Analysts Set Brookfield Canada Office Properties (NYSE:BOXC) PT at $29.50

Brookfield Canada Office Properties (NYSE:BOXC) (TSE:BOX.UN) has been assigned an average recommendation of “Hold” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $29.50.

Separately, BMO Capital Markets lowered Brookfield Canada Office Properties from an “outperform” rating to a “market perform” rating in a report on Friday, April 21st.

Shares of Brookfield Canada Office Properties (NYSE BOXC) traded up 0.04% during mid-day trading on Tuesday, hitting $24.96. 2,330 shares of the company were exchanged. Brookfield Canada Office Properties has a 12-month low of $18.68 and a 12-month high of $25.72. The firm has a 50 day moving average of $24.24 and a 200 day moving average of $23.05.

The firm also recently disclosed a monthly dividend, which was paid on Friday, July 14th. Stockholders of record on Thursday, June 29th were paid a $0.0809 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date was Tuesday, June 27th. Brookfield Canada Office Properties’s dividend payout ratio (DPR) is 83.62%.

Several institutional investors have recently added to or reduced their stakes in BOXC. Two Sigma Investments LP increased its stake in Brookfield Canada Office Properties by 52.7% in the fourth quarter. Two Sigma Investments LP now owns 48,368 shares of the real estate investment trust’s stock worth $944,000 after buying an additional 16,688 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Brookfield Canada Office Properties during the first quarter worth approximately $246,000. Morgan Stanley increased its stake in shares of Brookfield Canada Office Properties by 15.9% in the first quarter. Morgan Stanley now owns 1,883,050 shares of the real estate investment trust’s stock worth $43,987,000 after buying an additional 257,936 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Brookfield Canada Office Properties by 10.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,813 shares of the real estate investment trust’s stock worth $324,000 after buying an additional 1,256 shares during the period. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Brookfield Canada Office Properties during the first quarter worth about $1,104,000. 20.09% of the stock is owned by hedge funds and other institutional investors.

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About Brookfield Canada Office Properties

Brookfield Canada Office Properties is a Canada-based real estate investment trust (REIT). The Company invests, develops and operates commercial office properties in Toronto, Ottawa, Calgary and Vancouver. The Company’s commercial-property portfolio consists of interests in approximately 25 properties totaling approximately 21.1 million square feet, including approximately 4.0 million square feet of parking and other.

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