Davis Rea LTD. Increases Position in Brookfield Corporation (NYSE:BN)

Davis Rea LTD. lifted its position in shares of Brookfield Corporation (NYSE:BN - Free Report) by 1,379.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,139 shares of the company's stock after purchasing an additional 107,354 shares during the period. Brookfield comprises approximately 1.6% of Davis Rea LTD.'s portfolio, making the stock its 19th largest position. Davis Rea LTD.'s holdings in Brookfield were worth $6,026,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Brookfield during the 1st quarter worth $26,000. North Capital Inc. acquired a new stake in Brookfield during the 1st quarter worth $27,000. ST Germain D J Co. Inc. acquired a new stake in Brookfield during the 1st quarter worth $28,000. CoreCap Advisors LLC acquired a new stake in Brookfield during the 4th quarter worth $29,000. Finally, Golden State Wealth Management LLC raised its stake in Brookfield by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 592 shares of the company's stock worth $31,000 after acquiring an additional 296 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Price Performance

BN stock traded up $0.14 during trading on Friday, reaching $67.59. 1,569,512 shares of the company were exchanged, compared to its average volume of 2,290,698. Brookfield Corporation has a 52-week low of $42.21 and a 52-week high of $68.75. The company has a market cap of $111.43 billion, a P/E ratio of 241.38 and a beta of 1.66. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.18 and a current ratio of 1.30. The stock's 50 day moving average price is $61.11 and its 200 day moving average price is $57.17.

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

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Friday, June 13th. Brookfield's payout ratio is 128.57%.

Wall Street Analysts Forecast Growth

BN has been the topic of several research analyst reports. Morgan Stanley reiterated an "overweight" rating on shares of Brookfield in a research note on Monday, May 19th. Royal Bank Of Canada began coverage on shares of Brookfield in a research note on Wednesday, June 18th. They set an "outperform" rating and a $81.00 price target on the stock. Scotiabank dropped their price target 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. JPMorgan Chase & Co. decreased their price objective on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Wall Street Zen downgraded shares of Brookfield from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $66.13.

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.