Manitou Investment Management Ltd. acquired a new stake in Brookfield Property Partners LP (NYSE:BPY) during the second quarter, Holdings Channel reports. The firm acquired 214,004 shares of the company’s stock, valued at approximately $4,779,000. Brookfield Property Partners accounts for about 1.5% of Manitou Investment Management Ltd.’s portfolio, making the stock its 27th largest position.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada increased its stake in Brookfield Property Partners by 1.8% in the first quarter. Royal Bank of Canada now owns 28,919,736 shares of the company’s stock valued at $670,359,000 after buying an additional 521,990 shares in the last quarter. Scotia Capital Inc. increased its stake in Brookfield Property Partners by 13.7% in the first quarter. Scotia Capital Inc. now owns 2,028,963 shares of the company’s stock valued at $46,727,000 after buying an additional 244,070 shares in the last quarter. First Manhattan Co. increased its stake in Brookfield Property Partners by 2.3% in the second quarter. First Manhattan Co. now owns 885,519 shares of the company’s stock valued at $19,807,000 after buying an additional 19,932 shares in the last quarter. Bank of Montreal Can bought a new stake in Brookfield Property Partners during the second quarter valued at $15,694,000. Finally, CIBC World Markets Inc. increased its stake in Brookfield Property Partners by 14.2% in the second quarter. CIBC World Markets Inc. now owns 562,551 shares of the company’s stock valued at $12,635,000 after buying an additional 69,818 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.
Brookfield Property Partners LP (NYSE:BPY) traded up 1.86% during mid-day trading on Tuesday, hitting $22.98. 109,304 shares of the stock traded hands. The company has a 50 day moving average of $22.78 and a 200-day moving average of $23.48. The stock has a market cap of $6.02 billion, a PE ratio of 11.00 and a beta of 0.94. Brookfield Property Partners LP has a 12-month low of $18.69 and a 12-month high of $24.98.
Brookfield Property Partners (NYSE:BPY) last posted its quarterly earnings data on Friday, August 5th. The company reported $0.35 EPS for the quarter. The business earned $1.28 billion during the quarter, compared to analyst estimates of $1.22 billion. Brookfield Property Partners had a net margin of 28.56% and a return on equity of 4.34%. Equities research analysts forecast that Brookfield Property Partners LP will post $2.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, August 31st were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.12 annualized dividend and a yield of 4.87%. Brookfield Property Partners’s dividend payout ratio (DPR) is 48.91%.
Several research firms have weighed in on BPY. Zacks Investment Research raised shares of Brookfield Property Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, July 4th. RBC Capital Markets reissued an “outperform” rating and set a $33.00 target price on shares of Brookfield Property Partners in a research report on Saturday, October 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $29.00.
Brookfield Property Partners Company Profile
Brookfield Property Partners L.P. is an owner and operator of properties. The Company is engaged in the operation, development and management of retail and other rental properties, primarily regional malls. The Company’s business is organized in three operating platforms: office, retail and other segments.
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