Brokerages Set Brookfield Property Partners (BPY) Price Target at $24.50

Shares of Brookfield Property Partners (NASDAQ:BPY) (TSE:BPY.UN) have received an average recommendation of “Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $24.50.

A number of research analysts recently weighed in on the company. BidaskClub upgraded Brookfield Property Partners from a “sell” rating to a “hold” rating in a report on Thursday, January 25th. Canaccord Genuity upgraded Brookfield Property Partners from a “hold” rating to a “buy” rating and lifted their target price for the company from $19.39 to $24.00 in a report on Tuesday, March 27th. Scotiabank set a $24.00 target price on Brookfield Property Partners and gave the company a “buy” rating in a report on Tuesday, March 27th. Finally, Mizuho upgraded Brookfield Property Partners to a “buy” rating and set a $24.00 target price on the stock in a report on Monday, March 19th.

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Shares of BPY stock traded up $0.06 during mid-day trading on Friday, hitting $19.47. 19,184 shares of the company’s stock were exchanged, compared to its average volume of 315,459. Brookfield Property Partners has a fifty-two week low of $18.13 and a fifty-two week high of $24.96. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $4,840.34, a price-to-earnings ratio of 38.74 and a beta of 0.85.

Brookfield Property Partners (NASDAQ:BPY) (TSE:BPY.UN) last posted its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter. Brookfield Property Partners had a return on equity of 1.85% and a net margin of 12.89%. The business had revenue of $1.52 billion for the quarter.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Wednesday, February 28th were issued a $0.315 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.26 dividend on an annualized basis and a yield of 6.47%. This is a boost from Brookfield Property Partners’s previous quarterly dividend of $0.30.

A number of institutional investors have recently modified their holdings of BPY. The Manufacturers Life Insurance Company lifted its stake in shares of Brookfield Property Partners by 13.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 10,995,231 shares of the financial services provider’s stock worth $243,654,000 after purchasing an additional 1,299,868 shares in the last quarter. Letko Brosseau & Associates Inc. lifted its stake in shares of Brookfield Property Partners by 21.8% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 7,568,014 shares of the financial services provider’s stock worth $168,218,000 after purchasing an additional 1,356,000 shares in the last quarter. CI Investments Inc. lifted its stake in shares of Brookfield Property Partners by 1.0% during the fourth quarter. CI Investments Inc. now owns 4,871,711 shares of the financial services provider’s stock worth $107,957,000 after purchasing an additional 47,700 shares in the last quarter. Scotia Capital Inc. lifted its stake in shares of Brookfield Property Partners by 6.7% during the fourth quarter. Scotia Capital Inc. now owns 3,733,160 shares of the financial services provider’s stock worth $82,388,000 after purchasing an additional 233,642 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Brookfield Property Partners by 18.1% during the fourth quarter. Mackenzie Financial Corp now owns 2,804,027 shares of the financial services provider’s stock worth $62,137,000 after purchasing an additional 429,621 shares in the last quarter. Hedge funds and other institutional investors own 61.87% of the company’s stock.

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About Brookfield Property Partners

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.

Analyst Recommendations for Brookfield Property Partners (NASDAQ:BPY)

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