Sanibel Captiva Trust Company Inc. reduced its holdings in Brookfield Co. (NYSE:BN - Free Report) by 1.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 822,992 shares of the company's stock after selling 8,297 shares during the period. Brookfield makes up 1.4% of Sanibel Captiva Trust Company Inc.'s portfolio, making the stock its 17th largest holding. Sanibel Captiva Trust Company Inc.'s holdings in Brookfield were worth $43,133,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. ST Germain D J Co. Inc. acquired a new position in shares of Brookfield during the 1st quarter worth approximately $28,000. CoreCap Advisors LLC purchased a new stake in Brookfield in the 4th quarter valued at $29,000. Compass Planning Associates Inc acquired a new position in Brookfield during the fourth quarter worth about $30,000. Sunbelt Securities Inc. increased its holdings in Brookfield by 164.0% in the fourth quarter. Sunbelt Securities Inc. now owns 726 shares of the company's stock valued at $42,000 after buying an additional 451 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Brookfield by 2,029.3% during the 1st quarter. Versant Capital Management Inc now owns 873 shares of the company's stock valued at $46,000 after acquiring an additional 832 shares during the period. 61.60% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts recently weighed in on BN shares. TD Securities cut their target price on Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Wall Street Zen upgraded shares of Brookfield from a "sell" rating to a "hold" rating in a research note on Sunday. Morgan Stanley reissued an "overweight" rating on shares of Brookfield in a report on Monday, May 19th. 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. Finally, JPMorgan Chase & Co. dropped their target price on Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Brookfield currently has a consensus rating of "Moderate Buy" and an average price target of $63.00.
View Our Latest Analysis on Brookfield
Brookfield Trading Up 0.7%
NYSE:BN traded up $0.39 during trading hours on Wednesday, hitting $59.47. The stock had a trading volume of 414,511 shares, compared to its average volume of 2,681,865. Brookfield Co. has a one year low of $39.97 and a one year high of $62.78. The company has a market cap of $97.98 billion, a price-to-earnings ratio of 198.31 and a beta of 1.66. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. The business's 50 day moving average is $54.26 and its 200-day moving average is $56.24.
Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. Sell-side analysts anticipate that Brookfield Co. will post 3.85 EPS for the current fiscal year.
Brookfield Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Friday, June 13th. Brookfield's payout ratio is currently 128.57%.
About Brookfield
(
Free Report)
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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