Brookfield Property Partners LP (BPY) Downgraded by Canaccord Genuity

Brookfield Property Partners LP (BPY) Downgraded by Canaccord Genuity

"This transaction will provide GGP shareholders the option to immediately realize value for their shares at a 21% premium in cash and the opportunity to continue to participate in the growth of a leading, globally diversified real estate company that will be able to grow faster and create more value than either could on a stand-alone basis", Kingston said. As part of the restructuring agreement, Brookfield agreed to not increase its ownership beyond 45 per cent. Brookfield has since moved to increase its stake within those boundaries, and in November 2013 Brookfield Property Partners invested another $1.4 billion U.S. to increase its stake. CIBC World Markets Inc. bought a new stake in Brookfield Infrastructure Partners during the 2nd quarter worth approximately $57,006,000. As of quarter end Scotia Capital Inc. had acquired 121,505 shares growing its stake by 4.3%. Renaissance Technologies LLC increased its stake in shares of Brookfield Property Partners L.P.by 52.4% in the 1st quarter. Advisors Capital Management LLC now owns 99,463 shares of the utilities provider's stock worth $4,069,000 after buying an additional 2,510 shares during the period. Bollard Group LLC now owns 3,681 shares of the utilities provider's stock valued at $151,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 63.24% of the company's stock. If you are viewing this piece on another site, it was copied illegally and reposted in violation of USA & worldwide trademark and copyright legislation. The legal version of this report can be viewed at https://www.truebluetribune.com/2017/11/13/brookfield-property-partners-l-p-bpy-downgraded-by-canaccord-genuity.html.

Shares of Brookfield Property Partners L.P.

Shares of Brookfield Infrastructure Partners LP (NYSE BIP) traded down $0.08 on Monday, hitting $43.39.

Brookfield now owns about 34% of GGP and wants to buy the rest of the company for $23 a share. The most current P/E ratio is 98.60 and the market cap of the company is 5.79B.

Brookfield now owns about 34 per cent of the company, which operates as a publicly-traded trust. Brookfield Property Partners L.P. has a 12 month low of $20.31 and a 12 month high of $24.96.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, November 30th will be given a dividend of $0.295 per share. The ex-dividend date is Wednesday, November 29th.

Brookfield Property now holds approximately $68 billion in total assets. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

Other equities research analysts also recently issued reports about the stock.

Zacks Investment Research cut shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) from a buy rating to a hold rating in a report issued on Tuesday. Scotiabank lifted their price objective on Brookfield Property Partners L.P. from $25.25 to $25.50 and gave the company an "outperform" rating in a research note on Monday, November 6th.

ILLEGAL ACTIVITY WARNING: "Lucas Capital Management Has $3.18 Million Stake in Brookfield Infrastructure Partners LP (BIP)" was originally reported by Week Herald and is the sole property of of Week Herald.

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