ETF Managers Group LLC purchased a new stake in Brookfield Property Partners L.P. (NYSE:BPY) (TSE:BPY.UN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,424 shares of the financial services provider’s stock, valued at approximately $105,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BPY. Stifel Financial Corp grew its position in 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 valued at $392,000 after purchasing an additional 8,428 shares during the period. Renaissance Technologies LLC grew its position in Brookfield Property Partners L.P. by 52.4% in the 1st quarter. Renaissance Technologies LLC now owns 445,398 shares of the financial services provider’s stock valued at $9,924,000 after purchasing an additional 153,156 shares during the period. Bank of America Corp DE grew its position in Brookfield Property Partners L.P. by 25.2% in the 1st quarter. Bank of America Corp DE now owns 232,836 shares of the financial services provider’s stock valued at $5,183,000 after purchasing an additional 46,792 shares during the period. Jane Street Group LLC acquired a new stake in Brookfield Property Partners L.P. in the 1st quarter valued at $230,000. Finally, Nuveen Asset Management LLC grew its position in Brookfield Property Partners L.P. by 7.1% in the 1st quarter. Nuveen Asset Management LLC now owns 216,928 shares of the financial services provider’s stock valued at $4,829,000 after purchasing an additional 14,377 shares during the period. 62.32% of the stock is owned by institutional investors and hedge funds.

Several brokerages have weighed in on BPY. Royal Bank Of Canada restated a “buy” rating and set a $26.00 price objective on shares of Brookfield Property Partners L.P. in a research note on Friday, July 7th. BidaskClub upgraded Brookfield Property Partners L.P. from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. Finally, Canaccord Genuity restated a “buy” rating and set a $28.00 price objective on shares of Brookfield Property Partners L.P. in a research note on Monday, October 2nd.

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Shares of Brookfield Property Partners L.P. (NYSE BPY) traded up 1.02% during trading on Friday, reaching $23.72. The company’s stock had a trading volume of 53,941 shares. The firm has a market cap of $6.07 billion, a P/E ratio of 14.57 and a beta of 0.90. The stock’s 50 day moving average is $23.44 and its 200 day moving average is $23.03. Brookfield Property Partners L.P. has a one year low of $20.31 and a one year high of $24.35.

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

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

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

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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