Mitsubishi UFJ Trust & Banking Corp Buys 94,033 Shares of Brookfield Corporation $BN

Mitsubishi UFJ Trust & Banking Corp raised its stake in Brookfield Corporation (NYSE:BN) by 16.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 658,072 shares of the company’s stock after purchasing an additional 94,033 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Brookfield were worth $45,131,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hilltop National Bank acquired a new stake in shares of Brookfield in the 2nd quarter valued at approximately $30,000. Twin Peaks Wealth Advisors LLC bought a new stake in Brookfield during the second quarter worth $32,000. Ameritas Advisory Services LLC acquired a new stake in Brookfield in the second quarter valued at $33,000. Cary Street Partners Investment Advisory LLC grew its position in shares of Brookfield by 109.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after acquiring an additional 330 shares during the period. Finally, First Horizon Corp acquired a new position in shares of Brookfield during the 3rd quarter worth about $40,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of NYSE BN opened at $47.17 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.31 and a quick ratio of 1.19. The firm has a market cap of $116.82 billion, a price-to-earnings ratio of 131.01 and a beta of 1.58. The stock’s fifty day moving average price is $46.28 and its two-hundred day moving average price is $45.33. Brookfield Corporation has a one year low of $29.07 and a one year high of $49.56.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, November 13th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. On average, equities analysts forecast that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, December 16th. Brookfield’s dividend payout ratio is presently 66.67%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Monday, December 29th. Morgan Stanley set a $54.00 price objective on Brookfield and gave the company an “overweight” rating in a research report on Monday, October 13th. Wall Street Zen lowered Brookfield from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Zacks Research raised Brookfield from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $58.00 price objective (up from $57.00) on shares of Brookfield in a research report on Monday, December 15th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Brookfield presently has a consensus rating of “Buy” and a consensus price target of $53.87.

Brookfield Company Profile

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.