Whitebox Advisors LLC Buys Shares of 96,265 Brookfield Corporation $BN

Key Points

• Whitebox Advisors initiated a Brookfield Corporation position by purchasing 96,265 shares valued at approximately $3.9 million. Other institutional investors also increased their holdings, with institutions and hedge funds owning 61.6% of the stock.
• Brookfield shares opened at $41.69, within a 52-week range of $37.93 to $49.56. The company recently paid a quarterly dividend of $0.07 per share, representing a 0.7% annualized yield.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $56.64, above the current share price.

Whitebox Advisors LLC purchased a new position in shares of Brookfield Corporation (NYSE:BN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 96,265 shares of the company's stock, valued at approximately $3,896,000.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC grew its stake in Brookfield by 147.5% in the 1st quarter. AQR Capital Management LLC now owns 18,571 shares of the company's stock worth $963,000 after acquiring an additional 11,069 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Brookfield by 13.5% during the 1st quarter. NewEdge Advisors LLC now owns 2,488 shares of the company's stock worth $130,000 after purchasing an additional 295 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of Brookfield by 32.3% during the second quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company's stock worth $353,000 after purchasing an additional 1,396 shares during the last quarter. AXA S.A. boosted its holdings in shares of Brookfield by 42.2% during the second quarter. AXA S.A. now owns 103,531 shares of the company's stock worth $6,403,000 after purchasing an additional 30,703 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of Brookfield by 29.6% in the second quarter. Squarepoint Ops LLC now owns 25,502 shares of the company's stock valued at $1,577,000 after purchasing an additional 5,821 shares during the period. Institutional investors and hedge funds own 61.60% of the company's stock.

Brookfield Trading Up 0.0%

Shares of BN opened at $41.69 on Monday. Brookfield Corporation has a twelve month low of $37.93 and a twelve month high of $49.56. The firm has a market capitalization of $102.18 billion, a P/E ratio of 81.74 and a beta of 1.54. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54. The stock's fifty day simple moving average is $44.12 and its 200 day simple moving average is $44.31.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, June 15th. Brookfield's dividend payout ratio (DPR) is 54.90%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BN shares. Scotiabank reiterated an "outperform" rating and issued a $53.00 target price (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. Scotia raised their price target on Brookfield from $48.50 to $53.00 and gave the stock a "sector outperform" rating in a research note on Friday, May 15th. Royal Bank Of Canada dropped their price objective on shares of Brookfield from $63.00 to $61.00 and set an "outperform" rating for the company in a research note on Friday, May 15th. TD Securities reiterated a "buy" rating and set a $60.00 price objective on shares of Brookfield in a report on Tuesday, May 19th. Finally, National Bank Financial raised their target price on shares of Brookfield from $58.00 to $60.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $56.64.

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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