Brookfield Property Partners LP (BPY) Downgraded by Canaccord Genuity

Brookfield Property Partners LP (BPY) Downgraded by Canaccord Genuity

Brookfield Property Partners LP (BPY) Downgraded by Canaccord Genuity

"Brookfield's access to large-scale capital and deep operating expertise across multiple real estate sectors combined with GGP's high-quality retail asset base will allow us to maximize the value of these irreplaceable assets", said Brian Kingston, Brookfield Property Partners CEO in a release announcing the bid. The stock now has an average rating of "Buy" and an average price target of $48.88. Bollard Group LLC now owns 3,681 shares of the utilities provider's stock worth $151,000 after buying an additional 38 shares during the period. Brookfield Property Partners L.P. has a 12 month low of $20.31 and a 12 month high of $24.96.

Scotiabank raised the price target of the stock on November 6 changing the price objective from $25.25 to $25.50 with a "Outperform" recommendation. Public Sector Pension Investment Board owns 1,239,819 shares worth $29,289,000.

Brookfield Infrastructure Partners declared that its board has initiated a stock repurchase program on Tuesday, November 7th that permits the company to buyback 13,820,000 shares. Private Advisor Group LLC grew its stake in shares of Brookfield Infrastructure Partners by 38.6% during the second quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. The value of the company's investment in Brookfield Property Partners L increased from $718,000 to $730,000 increasing 1.7% for the reporting period.

October 2 investment analysts at Canaccord Genuity made no change to the stock rating of "Buy" targeting a price of $28.00.

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TRADEMARK VIOLATION NOTICE: This news story was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this article on another site, it was illegally stolen and republished in violation of United States & worldwide trademark & copyright legislation. The company discussed a premium of almost 10% to 15% over the share price of GGP during the starting week of November this year till both the firms reached a consensus on the offer of Dollars 23 per share to the GGP.

According to Zacks, "BROOKFIELD INFRASTRUCTURE PARTNERS L.P. was established by Brookfield Asset Management as its primary vehicle to own and operate certain infrastructure assets on a global basis".

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th.

As of 2 p.m. Monday, General Growth stock was trading at $25.10, down 12 cents a share from its Friday, Nov. 10, close of $25.22. The ex-dividend date is Wednesday, November 29th. BidaskClub upgraded Brookfield Property Partners L.P. from a "sell" rating to a "hold" rating in a research note on Thursday, August 24th.

The Canadian property owner announced on Monday an unsolicited $14.8-billion (U.S.) cash-and-stock bid to buy the rest of US retail real estate company GGP does not own - an acquisition that would give Brookfield "an ownership interest in nearly $100-billion of premier real estate assets globally", the company said. It is a leading owner, operator and investor in commercial real estate, with a diversified portfolio of 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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