NN Investment Partners Holdings N.V. Acquires Shares of 24,690 Brookfield Property Partners LP (BPY)
NN Investment Partners Holdings N.V. acquired a new position in Brookfield Property Partners LP (NASDAQ:BPY) (TSE:BPY.UN) during the third quarter, according to its most recent filing with the SEC. The firm acquired 24,690 shares of the financial services provider’s stock, valued at approximately $516,000.
Other hedge funds have also modified their holdings of the company. Barometer Capital Management Inc. bought a new stake in shares of Brookfield Property Partners during the third quarter valued at approximately $752,000. Renaissance Technologies LLC boosted its position in shares of Brookfield Property Partners by 335.9% during the second quarter. Renaissance Technologies LLC now owns 555,214 shares of the financial services provider’s stock valued at $10,558,000 after purchasing an additional 427,851 shares in the last quarter. Hexavest Inc. bought a new stake in shares of Brookfield Property Partners during the third quarter valued at approximately $22,396,000. K.J. Harrison & Partners Inc bought a new stake in shares of Brookfield Property Partners during the third quarter valued at approximately $2,283,000. Finally, Intact Investment Management Inc. boosted its position in shares of Brookfield Property Partners by 14.4% during the second quarter. Intact Investment Management Inc. now owns 1,186,690 shares of the financial services provider’s stock valued at $29,572,000 after purchasing an additional 149,300 shares in the last quarter. Hedge funds and other institutional investors own 63.78% of the company’s stock.
Several equities research analysts recently weighed in on the company. Royal Bank of Canada dropped their price target on Brookfield Property Partners from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, November 2nd. BidaskClub lowered Brookfield Property Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Finally, Scotiabank set a $24.00 price target on Brookfield Property Partners and gave the company a “buy” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $24.00.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, November 30th will be given a dividend of $0.315 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.26 annualized dividend and a dividend yield of 6.65%.
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About Brookfield Property Partners
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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