Davis Rea LTD. Grows Stake in Brookfield Corporation $BN

Key Points

• Davis Rea LTD. raised its stake in Brookfield by 43.6% in Q4 to 153,231 shares (worth $7.04M), and other institutions also added positions, leaving institutional ownership at about 61.6%.
• Analyst sentiment is broadly positive with a MarketBeat consensus of "Moderate Buy" and an average price target of $55.65; several brokers (RBC, National Bank, BMO) recently raised targets up to $63.
• Brookfield beat Q4 EPS estimates ($0.67 vs. $0.61) and increased its quarterly dividend to $0.07 (annualized $0.28, yield ~0.6%).

Davis Rea LTD. raised its stake in Brookfield Corporation (NYSE:BN - Free Report) by 43.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,231 shares of the company's stock after acquiring an additional 46,511 shares during the quarter. Brookfield makes up 1.8% of Davis Rea LTD.'s holdings, making the stock its 18th biggest position. Davis Rea LTD.'s holdings in Brookfield were worth $7,040,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Gold Investment Management Ltd. lifted its stake in shares of Brookfield by 50.6% during the 4th quarter. Gold Investment Management Ltd. now owns 150,401 shares of the company's stock valued at $6,906,000 after buying an additional 50,529 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Brookfield by 54.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 23,489 shares of the company's stock valued at $1,078,000 after buying an additional 8,328 shares in the last quarter. Quent Long Short Global Small Cap Fund LP purchased a new stake in shares of Brookfield during the 4th quarter valued at approximately $583,000. Cornerstone Advisory LLC lifted its stake in shares of Brookfield by 50.3% during the 4th quarter. Cornerstone Advisory LLC now owns 19,213 shares of the company's stock valued at $882,000 after buying an additional 6,433 shares in the last quarter. Finally, Laurus Global Equity Management Inc. lifted its stake in shares of Brookfield by 50.0% during the 4th quarter. Laurus Global Equity Management Inc. now owns 5,459 shares of the company's stock valued at $251,000 after buying an additional 1,819 shares in the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on BN. National Bank Financial upped their price target on shares of Brookfield from $56.00 to $59.00 and gave the company an "outperform" rating in a research note on Wednesday, February 4th. Zacks Research upgraded shares of Brookfield from a "strong sell" rating to a "hold" rating in a research note on Monday, January 19th. Weiss Ratings restated a "hold (c)" rating on shares of Brookfield in a research note on Friday, March 27th. Royal Bank Of Canada upped their price target on shares of Brookfield from $60.00 to $63.00 and gave the company an "outperform" rating in a research note on Monday. Finally, BMO Capital Markets upped their price target on shares of Brookfield from $49.00 to $51.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. One investment 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 company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $55.65.

Brookfield Stock Performance

NYSE BN opened at $45.40 on Friday. Brookfield Corporation has a 1 year low of $34.14 and a 1 year high of $49.56. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.21. The stock has a market capitalization of $111.27 billion, a PE ratio of 92.03 and a beta of 1.56. The company's 50 day simple moving average is $42.73 and its two-hundred day simple moving average is $44.87.

Brookfield (NYSE:BN - Get Free Report) last posted its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. The business had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.63 billion. Analysts predict that Brookfield Corporation will post 2.95 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were paid a $0.07 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $0.28 annualized dividend and a yield of 0.6%. This is a boost from Brookfield's previous quarterly dividend of $0.06. Brookfield's dividend payout ratio is currently 57.14%.

Brookfield Company Profile

Brookfield Corporation NYSE: BN is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield's services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.

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