Orinda Asset Management LLC purchased a new stake in Brookfield Property Partners LP (NASDAQ:BPY) (TSE:BPY.UN) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 18,800 shares of the financial services provider’s stock, valued at approximately $303,000. Brookfield Property Partners comprises approximately 0.8% of Orinda Asset Management LLC’s portfolio, making the stock its 24th biggest position.
A number of other hedge funds and other institutional investors have also modified their holdings of BPY. Carroll Financial Associates Inc. lifted its stake in Brookfield Property Partners by 673.2% during the fourth quarter. Carroll Financial Associates Inc. now owns 1,500 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,306 shares in the last quarter. Nordea Investment Management AB purchased a new stake in Brookfield Property Partners during the third quarter valued at about $42,000. Conning Inc. lifted its stake in Brookfield Property Partners by 13.8% during the third quarter. Conning Inc. now owns 26,168 shares of the financial services provider’s stock valued at $547,000 after buying an additional 3,169 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in Brookfield Property Partners by 69.3% during the third quarter. Glenmede Trust Co. NA now owns 8,000 shares of the financial services provider’s stock valued at $167,000 after buying an additional 3,275 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Brookfield Property Partners by 268.0% during the third quarter. PNC Financial Services Group Inc. now owns 4,784 shares of the financial services provider’s stock valued at $101,000 after buying an additional 3,484 shares in the last quarter. 67.19% of the stock is owned by institutional investors.
BPY has been the subject of a number of analyst reports. Royal Bank of Canada raised shares of Brookfield Property Partners from an “outperform” rating to a “top pick” rating and set a $24.00 price objective for the company in a research note on Wednesday, January 2nd. BidaskClub lowered shares of Brookfield Property Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, January 22nd. ValuEngine raised shares of Brookfield Property Partners from a “sell” rating to a “hold” rating in a research report on Monday, January 7th. Finally, Scotiabank set a $24.00 price target on shares of Brookfield Property Partners and gave the stock a “buy” rating in a research report on Monday, November 5th. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Brookfield Property Partners currently has a consensus rating of “Buy” and an average target price of $24.00.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Thursday, February 28th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $1.32 dividend on an annualized basis and a yield of 6.59%. This is an increase from Brookfield Property Partners’s previous quarterly dividend of $0.32.
COPYRIGHT VIOLATION WARNING: “18,800 Shares in Brookfield Property Partners LP (BPY) Purchased by Orinda Asset Management LLC” was first posted by Baseball Daily News and is the property of of Baseball Daily News. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international trademark & copyright law. The legal version of this piece of content can be read at https://www.baseballdailydigest.com/news/2019/02/14/orinda-asset-management-llc-acquires-shares-of-18800-brookfield-property-partners-lp-bpy.html.
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 $86 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.
Receive News & Ratings for Brookfield Property Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Property Partners and related companies with MarketBeat.com's FREE daily email newsletter.