TD Asset Management Inc. increased its position in shares of Brookfield Property Partners LP (NASDAQ:BPY) (TSE:BPY.UN) by 97.1% in the 3rd quarter, Holdings Channel reports. The firm owned 5,867,391 shares of the financial services provider’s stock after purchasing an additional 2,890,881 shares during the quarter. TD Asset Management Inc.’s holdings in Brookfield Property Partners were worth $122,604,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System acquired a new stake in Brookfield Property Partners during the 3rd quarter worth approximately $1,007,000. Wealthstreet Investment Advisors LLC acquired a new stake in Brookfield Property Partners during the 3rd quarter worth approximately $292,000. Moody National Bank Trust Division acquired a new stake in Brookfield Property Partners during the 3rd quarter worth approximately $113,000. Intact Investment Management Inc. lifted its holdings in Brookfield Property Partners by 64.2% during the 3rd quarter. Intact Investment Management Inc. now owns 1,948,390 shares of the financial services provider’s stock worth $52,431,000 after purchasing an additional 761,700 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in Brookfield Property Partners during the 3rd quarter worth approximately $516,000. 63.78% of the stock is owned by institutional investors and hedge funds.
Brookfield Property Partners stock opened at $18.46 on Monday. Brookfield Property Partners LP has a one year low of $18.13 and a one year high of $23.72. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.35 and a current ratio of 0.48. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 9.32 and a beta of 0.89.
A number of equities analysts have commented on the company. Royal Bank of Canada lowered their price objective on Brookfield Property Partners from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday. BidaskClub lowered Brookfield Property Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $24.00.
About Brookfield Property Partners
Brookfield Property Partners is one of the world's premier commercial real estate companies, with approximately $69 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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