Brookfield Co. (NYSE:BN) Sees Significant Growth in Short Interest

Brookfield Co. (NYSE:BN) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 10,730,000 shares, an increase of 5.9% from the October 31st total of 10,130,000 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average trading volume of 1,850,000 shares, the days-to-cover ratio is currently 5.8 days.

Analyst Upgrades and Downgrades

BN has been the topic of a number of research reports. TD Securities lifted their price target on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Scotiabank boosted their target price on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research note on Friday, November 15th. Royal Bank of Canada dropped their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Keefe, Bruyette & Woods lifted their target price on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. Finally, BMO Capital Markets restated an “outperform” rating and set a $62.00 price target (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.31.

Brookfield Price Performance

Shares of NYSE:BN opened at $60.71 on Thursday. The company has a 50 day moving average of $55.68 and a 200 day moving average of $49.06. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40. The stock has a market cap of $99.97 billion, a P/E ratio of 129.17 and a beta of 1.55. Brookfield has a 12 month low of $35.44 and a 12 month high of $62.44.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.53%. Brookfield’s dividend payout ratio (DPR) is currently 68.09%.

Institutional Investors Weigh In On Brookfield

Institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Brookfield by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 109,552 shares of the company’s stock valued at $4,587,000 after acquiring an additional 4,428 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Brookfield by 1.9% in the 1st quarter. Jane Street Group LLC now owns 222,916 shares of the company’s stock worth $9,333,000 after buying an additional 4,103 shares during the last quarter. Walleye Trading LLC bought a new stake in shares of Brookfield during the 1st quarter worth $367,000. Cetera Investment Advisers grew its position in Brookfield by 1,022.6% in the first quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock worth $11,427,000 after acquiring an additional 248,506 shares in the last quarter. Finally, Cetera Advisors LLC increased its stake in Brookfield by 183.9% in the first quarter. Cetera Advisors LLC now owns 17,937 shares of the company’s stock valued at $751,000 after acquiring an additional 11,620 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

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.