Monday. Finally, TheStreet cut Brookfield Property Partners from a “c-” rating to a “d+” rating in a research report on Wednesday, December 6th.
An institutional investor recently raised its position in Brookfield Property Partners stock. GSA Capital Partners LLP boosted its stake in shares of Brookfield Property Partners L.P. (NASDAQ:BPY) (TSE:BPY.UN) by 54.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,213 shares of the financial services provider’s stock after acquiring an additional 25,368 shares during the quarter. GSA Capital Partners LLP’s holdings in Brookfield Property Partners were worth $1,686,000 as of its most recent SEC filing. 61.73% of the stock is owned by institutional investors and hedge funds.
Brookfield Property Partners declared that its board has initiated a stock repurchase program on Wednesday, August 16th that authorizes the company to buyback 20,470,000 shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, November 30th will be given a $0.295 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.18 annualized dividend and a yield of 5.46%. Brookfield Property Partners’s dividend payout ratio (DPR) is currently 513.04%.
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Brookfield Property Partners Company Profile
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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