PenderFund Capital Management Ltd. Acquires 7,600 Shares of Brookfield Co. (NYSE:BN)

PenderFund Capital Management Ltd. boosted its holdings in shares of Brookfield Co. (NYSE:BN) by 23.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,690 shares of the company’s stock after acquiring an additional 7,600 shares during the period. PenderFund Capital Management Ltd.’s holdings in Brookfield were worth $1,815,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Atria Investments Inc grew its position in Brookfield by 68.3% during the 2nd quarter. Atria Investments Inc now owns 52,502 shares of the company’s stock valued at $1,767,000 after purchasing an additional 21,305 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Brookfield during the first quarter valued at approximately $191,000. Parkside Investments LLC raised its holdings in Brookfield by 8.7% in the 2nd quarter. Parkside Investments LLC now owns 206,144 shares of the company’s stock worth $6,937,000 after acquiring an additional 16,472 shares during the last quarter. Marks Group Wealth Management Inc lifted its position in Brookfield by 9.6% in the 2nd quarter. Marks Group Wealth Management Inc now owns 18,310 shares of the company’s stock valued at $616,000 after acquiring an additional 1,609 shares in the last quarter. Finally, Jackson Hill Advisors LLC boosted its stake in Brookfield by 6.6% during the 2nd quarter. Jackson Hill Advisors LLC now owns 479,000 shares of the company’s stock valued at $16,118,000 after purchasing an additional 29,500 shares during the last quarter. Hedge funds and other institutional investors own 58.22% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Brookfield from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Friday, November 10th. Scotiabank dropped their price target on Brookfield from $47.50 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, November 10th. Royal Bank of Canada cut their price objective on Brookfield from $48.00 to $43.00 and set an “outperform” rating for the company in a report on Tuesday, October 24th. JPMorgan Chase & Co. raised their target price on Brookfield from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, November 10th. Finally, CSFB decreased their price objective on shares of Brookfield from $42.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, August 31st. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.78.

Brookfield Stock Down 2.1 %

NYSE:BN traded down $0.72 during mid-day trading on Tuesday, reaching $33.88. The company’s stock had a trading volume of 335,601 shares, compared to its average volume of 2,573,015. The company has a quick ratio of 1.04, a current ratio of 1.22 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $55.53 billion, a PE ratio of -1,153.33 and a beta of 1.45. The stock has a fifty day moving average of $32.28 and a 200-day moving average of $32.64. Brookfield Co. has a 1 year low of $28.25 and a 1 year high of $47.53.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, November 9th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Brookfield had a return on equity of 2.23% and a net margin of 0.12%. The company had revenue of $24.44 billion during the quarter, compared to analyst estimates of $1.07 billion.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.28 annualized dividend and a yield of 0.83%. Brookfield’s dividend payout ratio (DPR) is -933.33%.

Brookfield 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.