Avalon Trust Co Has $1.05 Million Stock Position in Brookfield Corporation (NYSE:BN)

Key Points

• Avalon Trust Co has reduced its stake in Brookfield Corporation by 20.8%, now holding 20,000 shares valued at approximately $1.05 million.
• Analysts have mixed forecasts for Brookfield, with target prices ranging from $65.00 to $75.00 and an average rating of "Moderate Buy."
• Brookfield recently declared a quarterly dividend of $0.09 per share, representing an annualized yield of 0.6%, with a high dividend payout ratio of 128.57%.

Avalon Trust Co decreased its position in Brookfield Corporation (NYSE:BN - Free Report) by 20.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,000 shares of the company's stock after selling 5,249 shares during the period. Avalon Trust Co's holdings in Brookfield were worth $1,048,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Brookfield in the 1st quarter valued at approximately $26,000. North Capital Inc. acquired a new position in Brookfield in the 1st quarter valued at approximately $27,000. ST Germain D J Co. Inc. acquired a new position in Brookfield in the 1st quarter valued at approximately $28,000. CoreCap Advisors LLC acquired a new position in shares of Brookfield in the 4th quarter worth approximately $29,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of Brookfield by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 592 shares of the company's stock worth $31,000 after buying an additional 296 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company's stock.

Wall Street Analysts Forecast Growth

BN has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Morgan Stanley reissued an "overweight" rating on shares of Brookfield in a report on Monday, May 19th. Scotiabank reissued an "outperform" rating and issued a $75.00 target price (up from $69.00) on shares of Brookfield in a report on Wednesday. CIBC dropped their target price on Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a report on Friday, May 9th. Finally, TD Securities dropped their target price on Brookfield from $77.00 to $74.00 and set a "buy" rating for the company in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $70.00.

Brookfield Trading Down 2.6%

BN stock opened at $65.32 on Friday. The business has a fifty day moving average price of $62.02 and a 200 day moving average price of $57.54. Brookfield Corporation has a fifty-two week low of $42.21 and a fifty-two week high of $68.75. The stock has a market capitalization of $107.70 billion, a price-to-earnings ratio of 233.29 and a beta of 1.70. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.30 and a quick ratio of 1.18.

Brookfield (NYSE:BN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.08. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. Analysts expect that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, June 13th. Brookfield's dividend payout ratio (DPR) is currently 128.57%.

About Brookfield

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.

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