Cary Street Partners Investment Advisory LLC cut its stake in Brookfield Co. (NYSE:BN – Free Report) by 5.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,077 shares of the company’s stock after selling 550 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Brookfield were worth $305,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in BN. TIAA FSB purchased a new stake in shares of Brookfield in the 4th quarter worth $799,000. Triasima Portfolio Management inc. bought a new position in Brookfield during the 4th quarter worth about $37,672,000. Victory Capital Management Inc. purchased a new position in Brookfield during the 4th quarter valued at about $1,548,000. American Century Companies Inc. bought a new stake in shares of Brookfield in the 4th quarter valued at about $1,483,000. Finally, Barclays PLC purchased a new stake in shares of Brookfield in the 4th quarter worth approximately $748,000. Hedge funds and other institutional investors own 58.22% of the company’s stock.
Brookfield Stock Performance
Shares of Brookfield stock opened at $34.60 on Tuesday. The company has a 50 day moving average price of $32.28 and a 200 day moving average price of $32.64. The firm has a market capitalization of $56.71 billion, a P/E ratio of -1,153.33 and a beta of 1.45. The company has a quick ratio of 1.04, a current ratio of 1.22 and a debt-to-equity ratio of 1.34. Brookfield Co. has a 52 week low of $28.25 and a 52 week high of $47.53.
Brookfield Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.28 annualized dividend and a yield of 0.81%. Brookfield’s payout ratio is presently -933.33%.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on BN. Keefe, Bruyette & Woods boosted their price objective on shares of Brookfield from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Friday, November 10th. CSFB reduced their price target on Brookfield from $42.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, August 31st. Scotiabank dropped their price objective on Brookfield from $47.50 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, November 10th. Canaccord Genuity Group downgraded shares of Brookfield from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Finally, CIBC lowered their price target on shares of Brookfield from $47.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, November 10th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.78.
Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.
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