Intact Investment Management Inc. boosted its position in shares of Brookfield Property Partners LP (NASDAQ:BPY) (TSE:BPY.UN) by 64.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,948,390 shares of the financial services provider’s stock after purchasing an additional 761,700 shares during the period. Brookfield Property Partners makes up 1.9% of Intact Investment Management Inc.’s portfolio, making the stock its 18th biggest position. Intact Investment Management Inc. owned 0.74% of Brookfield Property Partners worth $52,431,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Spirit of America Management Corp NY bought a new position in Brookfield Property Partners during the 3rd quarter valued at $200,000. Nisa Investment Advisors LLC boosted its stake in Brookfield Property Partners by 11,317.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,988 shares of the financial services provider’s stock valued at $251,000 after acquiring an additional 11,883 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Brookfield Property Partners by 26.0% during the 1st quarter. Wells Fargo & Company MN now owns 14,286 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 2,952 shares during the last quarter. Dean Capital Investments Management LLC bought a new position in Brookfield Property Partners during the 2nd quarter valued at $361,000. Finally, DNB Asset Management AS bought a new position in Brookfield Property Partners during the 3rd quarter valued at $423,000. 63.11% of the stock is owned by institutional investors and hedge funds.
Shares of Brookfield Property Partners stock traded up $0.03 during trading hours on Monday, reaching $18.91. The company’s stock had a trading volume of 380,542 shares, compared to its average volume of 2,083,621. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.35 and a current ratio of 0.35. Brookfield Property Partners LP has a one year low of $18.13 and a one year high of $23.98. The company has a market cap of $4.95 billion, a P/E ratio of 10.67 and a beta of 0.83.
BPY has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their price objective on shares of Brookfield Property Partners from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, August 2nd. BidaskClub downgraded shares of Brookfield Property Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 15th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $24.25.
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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