Economy

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

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

Each GGP shareholder can elect to receive consideration per GGP common share of either $23.00 in cash or 0.9656 of a limited partnership unit of BPY, subject in each case to pro-ration based on a maximum cash consideration of about $7.4 billion (50% of the aggregate offer) and a maximum of approximately 309 million BPY units valued at approximately $7.4 billion (50% of the aggregate offer). On November 3 Canaccord Genuity maintained a company rating of "Buy" with a current price target of $28.00. Manufacturers Life Insurance Company, The owns 11,469,815 shares valued at $270,875,000. Brookfield Infrastructure Partners LP has a 12-month low of $30.76 and a 12-month high of $44.91. Advisors Capital Management LLC now owns 99,463 shares of the utilities provider's stock worth $4,069,000 after buying an additional 2,510 shares during the period. The company realized a rise in short interest between October 13, 2017 and October 31, 2017 of 13.48%. 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. Hedge funds and other institutional investors own 33.72% of the company's stock. As of the end of the quarter Wfg Advisors, Lp had acquired a total of 6 shares growing its holdings by 2.7%. Equity analyst National Bank Financial raised the price target on November 6 boosting the projection from $46.00 to $48.00 and issued a "Outperform" rating.

WARNING: This story was first posted by StockNewsTimes and is the property of of StockNewsTimes. Short interest increased 25,877 over that timeframe.

The company is now down by 0.44% percent from yesterday's close.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. This repurchase authorization allows the utilities provider to reacquire shares of its stock through open market purchases. The ex-dividend date of this dividend is Wednesday, November 29th. If you are accessing this report on another website, it was stolen and reposted in violation of United States & global copyright laws. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.

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According to Zacks, "BROOKFIELD INFRASTRUCTURE PARTNERS L.P. was established by Brookfield Asset Management as its primary vehicle to own and operate certain infrastructure assets on a global basis".

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific. It is a leading owner, operator and investor in commercial real estate, with a diversified portfolio of office and retail assets, as well as interests in multifamily, triple net lease, industrial, hospitality, self-storage, student housing and manufactured housing assets.

The Canadian property owner announced on Monday an unsolicited $14.8-billion (U.S.) cash-and-stock bid to buy the rest of US retail real estate company GGP Inc.it does not own - an acquisition that would give Brookfield "an ownership interest in nearly $100-billion of premier real estate assets globally", the company said.


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