Published: Tue, November 14, 2017
Markets | By Noel Gibbs

Brookfield Property Partners L (NYSE:BPY) Trading Down - Short Interest Up 13.48%

Brookfield Property Partners L (NYSE:BPY) Trading Down - Short Interest Up 13.48%

Investors are a little more bearish on shares of Brookfield Infrastructure Partners LP of late if you take a look at the motion in short interest.

After Brookfield confirmed the bid on Monday, GGP stock climbed above the offer price and ended the day at $24.05 a share in NY, suggesting that shareholders expected a higher offer to emerge.

ILLEGAL ACTIVITY NOTICE: "Brookfield Property Partners L.P. (BPY) Downgraded by Canaccord Genuity" was first posted by TrueBlueTribune and is the sole property of of TrueBlueTribune.

Several research analysts recently issued reports on BIP shares. Private Trust Co. NA bought a new position in Brookfield Infrastructure Partners during the 2nd quarter worth approximately $223,000. If you are viewing this piece on another site, it was copied illegally and reposted in violation of United States & global trademark and copyright legislation. Renaissance Technologies LLC now owns 445,398 shares of the financial services provider's stock valued at $9,924,000 after purchasing an additional 153,156 shares in the last quarter. The legal version of this piece can be read at https://weekherald.com/2017/11/13/lucas-capital-management-has-3-18-million-stake-in-brookfield-infrastructure-partners-lp-bip.html. The value of the investment in Brookfield Property Partners L went from $62,262,000 to $68,922,000 a change of 10.7% quarter over quarter. Brookfield Property's bid said it offered a 20% premium based on General Growth's stock price of $19 a share on November 6.

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Brookfield Property Partners is listed on the NY and Toronto stock exchanges. Zacks Investment Research lowered shares of Brookfield Infrastructure Partners from a "buy" rating to a "hold" rating in a report on Tuesday, August 8th. Finally, Principal Financial Group Inc. increased its holdings in Brookfield Infrastructure Partners by 5.3% during the 3rd quarter. November 3 investment analysts at Canaccord Genuity kept the stock rating at "Buy" projecting a price of $28.00. (NYSE:BPY) traded up $0.36 on Monday, reaching $23.68.

Brookfield Property Partners L.P., launched on January 3, 2013, is a diversified global real estate company. The company now has a P/E ratio of 98.60 and market capitalization is 5.79B.

The company is so far trading down since yesterday's close of 23.68. The company has a quick ratio of 0.07, a current ratio of 0.23 and a debt-to-equity ratio of 0.61. Brookfield Property Partners L.P. has a 1-year low of $20.31 and a 1-year high of $24.96.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued. This represents a $1.74 annualized dividend and a dividend yield of 4.01%.

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Scotiabank raised the price target of the stock on November 6 changing the price objective from $25.25 to $25.50 with a "Outperform" recommendation.

"Brookfield's access to large-scale capital and deep operating expertise across multiple real estate sectors combined with GGP's high-quality retail asset base will allow us to maximize the value of these irreplaceable assets", said Brian Kingston, Brookfield Property Partners CEO in a release announcing the bid.

Brookfield Property, which is part of Brookfield Asset Management, owns or operates office properties, retail centers and multifamily housing units.

Want to see what other hedge funds are holding BPY?

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