Mizuho Upgrades Brookfield Property Partners (BPY) to “Buy”
Mizuho upgraded shares of Brookfield Property Partners (NASDAQ:BPY) (TSE:BPY.UN) to a buy rating in a research report released on Monday. Mizuho currently has $24.00 target price on the financial services provider’s stock.
BPY has been the subject of several other reports. Scotiabank cut their price objective on shares of Brookfield Property Partners from $25.25 to $24.75 and set an outperform rating for the company in a research report on Friday, February 9th. BidaskClub cut shares of Brookfield Property Partners from a hold rating to a sell rating in a research report on Wednesday, March 14th. Evercore ISI cut shares of Brookfield Property Partners from an outperform rating to an in-line rating in a research report on Monday, December 11th. Finally, TheStreet cut shares of Brookfield Property Partners from a c- rating to a d+ rating in a research report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Brookfield Property Partners has an average rating of Hold and a consensus target price of $24.75.
Shares of Brookfield Property Partners stock opened at $19.60 on Monday. Brookfield Property Partners has a 12-month low of $19.53 and a 12-month high of $24.96. The stock has a market cap of $5,041.66, a PE ratio of 40.00 and a beta of 0.83. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.29 and a current ratio of 0.29.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Wednesday, February 28th will be paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 6.43%. The ex-dividend date of this dividend is Tuesday, February 27th. This is a positive change from Brookfield Property Partners’s previous quarterly dividend of $0.30. Brookfield Property Partners’s dividend payout ratio (DPR) is 257.14%.
A number of hedge funds have recently made changes to their positions in BPY. KCS Wealth Advisory purchased a new position in Brookfield Property Partners during the fourth quarter worth about $237,000. Jane Street Group LLC purchased a new position in shares of Brookfield Property Partners in the fourth quarter valued at approximately $392,000. Waratah Capital Advisors Ltd. purchased a new position in shares of Brookfield Property Partners in the fourth quarter valued at approximately $444,000. K2 Principal Fund L.P. purchased a new position in shares of Brookfield Property Partners in the fourth quarter valued at approximately $696,000. Finally, NewSquare Capital LLC boosted its stake in shares of Brookfield Property Partners by 8.3% in the fourth quarter. NewSquare Capital LLC now owns 42,265 shares of the financial services provider’s stock valued at $937,000 after purchasing an additional 3,242 shares during the period. 61.85% of the stock is owned by 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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