Short Interest in Brookfield Co. (NYSE:BN) Rises By 5.9%

Brookfield Co. (NYSE:BN) was the recipient of a large increase in short interest in 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. Based on an average daily volume of 1,850,000 shares, the short-interest ratio is presently 5.8 days. Approximately 0.9% of the shares of the stock are short sold.

Hedge Funds Weigh In On Brookfield

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Nicholas Hoffman & Company LLC. boosted its stake in Brookfield by 3.9% during the second quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock worth $282,000 after acquiring an additional 257 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after buying an additional 272 shares in the last quarter. First Trust Direct Indexing L.P. lifted its stake in shares of Brookfield by 2.9% in the third quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock worth $551,000 after buying an additional 292 shares in the last quarter. Rosenberg Matthew Hamilton lifted its stake in shares of Brookfield by 20.6% in the second quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock worth $71,000 after buying an additional 296 shares in the last quarter. Finally, Caprock Group LLC lifted its stake in shares of Brookfield by 2.5% in the third quarter. Caprock Group LLC now owns 12,332 shares of the company’s stock worth $655,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BN. Scotiabank lifted their price objective on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a report 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 for the company in a report on Friday, August 9th. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. TD Securities lifted their target price on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, 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 report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.31.

Brookfield Trading Down 0.3 %

Shares of BN stock traded down $0.19 during mid-day trading on Tuesday, reaching $61.32. The stock had a trading volume of 900,877 shares, compared to its average volume of 2,749,644. The stock’s 50-day moving average price is $55.52 and its two-hundred day moving average price is $48.94. Brookfield has a 52-week low of $35.44 and a 52-week high of $62.44. The firm has a market capitalization of $100.98 billion, a PE ratio of 129.45 and a beta of 1.55. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Monday, December 16th. Brookfield’s dividend payout ratio is currently 68.09%.

Brookfield Company Profile

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.