Credit Suisse AG Purchases 2,563,831 Shares of Brookfield Property Partners LP (BPY)

Credit Suisse AG lifted its position in shares of Brookfield Property Partners LP (NASDAQ:BPY) (TSE:BPY.UN) by 2,586.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,662,960 shares of the financial services provider’s stock after buying an additional 2,563,831 shares during the quarter. Credit Suisse AG’s holdings in Brookfield Property Partners were worth $55,627,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Schroder Investment Management Group bought a new stake in Brookfield Property Partners during the third quarter valued at about $590,000. Canada Pension Plan Investment Board bought a new stake in Brookfield Property Partners during the third quarter valued at about $16,559,000. Ontario Teachers Pension Plan Board bought a new stake in Brookfield Property Partners during the third quarter valued at about $233,000. AR Asset Management Inc. bought a new stake in Brookfield Property Partners during the third quarter valued at about $1,162,000. Finally, FMR LLC bought a new stake in Brookfield Property Partners during the third quarter valued at about $25,625,000. 76.85% of the stock is currently owned by institutional investors and hedge funds.

Shares of BPY stock opened at $18.14 on Monday. Brookfield Property Partners LP has a 1-year low of $17.65 and a 1-year high of $22.76. The stock has a market cap of $4.75 billion, a P/E ratio of 9.16 and a beta of 0.89. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.54 and a current ratio of 0.54.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Friday, November 30th will be paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date is Thursday, November 29th.

A number of equities research analysts recently weighed in on the company. BidaskClub downgraded Brookfield Property Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Royal Bank of Canada dropped their price objective on Brookfield Property Partners from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, August 2nd. Finally, Scotiabank set a $24.00 price objective on Brookfield Property Partners and gave the company a “buy” rating in a research report on Monday, November 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $24.00.

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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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Institutional Ownership by Quarter for Brookfield Property Partners (NASDAQ:BPY)

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