River Road Asset Management LLC purchased a new stake in Brookfield Property Partners LP (NASDAQ:BPY) (TSE:BPY.UN) in the third quarter, Holdings Channel reports. The firm purchased 48,103 shares of the financial services provider’s stock, valued at approximately $1,005,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of BPY. Moody National Bank Trust Division acquired a new position in Brookfield Property Partners during the 3rd quarter valued at approximately $113,000. Spirit of America Management Corp NY acquired a new position in Brookfield Property Partners during the 3rd quarter valued at approximately $200,000. Nisa Investment Advisors LLC boosted its position in Brookfield Property Partners by 11,317.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,988 shares of the financial services provider’s stock valued at $251,000 after purchasing an additional 11,883 shares during the period. Wealthstreet Investment Advisors LLC acquired a new position in Brookfield Property Partners during the 3rd quarter valued at approximately $292,000. Finally, Wells Fargo & Company MN boosted its position in Brookfield Property Partners by 26.0% during the 1st quarter. Wells Fargo & Company MN now owns 14,286 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 2,952 shares during the period. Institutional investors and hedge funds own 63.78% of the company’s stock.
NASDAQ:BPY opened at $18.72 on Tuesday. Brookfield Property Partners LP has a 12-month low of $18.13 and a 12-month high of $23.72. The company has a market cap of $4.84 billion, a P/E ratio of 9.32 and a beta of 0.89. The company has a quick ratio of 0.35, a current ratio of 0.48 and a debt-to-equity ratio of 0.97.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, November 30th will be given a dividend of $0.315 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.26 dividend on an annualized basis and a yield of 6.73%.
BPY has been the subject of a number of analyst reports. Scotiabank set a $24.00 price objective on Brookfield Property Partners and gave the company a “buy” rating in a research report on Monday. BidaskClub upgraded Brookfield Property Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. Finally, Royal Bank of Canada reduced their price objective on Brookfield Property Partners from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, August 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $24.00.
About Brookfield Property Partners
Brookfield Property Partners is one of the world's premier commercial real estate companies, with approximately $69 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.
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