Short Interest in Brookfield Co. (NYSE:BN) Rises By 5.9%

Brookfield Co. (NYSE:BN) was the recipient of a large increase in short interest in November. As of November 15th, there was short interest totalling 10,730,000 shares, an increase of 5.9% from the October 31st total of 10,130,000 shares. Approximately 0.9% of the company’s shares are short sold. Based on an average daily trading volume, of 1,850,000 shares, the days-to-cover ratio is presently 5.8 days.

Analyst Ratings Changes

Several analysts recently commented on BN shares. TD Securities raised their price objective on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada decreased their price objective on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Keefe, Bruyette & Woods raised their price objective on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. Scotiabank raised their target price on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research note on Friday, November 15th. Finally, BMO Capital Markets restated an “outperform” rating and set a $62.00 price objective (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.31.

Institutional Investors Weigh In On Brookfield

Several large investors have recently modified their holdings of the stock. Blankinship & Foster LLC purchased a new position in Brookfield in the 3rd quarter valued at approximately $32,389,000. Wilmington Savings Fund Society FSB purchased a new position in Brookfield in the 3rd quarter valued at approximately $784,000. Virtu Financial LLC purchased a new position in Brookfield in the 3rd quarter valued at approximately $211,000. Rehmann Capital Advisory Group purchased a new position in Brookfield in the 3rd quarter valued at approximately $241,000. Finally, Toronto Dominion Bank grew its stake in Brookfield by 23.4% in the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after buying an additional 1,301,072 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of NYSE BN traded down $0.19 during midday trading on Tuesday, reaching $61.32. 900,877 shares of the company were exchanged, compared to its average volume of 2,749,644. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40. Brookfield has a one year low of $35.44 and a one year high of $62.44. The stock has a market cap of $100.98 billion, a P/E ratio of 129.45 and a beta of 1.55. The stock’s 50-day moving average price is $55.52 and its 200-day moving average price is $48.94.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.08 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 0.52%. Brookfield’s dividend payout ratio (DPR) is 68.09%.

Brookfield Company Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.