Cambria Investment Management L.P. Makes New $996,000 Investment in Brookfield Corporation $BN

Cambria Investment Management L.P. acquired a new position in shares of Brookfield Corporation (NYSE:BN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,521 shares of the company’s stock, valued at approximately $996,000.

A number of other hedge funds have also recently added to or reduced their stakes in BN. Twin Peaks Wealth Advisors LLC bought a new position in shares of Brookfield in the 2nd quarter valued at $32,000. Cary Street Partners Investment Advisory LLC increased its holdings in Brookfield by 109.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock worth $39,000 after purchasing an additional 330 shares in the last quarter. First Horizon Corp acquired a new position in Brookfield in the 3rd quarter worth about $40,000. Versant Capital Management Inc raised its position in Brookfield by 507.5% in the third quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock valued at $45,000 after purchasing an additional 543 shares during the last quarter. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of Brookfield during the second quarter valued at about $51,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Trading Up 0.3%

NYSE:BN opened at $43.15 on Thursday. The firm has a fifty day simple moving average of $46.42 and a two-hundred day simple moving average of $45.72. Brookfield Corporation has a 12 month low of $29.07 and a 12 month high of $49.56. The stock has a market capitalization of $105.71 billion, a price-to-earnings ratio of 87.47 and a beta of 1.58. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.48.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. Brookfield had a return on equity of 3.87% and a net margin of 1.74%.The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. Analysts expect that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s payout ratio is presently 48.98%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Scotiabank reiterated an “outperform” rating and issued a $52.00 price objective (up from $49.00) on shares of Brookfield in a report on Friday, February 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $60.00 price target on shares of Brookfield in a research note on Tuesday, February 17th. National Bank Financial boosted their price objective on shares of Brookfield from $56.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Brookfield in a research report on Monday, December 1st. Finally, Royal Bank Of Canada upped their price target on Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and an average target price of $54.59.

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.