Sanctuary Advisors LLC Reduces Stock Position in Brookfield Corporation $BN

Sanctuary Advisors LLC lessened its stake in Brookfield Corporation (NYSE:BN) by 23.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 58,058 shares of the company’s stock after selling 17,649 shares during the quarter. Sanctuary Advisors LLC’s holdings in Brookfield were worth $2,347,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Florida Trust Wealth Management Co lifted its stake in shares of Brookfield by 49.0% in the 4th quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock valued at $53,986,000 after purchasing an additional 387,068 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Brookfield by 52.1% during the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock worth $4,228,915,000 after purchasing an additional 31,543,313 shares during the period. Lincluden Management Ltd. increased its position in shares of Brookfield by 44.2% during the 4th quarter. Lincluden Management Ltd. now owns 763,376 shares of the company’s stock worth $35,031,000 after purchasing an additional 233,997 shares during the last quarter. Baskin Financial Services Inc. increased its position in shares of Brookfield by 48.9% during the fourth quarter. Baskin Financial Services Inc. now owns 1,353,889 shares of the company’s stock valued at $62,149,000 after acquiring an additional 444,872 shares during the last quarter. Finally, Cardinal Capital Management Inc. increased its holdings in Brookfield by 42.2% in the 4th quarter. Cardinal Capital Management Inc. now owns 3,077,748 shares of the company’s stock valued at $141,238,000 after purchasing an additional 913,603 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

Brookfield stock opened at $42.19 on Wednesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20. Brookfield Corporation has a 12 month low of $37.93 and a 12 month high of $49.56. The company has a fifty day moving average price of $44.39 and a two-hundred day moving average price of $44.43. The company has a market cap of $103.40 billion, a PE ratio of 82.72 and a beta of 1.54.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.07 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. Brookfield’s payout ratio is 54.90%.

Analysts Set New Price Targets

BN has been the subject of several recent analyst reports. Scotia raised their price objective on shares of Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research note on Friday, May 15th. Royal Bank Of Canada decreased their price objective on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research report on Wednesday, June 24th. Morgan Stanley set a $59.00 target price on shares of Brookfield and gave the company an “overweight” rating in a research note on Tuesday. Finally, TD Securities reiterated a “buy” rating and issued a $60.00 price target on shares of Brookfield in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.64.

Brookfield Company Profile

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.