Brookfield Property Partners LP (NASDAQ:BPY) (TSE:BPY.UN)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $8.40, but opened at $8.66. Brookfield Property Partners shares last traded at $9.81, with a volume of 5,142,800 shares changing hands.
BPY has been the topic of several recent analyst reports. Royal Bank of Canada reissued a “buy” rating and set a $22.00 target price on shares of Brookfield Property Partners in a research note on Sunday, February 9th. BidaskClub downgraded shares of Brookfield Property Partners from a “sell” rating to a “strong sell” rating in a research note on Friday, March 20th. Finally, Canaccord Genuity downgraded shares of Brookfield Property Partners from a “buy” rating to a “hold” rating and set a $20.00 target price on the stock. in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $22.33.
The firm’s fifty day moving average price is $12.89 and its 200 day moving average price is $17.42. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $3.22 billion, a PE ratio of 5.16 and a beta of 1.50.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, February 28th were issued a $0.665 dividend. The ex-dividend date was Thursday, February 27th. This is a boost from Brookfield Property Partners’s previous quarterly dividend of $0.33. This represents a $2.66 dividend on an annualized basis and a yield of 27.12%.
A number of large investors have recently modified their holdings of BPY. Franklin Resources Inc. raised its position in shares of Brookfield Property Partners by 0.8% during the fourth quarter. Franklin Resources Inc. now owns 836,174 shares of the financial services provider’s stock valued at $15,280,000 after buying an additional 6,849 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in Brookfield Property Partners in the fourth quarter worth about $16,908,000. Geode Capital Management LLC raised its position in Brookfield Property Partners by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 307,797 shares of the financial services provider’s stock worth $5,624,000 after purchasing an additional 1,284 shares in the last quarter. Capital World Investors raised its position in Brookfield Property Partners by 14.3% in the fourth quarter. Capital World Investors now owns 13,608,031 shares of the financial services provider’s stock worth $248,755,000 after purchasing an additional 1,706,031 shares in the last quarter. Finally, First Republic Investment Management Inc. raised its position in Brookfield Property Partners by 5.6% in the fourth quarter. First Republic Investment Management Inc. now owns 12,830 shares of the financial services provider’s stock worth $235,000 after purchasing an additional 677 shares in the last quarter. Hedge funds and other institutional investors own 55.84% of the company’s stock.
About Brookfield Property Partners (NASDAQ:BPY)
Brookfield Property Partners, through Brookfield Property Partners L.P. and its subsidiary Brookfield Property REIT Inc, is one of the world's premier commercial real estate companies, with approximately $87 billion in total assets. We are leading owners, operators and investors in commercial real estate, with a diversified portfolio of premier office and retail assets, as well as interests in multifamily, triple net lease, industrial, hospitality, self-storage, student housing and manufactured housing assets.
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