Royal Bank of Canada reaffirmed their buy rating on shares of Brookfield Property Partners (NASDAQ:BPY) (TSE:BPY.UN) in a research report report published on Thursday morning, AnalystRatings.com reports. The firm currently has a $22.00 price objective on the financial services provider’s stock.
BPY has been the subject of several other research reports. BidaskClub upgraded shares of Brookfield Property Partners from a sell rating to a hold rating in a report on Thursday, January 16th. Canaccord Genuity lowered shares of Brookfield Property Partners from a buy rating to a hold rating and set a $20.00 price target for the company. in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Brookfield Property Partners currently has an average rating of Buy and a consensus price target of $22.33.
Shares of BPY traded down $0.18 during midday trading on Thursday, reaching $19.18. 946,100 shares of the stock were exchanged, compared to its average volume of 1,518,024. The company has a market capitalization of $8.62 billion, a P/E ratio of 13.60 and a beta of 0.90. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 1.09. Brookfield Property Partners has a 52 week low of $17.52 and a 52 week high of $21.22. The company’s 50 day moving average is $18.56 and its two-hundred day moving average is $19.07.
Brookfield Property Partners (NASDAQ:BPY) (TSE:BPY.UN) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.46 earnings per share for the quarter. Brookfield Property Partners had a net margin of 20.82% and a return on equity of 3.27%. The company had revenue of $1.65 billion during the quarter.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a $0.33 dividend. The ex-dividend date of this dividend was Thursday, November 28th. This represents a $1.32 annualized dividend and a yield of 6.88%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Princeton Global Asset Management LLC purchased a new stake in shares of Brookfield Property Partners during the 2nd quarter valued at $47,000. United Capital Financial Advisers LLC purchased a new stake in Brookfield Property Partners in the second quarter valued at about $192,000. Wells Fargo & Company MN boosted its holdings in Brookfield Property Partners by 7.4% in the second quarter. Wells Fargo & Company MN now owns 16,219 shares of the financial services provider’s stock worth $307,000 after acquiring an additional 1,122 shares in the last quarter. Griffin Asset Management Inc. boosted its holdings in Brookfield Property Partners by 7.3% in the second quarter. Griffin Asset Management Inc. now owns 20,431 shares of the financial services provider’s stock worth $387,000 after acquiring an additional 1,392 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. purchased a new stake in shares of Brookfield Property Partners during the third quarter worth about $539,000. 57.70% of the stock is currently owned by institutional investors and hedge funds.
About Brookfield Property Partners
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.
Further Reading: Are sell-side analysts objective?
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