Citigroup Inc. lowered its position in Brookfield Property Partners L.P. (NYSE:BPY) (TSE:BPY.UN) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,218 shares of the financial services provider’s stock after selling 118 shares during the quarter. Citigroup Inc.’s holdings in Brookfield Property Partners L.P. were worth $903,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in BPY. Jane Street Group LLC bought a new stake in shares of Brookfield Property Partners L.P. in the 1st quarter worth approximately $230,000. Stratos Wealth Partners LTD. bought a new stake in shares of Brookfield Property Partners L.P. in the 2nd quarter worth approximately $231,000. Ameriprise Financial Inc. bought a new stake in shares of Brookfield Property Partners L.P. in the 2nd quarter worth approximately $293,000. Suncoast Equity Management lifted its position in shares of Brookfield Property Partners L.P. by 24.2% in the 2nd quarter. Suncoast Equity Management now owns 13,865 shares of the financial services provider’s stock worth $328,000 after acquiring an additional 2,705 shares during the period. Finally, Stifel Financial Corp lifted its position in shares of Brookfield Property Partners L.P. by 91.5% in the 1st quarter. Stifel Financial Corp now owns 17,639 shares of the financial services provider’s stock worth $392,000 after acquiring an additional 8,428 shares during the period. Institutional investors own 62.32% of the company’s stock.

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BPY has been the subject of a number of research reports. BidaskClub upgraded Brookfield Property Partners L.P. from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Royal Bank Of Canada reiterated a “buy” rating and issued a $26.00 price objective on shares of Brookfield Property Partners L.P. in a research report on Friday, July 7th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $28.00 price objective on shares of Brookfield Property Partners L.P. in a research report on Monday, October 2nd.

Brookfield Property Partners L.P. (NYSE:BPY) opened at 23.72 on Friday. The company has a market cap of $6.07 billion, a P/E ratio of 14.57 and a beta of 0.90. The company’s 50 day moving average price is $23.44 and its 200 day moving average price is $23.03. 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 issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.31 earnings per share (EPS) for the quarter. The business 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%. Equities research analysts anticipate that Brookfield Property Partners L.P. will post $0.94 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Thursday, August 31st were given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend was Tuesday, August 29th. Brookfield Property Partners L.P.’s dividend payout ratio is currently 74.68%.

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

Brookfield Property Partners L.P. Company Profile

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.

Institutional Ownership by Quarter for Brookfield Property Partners L.P. (NYSE:BPY)

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