Letko Brosseau & Associates Inc. Trims Stock Holdings in Brookfield Property Partners LP (NASDAQ:BPY)

Letko Brosseau & Associates Inc. trimmed its holdings in Brookfield Property Partners LP (NASDAQ:BPY) (TSE:BPY.UN) by 0.4% in the second quarter, Holdings Channel reports. The institutional investor owned 7,916,846 shares of the financial services provider’s stock after selling 29,702 shares during the quarter. Brookfield Property Partners accounts for approximately 1.5% of Letko Brosseau & Associates Inc.’s investment portfolio, making the stock its 23rd biggest holding. Letko Brosseau & Associates Inc.’s holdings in Brookfield Property Partners were worth $149,885,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BPY. The Manufacturers Life Insurance Company grew its stake in Brookfield Property Partners by 22.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 11,897,785 shares of the financial services provider’s stock valued at $244,737,000 after buying an additional 2,176,025 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in Brookfield Property Partners in the 1st quarter valued at approximately $40,378,000. Montrusco Bolton Investments Inc. grew its stake in Brookfield Property Partners by 21.5% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 3,493,727 shares of the financial services provider’s stock valued at $72,669,000 after buying an additional 617,359 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Brookfield Property Partners by 18.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,613,091 shares of the financial services provider’s stock valued at $74,347,000 after purchasing an additional 571,862 shares in the last quarter. Finally, Ninepoint Partners LP grew its position in shares of Brookfield Property Partners by 993.3% during the 1st quarter. Ninepoint Partners LP now owns 546,849 shares of the financial services provider’s stock valued at $11,249,000 after purchasing an additional 496,829 shares in the last quarter. Institutional investors and hedge funds own 58.68% of the company’s stock.

A number of research analysts have recently commented on BPY shares. Royal Bank of Canada lowered shares of Brookfield Property Partners from a “top pick” rating to an “outperform” rating and set a $24.00 price target for the company. in a research report on Tuesday, May 7th. TheStreet lowered shares of Brookfield Property Partners from a “c-” rating to a “d+” rating in a research report on Friday, August 2nd. CIBC started coverage on shares of Brookfield Property Partners in a research report on Wednesday, August 7th. They set a “sector outperform” rating and a $25.00 price target for the company. Finally, BidaskClub upgraded shares of Brookfield Property Partners from a “sell” rating to a “hold” rating in a research report on Saturday, July 27th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $24.33.



Shares of BPY traded up $0.05 during mid-day trading on Thursday, reaching $18.79. 38,992 shares of the stock traded hands, compared to its average volume of 824,078. The business has a fifty day simple moving average of $19.07. The firm has a market cap of $7.97 billion, a P/E ratio of 13.84 and a beta of 0.95. The company has a current ratio of 0.12, a quick ratio of 0.42 and a debt-to-equity ratio of 0.03. Brookfield Property Partners LP has a 1 year low of $14.96 and a 1 year high of $21.22.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be given a dividend of $0.66 per share. This is a positive change from Brookfield Property Partners’s previous quarterly dividend of $0.33. This represents a $2.64 dividend on an annualized basis and a dividend yield of 14.05%. The ex-dividend date is Thursday, August 29th.

About Brookfield Property Partners

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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Institutional Ownership by Quarter for Brookfield Property Partners (NASDAQ:BPY)

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