Canaccord Genuity reiterated their buy rating on shares of Brookfield Property Partners L.P. (NYSE:BPY) (TSE:BPY.UN) in a research report sent to investors on Monday morning. The firm currently has a $28.00 price target on the financial services provider’s stock.

Several other research firms have also recently weighed in on BPY. BidaskClub cut Brookfield Property Partners L.P. from a buy rating to a hold rating in a report on Friday, July 28th. Royal Bank Of Canada restated a buy rating and set a $26.00 price target on shares of Brookfield Property Partners L.P. in a report on Friday, July 7th.

Brookfield Property Partners L.P. (NYSE:BPY) traded up 1.171% on Monday, reaching $23.755. 15,518 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $23.44 and its 200 day moving average is $23.02. The company has a market cap of $6.08 billion, a price-to-earnings ratio of 14.592 and a beta of 0.90. Brookfield Property Partners L.P. has a 52 week low of $20.31 and a 52 week high of $24.35.

Brookfield Property Partners L.P. (NYSE:BPY) (TSE:BPY.UN) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.31 earnings per share for the quarter. The company had revenue of $1.02 billion for the quarter. Brookfield Property Partners L.P. had a return on equity of 2.52% and a net margin of 17.30%. On average, equities analysts anticipate that Brookfield Property Partners L.P. will post $0.94 earnings per share for the current year.

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Brookfield Property Partners L.P. announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 16th that authorizes the company to repurchase 20,470,000 outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Thursday, August 31st were issued a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 5.03%. The ex-dividend date was Tuesday, August 29th. Brookfield Property Partners L.P.’s payout ratio is presently 74.68%.

Hedge funds have recently made changes to their positions in the stock. BB&T Securities LLC boosted its holdings in Brookfield Property Partners L.P. by 1.4% in the second quarter. BB&T Securities LLC now owns 38,480 shares of the financial services provider’s stock valued at $910,000 after acquiring an additional 527 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Brookfield Property Partners L.P. by 2.2% in the second quarter. Principal Financial Group Inc. now owns 2,827,739 shares of the financial services provider’s stock valued at $66,933,000 after acquiring an additional 61,402 shares during the last quarter. Suncoast Equity Management boosted its holdings in Brookfield Property Partners L.P. by 24.2% in the second quarter. Suncoast Equity Management now owns 13,865 shares of the financial services provider’s stock valued at $328,000 after acquiring an additional 2,705 shares during the last quarter. Greystone Investment Management LLC boosted its holdings in Brookfield Property Partners L.P. by 1.5% in the second quarter. Greystone Investment Management LLC now owns 231,480 shares of the financial services provider’s stock valued at $5,477,000 after acquiring an additional 3,322 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Brookfield Property Partners L.P. by 101.4% in the second quarter. CIBC Asset Management Inc now owns 4,004,215 shares of the financial services provider’s stock valued at $94,623,000 after acquiring an additional 2,015,707 shares during the last quarter. Institutional investors and hedge funds own 62.32% of the company’s stock.

About Brookfield Property Partners L.P.

Brookfield Property Partners L.P. is a diversified global real estate company. The Company owns, operates and develops a portfolio of office, retail, multifamily, industrial, hospitality, triple net lease, self-storage and student housing assets. Its partnership is Brookfield Asset Management Inc’s public commercial property entity and the primary vehicle through which it invests in real estate on a global basis.

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