Concurrent Investment Advisors LLC Has $2.03 Million Stake in Brookfield Corporation $BN

Key Points

• Concurrent Investment Advisors increased its Brookfield stake by 520.1% in the second quarter, purchasing 39,994 additional shares for a total holding of 47,684 shares valued at approximately $2.03 million.
• Brookfield reported quarterly EPS of $0.66, exceeding analysts’ $0.62 estimate, while revenue came in at $1.66 billion. The company also declared a quarterly dividend of $0.07 per share, representing a 0.7% annualized yield.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $57.40, compared with the shares’ reported opening price of $39.29.

Concurrent Investment Advisors LLC boosted its holdings in Brookfield Corporation (NYSE:BN - Free Report) by 520.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,684 shares of the company's stock after purchasing an additional 39,994 shares during the period. Concurrent Investment Advisors LLC's holdings in Brookfield were worth $2,031,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. MCF Advisors LLC acquired a new position in shares of Brookfield during the 4th quarter worth about $26,000. Quattro Advisors LLC acquired a new stake in shares of Brookfield in the fourth quarter valued at about $26,000. Truvestments Capital LLC raised its holdings in Brookfield by 49.9% during the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company's stock worth $29,000 after acquiring an additional 213 shares in the last quarter. Entrust Financial LLC bought a new stake in Brookfield during the fourth quarter worth about $35,000. Finally, Delta Asset Management LLC TN boosted its position in Brookfield by 49.8% during the fourth quarter. Delta Asset Management LLC TN now owns 935 shares of the company's stock valued at $43,000 after purchasing an additional 311 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Price Performance

Shares of NYSE BN opened at $39.29 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 1.54. The business's 50 day moving average price is $42.60 and its two-hundred day moving average price is $43.28. The company has a market cap of $96.32 billion, a PE ratio of 71.43 and a beta of 1.53. Brookfield Corporation has a twelve month low of $37.93 and a twelve month high of $49.56.

Brookfield (NYSE:BN - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%.The company had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.66 billion. On average, analysts predict that Brookfield Corporation will post 2.93 EPS for the current year.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, September 14th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, September 14th. Brookfield's dividend payout ratio is 50.91%.

Analyst Upgrades and Downgrades

BN has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on Brookfield from $60.00 to $62.00 and gave the company an "overweight" rating in a research note on Tuesday, May 12th. Scotiabank reiterated an "outperform" rating and set a $54.00 price objective (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. Morgan Stanley set a $59.00 price objective on Brookfield and gave the company an "overweight" rating in a report on Tuesday, July 21st. Weiss Ratings reissued a "hold (c)" rating on shares of Brookfield in a research note on Wednesday, June 24th. Finally, TD boosted their target price on shares of Brookfield from $60.00 to $61.00 and gave the stock a "buy" rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $57.40.

About Brookfield

Brookfield Corporation NYSE: BN is a global investment and asset management company that owns and operates businesses across real estate, renewable power and transition, infrastructure, and private equity. Through its operating platforms and investments, the company is involved in assets such as office, retail, multifamily and logistics properties; hydroelectric, wind and solar facilities; transportation, data and utility infrastructure; and companies in industries including industrials, technology and business services.

Brookfield also maintains a significant interest in Brookfield Asset Management, an alternative asset manager that manages capital for institutional and individual investors.

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