Brookfield Property Partners (BPY) Given a $24.00 Price Target at Scotiabank

Scotiabank set a $24.00 price target on Brookfield Property Partners (NASDAQ:BPY) (TSE:BPY.UN) in a research note released on Monday. The brokerage currently has a buy rating on the financial services provider’s stock.

BPY has been the topic of a number of other reports. Royal Bank of Canada reduced their target price on shares of Brookfield Property Partners from $25.00 to $24.00 and set an outperform rating on the stock in a report on Friday, November 2nd. BidaskClub lowered shares of Brookfield Property Partners from a sell rating to a strong sell rating in a report on Wednesday, August 15th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $24.00.

Shares of Brookfield Property Partners stock opened at $19.14 on Monday. The company has a market cap of $4.90 billion, a P/E ratio of 9.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.35 and a current ratio of 0.48. Brookfield Property Partners has a 1 year low of $18.13 and a 1 year high of $23.72.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, November 30th will be given a $0.315 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 6.58%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Barometer Capital Management Inc. acquired a new position in shares of Brookfield Property Partners in the 3rd quarter worth approximately $752,000. Hexavest Inc. acquired a new position in shares of Brookfield Property Partners in the 3rd quarter worth approximately $22,396,000. TD Asset Management Inc. lifted its position in shares of Brookfield Property Partners by 97.1% in the 3rd quarter. TD Asset Management Inc. now owns 5,867,391 shares of the financial services provider’s stock worth $122,604,000 after purchasing an additional 2,890,881 shares during the period. Renaissance Technologies LLC lifted its position in shares of Brookfield Property Partners by 335.9% in the 2nd quarter. Renaissance Technologies LLC now owns 555,214 shares of the financial services provider’s stock worth $10,558,000 after purchasing an additional 427,851 shares during the period. Finally, K.J. Harrison & Partners Inc acquired a new position in shares of Brookfield Property Partners in the 3rd quarter worth approximately $2,283,000. Hedge funds and other institutional investors own 63.78% of the company’s stock.

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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Analyst Recommendations for Brookfield Property Partners (NASDAQ:BPY)

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