Intact Investment Management Inc. Acquires 185,900 Shares of Brookfield Property Partners (BPY)

Intact Investment Management Inc. raised its holdings in Brookfield Property Partners (NASDAQ:BPY) (TSE:BPY.UN) by 21.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,037,390 shares of the financial services provider’s stock after acquiring an additional 185,900 shares during the quarter. Brookfield Property Partners makes up about 1.0% of Intact Investment Management Inc.’s portfolio, making the stock its 29th largest holding. Intact Investment Management Inc. owned about 0.41% of Brookfield Property Partners worth $25,624,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Karpas Strategies LLC boosted its stake in shares of Brookfield Property Partners by 24.2% in the 1st quarter. Karpas Strategies LLC now owns 375,181 shares of the financial services provider’s stock valued at $7,200,000 after purchasing an additional 72,986 shares during the last quarter. PenderFund Capital Management Ltd. bought a new stake in shares of Brookfield Property Partners in the 1st quarter valued at $9,017,000. DT Investment Partners LLC boosted its stake in shares of Brookfield Property Partners by 12.2% in the 1st quarter. DT Investment Partners LLC now owns 110,132 shares of the financial services provider’s stock valued at $2,113,000 after purchasing an additional 11,944 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Brookfield Property Partners by 6.6% in the 1st quarter. CIBC Asset Management Inc now owns 6,429,087 shares of the financial services provider’s stock valued at $123,218,000 after purchasing an additional 397,892 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Brookfield Property Partners by 26.0% in the 1st quarter. Wells Fargo & Company MN now owns 14,286 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 2,952 shares during the last quarter. Hedge funds and other institutional investors own 62.58% of the company’s stock.

A number of equities research analysts have recently commented on BPY shares. Scotiabank set a $25.00 price objective on shares of Brookfield Property Partners and gave the company a “buy” rating in a research note on Saturday, February 10th. BidaskClub lowered shares of Brookfield Property Partners from a “hold” rating to a “sell” rating in a research note on Saturday, February 17th. Canaccord Genuity raised shares of Brookfield Property Partners from a “hold” rating to a “buy” rating and upped their price objective for the company from $19.39 to $24.00 in a research note on Tuesday, March 27th. Finally, Mizuho raised shares of Brookfield Property Partners to a “buy” rating and set a $24.00 price objective on the stock in a research note on Monday, March 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Brookfield Property Partners has a consensus rating of “Buy” and an average price target of $24.50.

Shares of NASDAQ BPY opened at $19.45 on Wednesday. The firm has a market cap of $4.97 billion, a P/E ratio of 14.03 and a beta of 0.84. Brookfield Property Partners has a 12-month low of $19.15 and a 12-month high of $19.47. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.29 and a current ratio of 0.36.

Brookfield Property Partners (NASDAQ:BPY) (TSE:BPY.UN) last issued its earnings results on Friday, May 4th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter. The business had revenue of $1.11 billion for the quarter. Brookfield Property Partners had a net margin of 30.42% and a return on equity of 4.20%.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Thursday, May 31st will be paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 6.48%. The ex-dividend date of this dividend is Wednesday, May 30th.

Brookfield Property Partners Company Profile

Brookfield Property Partners is one of the world's largest commercial real estate companies, with approximately $68 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.

Institutional Ownership by Quarter for Brookfield Property Partners (NASDAQ:BPY)

Receive News & Ratings for Brookfield Property Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Property Partners and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply