First Foundation Advisors Sells 22,710 Shares of Brookfield Corporation (NYSE:BN)

Key Points

• First Foundation Advisors reduced its stake in Brookfield Corporation by 13.2%, selling 22,710 shares to hold 148,906 shares worth approximately $7.8 million.
• Significant institutional investors like Geode Capital Management and Bessemer Group increased their holdings in Brookfield, suggesting a notable interest among large funds.
• Brookfield recently declared a quarterly dividend of $0.09 per share, representing an annualized yield of 0.53%, although its current payout ratio stands at an unusually high 128.57%.

First Foundation Advisors reduced its position in Brookfield Corporation (NYSE:BN - Free Report) by 13.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 148,906 shares of the company's stock after selling 22,710 shares during the period. First Foundation Advisors' holdings in Brookfield were worth $7,804,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. boosted its position in shares of Brookfield by 3.6% in the 4th quarter. American Century Companies Inc. now owns 64,088 shares of the company's stock worth $3,684,000 after purchasing an additional 2,200 shares during the last quarter. LPL Financial LLC boosted its position in shares of Brookfield by 28.5% in the 4th quarter. LPL Financial LLC now owns 225,236 shares of the company's stock worth $12,940,000 after purchasing an additional 50,012 shares during the last quarter. Blair William & Co. IL grew its stake in Brookfield by 4.8% in the fourth quarter. Blair William & Co. IL now owns 114,740 shares of the company's stock valued at $6,592,000 after acquiring an additional 5,223 shares during the period. Pictet Asset Management Holding SA increased its holdings in shares of Brookfield by 29.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 726,288 shares of the company's stock worth $41,723,000 after acquiring an additional 163,789 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its position in shares of Brookfield by 1.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 16,616 shares of the company's stock worth $955,000 after purchasing an additional 197 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Price Performance

Shares of BN stock traded down $1.73 during trading hours on Friday, reaching $65.32. The company's stock had a trading volume of 2,655,829 shares, compared to its average volume of 2,648,501. The company has a quick ratio of 1.18, a current ratio of 1.30 and a debt-to-equity ratio of 1.49. Brookfield Corporation has a fifty-two week low of $42.21 and a fifty-two week high of $68.75. The company has a market capitalization of $107.70 billion, a price-to-earnings ratio of 233.29 and a beta of 1.66. The firm's 50 day simple moving average is $61.85 and its 200-day simple moving average is $57.46.

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

Brookfield Announces Dividend

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

Analysts Set New Price Targets

A number of research firms recently issued reports on BN. JPMorgan Chase & Co. lowered their target price on Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. National Bankshares set a $82.00 price target on Brookfield and gave the company an "outperform" rating in a report on Tuesday. Morgan Stanley restated an "overweight" rating on shares of Brookfield in a report on Monday, May 19th. Royal Bank Of Canada began coverage on shares of Brookfield in a report on Wednesday, June 18th. They issued an "outperform" rating and a $81.00 price objective on the stock. Finally, CIBC cut their price objective on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating on the stock in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $70.00.

Brookfield Company 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.