Cornerstone Advisory LLC Purchases Shares of 14,830 Brookfield Co. (NYSE:BN)

Cornerstone Advisory LLC acquired a new position in shares of Brookfield Co. (NYSE:BN - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 14,830 shares of the company's stock, valued at approximately $903,000.

Other institutional investors have also modified their holdings of the company. Forsta AP Fonden lifted its position in shares of Brookfield by 4.9% during the 4th quarter. Forsta AP Fonden now owns 287,200 shares of the company's stock worth $16,499,000 after purchasing an additional 13,300 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Brookfield by 19.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 68,583 shares of the company's stock worth $3,940,000 after purchasing an additional 11,136 shares during the last quarter. Guerra Pan Advisors LLC purchased a new stake in shares of Brookfield during the 4th quarter worth $321,000. Barclays PLC lifted its position in shares of Brookfield by 521.1% during the 3rd quarter. Barclays PLC now owns 71,402 shares of the company's stock worth $3,794,000 after purchasing an additional 59,906 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Brookfield by 1.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 78,682 shares of the company's stock worth $4,520,000 after purchasing an additional 974 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Down 3.4%

Shares of NYSE:BN opened at $56.96 on Thursday. The company has a market cap of $93.84 billion, a price-to-earnings ratio of 189.88 and a beta of 1.64. The firm's 50-day simple moving average is $52.98 and its 200-day simple moving average is $56.15. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. Brookfield Co. has a fifty-two week low of $39.97 and a fifty-two week high of $62.78.

Brookfield (NYSE:BN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. As a group, equities research analysts predict that Brookfield Co. will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Friday, June 13th. Brookfield's dividend payout ratio is presently 128.57%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BN shares. CIBC decreased their price objective on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a research report on Friday, May 9th. Morgan Stanley dropped their price objective on shares of Brookfield from $83.00 to $61.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Scotiabank dropped their price objective on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 7th. TD Securities dropped their price objective on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Brookfield has a consensus rating of "Moderate Buy" and an average price target of $63.00.

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.

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