Evercore ISI Lowers Brookfield Property Partners (BPY) to In-Line
Evercore ISI cut shares of Brookfield Property Partners (NASDAQ:BPY) (TSE:BPY.UN) from an outperform rating to an in-line rating in a report published on Monday morning, Marketbeat reports.
BPY has been the topic of several other research reports. BidaskClub cut shares of Brookfield Property Partners from a hold rating to a sell rating in a report on Thursday, August 17th. Canaccord Genuity restated a buy rating and issued a $28.00 target price on shares of Brookfield Property Partners in a report on Monday, October 2nd. TheStreet cut shares of Brookfield Property Partners from a c- rating to a d+ rating in a report on Wednesday, December 6th. Finally, Scotiabank raised their target price on shares of Brookfield Property Partners from $25.25 to $25.50 and gave the stock an outperform rating in a report on Monday, November 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $25.17.
Brookfield Property Partners (NASDAQ:BPY) opened at $21.81 on Monday. Brookfield Property Partners has a 52-week low of $21.04 and a 52-week high of $24.96. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market cap of $5,507.86, a P/E ratio of 89.71 and a beta of 0.86.
Brookfield Property Partners declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 16th that permits the company to repurchase 20,470,000 outstanding shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be issued a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend is Wednesday, November 29th. Brookfield Property Partners’s dividend payout ratio is 491.69%.
An institutional investor recently raised its position in Brookfield Property Partners stock. GSA Capital Partners LLP increased its holdings in Brookfield Property Partners L.P. (NASDAQ:BPY) (TSE:BPY.UN) by 54.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,213 shares of the financial services provider’s stock after acquiring an additional 25,368 shares during the quarter. GSA Capital Partners LLP’s holdings in Brookfield Property Partners were worth $1,686,000 as of its most recent filing with the Securities & Exchange Commission. 61.73% of the stock is currently owned by hedge funds and other institutional investors.
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Brookfield Property Partners 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.
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