Brookfield Property Partners (NASDAQ:BPY) Earns Sector Outperform Rating from Analysts at CIBC

CIBC assumed coverage on shares of Brookfield Property Partners (NASDAQ:BPY) (TSE:BPY.UN) in a research note released on Wednesday, BenzingaRatingsTable reports. The firm issued a sector outperform rating and a $25.00 price objective on the financial services provider’s stock.

Several other brokerages have also recently issued reports on BPY. BidaskClub upgraded Brookfield Property Partners from a sell rating to a hold rating in a research note on Saturday, July 27th. Royal Bank of Canada cut Brookfield Property Partners from a top pick rating to an outperform rating and set a $24.00 target price for the company. in a research note on Tuesday, May 7th. Finally, TheStreet cut Brookfield Property Partners from a c- rating to a d+ rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $24.33.

Shares of BPY stock traded down $0.25 during trading on Wednesday, hitting $19.31. The company had a trading volume of 653,865 shares, compared to its average volume of 848,822. The company has a quick ratio of 0.42, a current ratio of 0.12 and a debt-to-equity ratio of 0.03. The company has a market cap of $8.07 billion, a price-to-earnings ratio of 13.87 and a beta of 0.95. The stock’s 50-day simple moving average is $19.10. Brookfield Property Partners has a one year low of $14.96 and a one year high of $21.22.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, August 29th. This is a boost from Brookfield Property Partners’s previous quarterly dividend of $0.33. This represents a $2.64 annualized dividend and a yield of 13.67%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Whittier Trust Co. lifted its stake in Brookfield Property Partners by 858.8% during the first quarter. Whittier Trust Co. now owns 1,534 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 1,374 shares during the last quarter. Sandy Spring Bank bought a new position in shares of Brookfield Property Partners in the 2nd quarter valued at $33,000. Institutional & Family Asset Management LLC bought a new position in shares of Brookfield Property Partners in the 1st quarter valued at $37,000. Coastal Investment Advisors Inc. lifted its stake in shares of Brookfield Property Partners by 33.4% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 2,525 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 632 shares during the last quarter. Finally, Nvwm LLC bought a new position in shares of Brookfield Property Partners in the 2nd quarter valued at $47,000. Hedge funds and other institutional investors own 59.70% of the company’s stock.

Brookfield Property Partners Company Profile

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.

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