Ninepoint Partners LP Raises Position in Brookfield Property Partners LP (BPY)
Ninepoint Partners LP boosted its stake in shares of Brookfield Property Partners LP (NASDAQ:BPY) (TSE:BPY.UN) by 993.3% during the first quarter, HoldingsChannel reports. The firm owned 546,849 shares of the financial services provider’s stock after purchasing an additional 496,829 shares during the quarter. Brookfield Property Partners makes up about 2.1% of Ninepoint Partners LP’s investment portfolio, making the stock its 4th biggest position. Ninepoint Partners LP’s holdings in Brookfield Property Partners were worth $11,249,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. acquired a new stake in Brookfield Property Partners in the fourth quarter worth about $26,000. Parallel Advisors LLC boosted its holdings in Brookfield Property Partners by 743.5% in the fourth quarter. Parallel Advisors LLC now owns 1,687 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,487 shares in the last quarter. We Are One Seven LLC acquired a new stake in Brookfield Property Partners in the fourth quarter worth about $29,000. Whittier Trust Co. boosted its holdings in Brookfield Property Partners by 858.8% in the first quarter. Whittier Trust Co. now owns 1,534 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 1,374 shares in the last quarter. Finally, Nordea Investment Management AB acquired a new stake in Brookfield Property Partners in the third quarter worth about $42,000. 60.80% of the stock is currently owned by institutional investors.
BPY has been the subject of several recent analyst reports. BidaskClub raised Brookfield Property Partners from a “hold” rating to a “buy” rating in a report on Wednesday, January 16th. TheStreet raised Brookfield Property Partners from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. Finally, Royal Bank of Canada downgraded Brookfield Property Partners from a “top pick” rating to an “outperform” rating and set a $24.00 price target for the company. in a report on Tuesday, May 7th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $24.00.
Brookfield Property Partners (NASDAQ:BPY) (TSE:BPY.UN) last announced its quarterly earnings data on Monday, May 6th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter. Brookfield Property Partners had a return on equity of 4.10% and a net margin of 30.52%. The firm had revenue of $1.50 billion during the quarter.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.60%. The ex-dividend date is Thursday, May 30th.
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About Brookfield Property Partners
Brookfield Property Partners, through Brookfield Property Partners L.P. and its subsidiary Brookfield Property REIT Inc, is one of the world's premier commercial real estate companies, with approximately $87 billion in total assets. We are leading owners, operators and investors in commercial real estate, with a diversified portfolio of premier office and retail assets, as well as interests in multifamily, triple net lease, industrial, hospitality, self-storage, student housing and manufactured housing assets.
Further Reading: Trading Strategy
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