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Brookfield Property Partners Proposes To Buy GGP For $23.00/shr

14 November 2017, 01:09 | Austin Hogan

Brookfield Property Partners Proposes To Buy GGP For $23.00/shr

A passer-by walks past the exterior of Brookfield Place an upscale mall in Lower Manhattan at the World Financial Center in New York in this Nov. 2015

On October 20 GMP Securities held the stock rating at "Hold" with a current price target of $34.50. State of New Jersey Common Pension Fund D now owns 275,000 shares of the financial services provider's stock valued at $6,422,000 after buying an additional 10,000 shares in the last quarter. Brookfield Infrastructure Partners has a one year low of $30.76 and a one year high of $44.91. Brookfield Renewable Partners LP lowered the price target on August 17 changing the forecast from $0.00 to $42.00 with a rating of "Market Perform". Public Sector Pension Investment Board owns 1,239,819 shares worth $29,289,000.

Brookfield Infrastructure Partners announced that its Board of Directors has approved a stock repurchase plan on Tuesday, November 7th that allows the company to buyback 13,820,000 shares. New England Private Wealth Advisors LLC claims 21,500 shares worth $927,000. Principal Financial Group Inc. now owns 8,751,437 shares of the utilities provider's stock worth $377,532,000 after acquiring an additional 437,693 shares during the period.

A number of other institutional investors have also recently bought and sold shares of BIP. The stock has a market cap of $12,018.33, a PE ratio of 161.00, a price-to-earnings-growth ratio of 1.26 and a beta of 1.06.

October 2 investment analysts at Canaccord Genuity made no change to the stock rating of "Buy" targeting a price of $28.00. Finally, Loeb Partners Corp acquired a new position in shares of Brookfield Property Partners L.P.in the 3rd quarter valued at $282,000.

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The company is so far trading down since yesterday's close of 23.68. This buyback authorization permits the utilities provider to reacquire shares of its stock through open market purchases. Stockholders of record on Thursday, November 30th will be paid a $0.435 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.74 annualized dividend and a dividend yield of 4.01%. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued. Karpas Strategies LLC now owns 289,995 shares of the financial services provider's stock worth $6,864,000 after buying an additional 25,225 shares during the last quarter.

Brookfield Property now holds approximately $68 billion in total assets.

Brookfield Renewable Partners Limited operates as the general partner of Brookfield Renewable Partners L.P. The company was formerly known as Brookfield Renewable Energy Partners L.P. and changed its name to Brookfield Renewable Partners L.P.in May 2016. The Company owns, operates and develops a portfolio of office, retail, multifamily, industrial, hospitality, triple net lease, self-storage and student housing assets.

Brookfield Property Partners LP offered $18.8 billion in stock and cash to fully acquire US shopping mall owner GGP Inc.in a deal announced Monday, doubling down on the future of bricks-and-mortar retail even as many merchants face increasing pressure from e-commerce.



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