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Scotiabank Raises Target Price On Brookfield Property Partners L (BPY)
13 November 2017, 08:26 | Kelvin Horton
Brookfield Property Partners LP confirmed Monday it has made a $14.8 billion offer to buy the shares of mall owner GGP Inc. that it doesn't already own. 349.91 million shares or 0.58% less from 351.94 million shares in 2017Q1 were reported. Zacks Investment Research's earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for Brookfield Renewable Partners L.P.
A number of equities analysts recently commented on BPY shares. National Bank Financial raised the price target of the stock on October 18 boosting the projection from $35.00 to $45.00 and stated a "Sector Perform" rating. The stock of Brookfield Property Partners LP (NYSE:BPY) has "Buy" rating given on Wednesday, August 2 by Canaccord Genuity.
Brookfield Property Partners L.P., launched on January 3, 2013, is a diversified global real estate company. RBC Capital Markets maintained Brookfield Property Partners LP (NYSE:BPY) on Friday, August 11 with "Buy" rating. That's about 21 per cent more than Chicago-based GGP's closing price on November 6, the day before Bloomberg reported Brookfield had held discussions about taking the company private. Scotia Capital upgraded it to "Buy" rating and $98.0 target in Thursday, September 28 report. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States & global copyright and trademark laws. The legal version of this piece of content can be accessed at https://stocknewstimes.com/2017/11/13/brookfield-property-partners-l-p-bpy-earns-buy-rating-from-canaccord-genuity.html.
A few notable investment firms have updated their holdings. Greystone Investment Management LLC now owns 41,190 shares of the utilities provider's stock valued at $1,314,000 after buying an additional 3,000 shares during the last quarter. Earlier in the third quarter of this year, Brookfield had purchased 68 million shares of GGP, which were estimated at Dollars 462 million, thereby helping the former raise its ownership stake in GGP Inc. from 29% to 34%. Bollard Group LLC now owns 3,681 shares of the utilities provider's stock worth $151,000 after buying an additional 38 shares during the period. American Assets Capital Advisers bought a new position in Brookfield Renewable Partners L.P. during the 2nd quarter worth $10,520,000. Karpas Strategies LLC now owns 292,195 shares of the company's stock valued at $6,823,000 after acquiring an additional 2,200 shares in the last quarter. CIBC Asset Management Inc lifted its position in Brookfield Property Partners L.P.by 51.8% during the third quarter.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. (NYSE BEP) opened at $34.05 on Monday. The offer would give each GGP shareholder $23 in cash per share or 0.9656 of a limited partnership unit of Brookfield. The company has a quick ratio of 0.07, a current ratio of 0.23 and a debt-to-equity ratio of 0.61. Moreover, Conning Inc has 0.02% invested in Brookfield Property Partners LP (NYSE:BPY). Phillips 66 (NYSE:PSX) has risen 0.77% since November 13, 2016 and is uptrending. This represents a $1.74 annualized dividend and a yield of 4.00%. This is an increase from Brookfield Renewable Partners L.P.'s previous quarterly dividend of $0.47. The rating was maintained by TD Securities with "Buy" on Wednesday, November 1. Brookfield Infrastructure Partners's payout ratio is 644.44%.
Brookfield Renewable Partners L.P., formerly Brookfield Renewable Energy Partners L.P., is the owner and operator of a portfolio of assets that generate electricity from renewable resources. The company sells its generation output primarily to public power authorities, load-serving utilities, and industrial users. Its segments include Hydroelectric, Wind, Other and Corporate.
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