Brookfield Corporation $BN Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lessened its holdings in shares of Brookfield Corporation (NYSE:BN) by 23.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,058 shares of the company’s stock after selling 17,649 shares during the period. Sanctuary Advisors LLC’s holdings in Brookfield were worth $2,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. MCF Advisors LLC purchased a new position in Brookfield during the fourth quarter valued at approximately $26,000. Quattro Advisors LLC acquired a new position in shares of Brookfield in the 4th quarter valued at $26,000. Exchange Traded Concepts LLC purchased a new stake in Brookfield during the fourth quarter worth $27,000. Truvestments Capital LLC grew its position in Brookfield by 49.9% during the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock valued at $29,000 after buying an additional 213 shares during the period. Finally, New England Capital Financial Advisors LLC increased its holdings in Brookfield by 50.2% in the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock valued at $34,000 after buying an additional 251 shares in the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BN. Morgan Stanley set a $59.00 target price on shares of Brookfield and gave the stock an “overweight” rating in a research note on Tuesday. TD Securities restated a “buy” rating and issued a $60.00 price target on shares of Brookfield in a research note on Tuesday, May 19th. Scotia upped their price target on Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. raised their price objective on Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.64.

Brookfield Stock Down 0.5%

NYSE BN opened at $42.19 on Wednesday. The business has a fifty day moving average price of $44.39 and a 200 day moving average price of $44.43. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. The company has a market cap of $103.40 billion, a P/E ratio of 82.72 and a beta of 1.54. Brookfield Corporation has a one year low of $37.93 and a one year high of $49.56.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 15th. Brookfield’s dividend payout ratio (DPR) is currently 54.90%.

About Brookfield

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.