Brookfield Property Partners L (NYSE:BPY) Trading Down - Short Interest Up 13.48%

Brookfield Property Partners L (NYSE:BPY) Trading Down - Short Interest Up 13.48%

Brookfield Property Partners LP's $14.8 billion offer for the portion of mall giant GGP Inc.it doesn't already own is a low-ball bid that threatens property values across an industry that's struggling in the age of e-commerce.

BEP has been the topic of a number of recent research reports. Chicago Partners Investment Group LLC bought a new position in shares of Brookfield Renewable Partners L.P. during the second quarter valued at about $259,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Brookfield Property Partners L.P. during the 2nd quarter worth approximately $231,000.

"Although there could be other bidders, we do believe Brookfield is the logical buyer for GGP given its ownership stake", Stifel analysts Simon Yarmak, Jennifer Hummert and Alexander Fraser said in a research note before Monday's announcement. Brookfield Property Partners L.P. CIBC Asset Management Inc lifted its position in Brookfield Property Partners L.P.by 51.8% during the third quarter.

TRADEMARK VIOLATION NOTICE: This piece of content was published by Week Herald and is owned by of Week Herald. If you are reading this article on another publication, it was illegally stolen and republished in violation of United States & worldwide copyright and trademark law. The legal version of this piece of content can be accessed at https://stocknewstimes.com/2017/11/13/brookfield-property-partners-l-p-bpy-earns-buy-rating-from-canaccord-genuity.html. (NYSE BEP) opened at $34.05 on Monday. The stock had a trading volume of 83,500 shares, compared to its average volume of 135,066. The company has a quick ratio of 0.07, a current ratio of 0.23 and a debt-to-equity ratio of 0.61. The company now has a consensus rating of Buy and an average price target of $48.88.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.435 per share. This represents a $1.18 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend is Wednesday, November 29th. Brookfield Property Partners L.P.'s dividend payout ratio is now 513.04%. Public Sector Pension Investment Board now owns 1,239,819 shares with a value of $29,289,000. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases.

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The company is so far trading down since yesterday's close of 23.68. GGP last month reached an agreement with AvalonBay Communities Inc.to build apartments at a shopping center in Seattle, and CEO Sandeep Mathrani said the company "will look to explore similar projects at other locations".

Brookfield Property Partners L.P. (NYSE:BPY)'s stock had its "buy" rating restated by analysts at Canaccord Genuity in a research report issued on Friday, November 3rd.

Brookfield Asset Management Inc., a Canada-based company dealing with the pivotal domain of asset management, is all set to acquire GGP Inc., a giant firm across the real estate investment sector, for United States dollars 14 billion.

Brookfield Property, which is part of Brookfield Asset Management Inc., owns or operates office properties, retail centers and multifamily housing units. Its partnership is Brookfield Asset Management Inc's public commercial property entity and the primary vehicle through which it invests in real estate on a global basis.

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