Brookfield Property Partners LP (NASDAQ:BPY) (TSE:BPY.UN) was the recipient of a significant decline in short interest during the month of September. As of September 28th, there was short interest totalling 8,059,309 shares, a decline of 22.7% from the September 14th total of 10,426,819 shares. Based on an average daily volume of 4,077,284 shares, the short-interest ratio is presently 2.0 days.
A number of hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its stake in Brookfield Property Partners by 26.0% during the first 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 last quarter. NewSquare Capital LLC grew its position in shares of Brookfield Property Partners by 15.6% during the second quarter. NewSquare Capital LLC now owns 53,896 shares of the financial services provider’s stock worth $1,084,000 after acquiring an additional 7,263 shares during the last quarter. Securian Asset Management Inc grew its position in shares of Brookfield Property Partners by 7.7% during the second quarter. Securian Asset Management Inc now owns 107,880 shares of the financial services provider’s stock worth $2,052,000 after acquiring an additional 7,700 shares during the last quarter. Spirit of America Management Corp NY bought a new position in shares of Brookfield Property Partners during the third quarter worth about $200,000. Finally, Radnor Capital Management LLC grew its position in shares of Brookfield Property Partners by 20.2% during the third quarter. Radnor Capital Management LLC now owns 69,413 shares of the financial services provider’s stock worth $1,450,000 after acquiring an additional 11,661 shares during the last quarter. Hedge funds and other institutional investors own 63.07% of the company’s stock.
BPY stock opened at $19.57 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.35 and a quick ratio of 0.35. Brookfield Property Partners has a 1-year low of $18.13 and a 1-year high of $24.96. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 11.80 and a beta of 0.83.
Brookfield Property Partners (NASDAQ:BPY) (TSE:BPY.UN) last released its earnings results on Wednesday, August 1st. The financial services provider reported $0.69 earnings per share for the quarter. Brookfield Property Partners had a net margin of 35.05% and a return on equity of 4.97%. The firm had revenue of $1.22 billion during the quarter.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, August 31st were paid a dividend of $0.315 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $1.26 annualized dividend and a yield of 6.44%.
Several research firms have weighed in on BPY. BidaskClub upgraded shares of Brookfield Property Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, September 11th. Royal Bank of Canada lowered their target price on shares of Brookfield Property Partners from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, August 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Brookfield Property Partners currently has an average rating of “Buy” and a consensus price target of $24.25.
Brookfield Property Partners Company Profile
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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