Brookfield wants to buy mall-owner GGP for $14.8 billion
Nov 13 2017 by Johnny Bowman
Brookfield Property Partners said the offer is a premium of 21 per cent to where GGP shares were trading before reports of a possible offer last week. For the next year, analysts anticipate that the business will report earnings of $0.12 per share.
Brookfield's shares were down 5 percent at $22.44 in morning trade.
BEP has been the topic of a number of recent research reports. TD Securities raised their price target on shares of Brookfield Infrastructure Partners to $57.00 and gave the company a buy rating in a research note on Monday, September 18th.
TRADEMARK VIOLATION NOTICE: "Brookfield Property Partners L.P.'s (NYSE:BPY) "Buy" Rating Reiterated at Canaccord Genuity" was first published by StockNewsTimes and is the property of of StockNewsTimes. Royal Bank Of Canada upped their target price on Brookfield Renewable Partners L.P. from $32.00 to $35.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 8th. National Bank Financial raised the price target of the stock on November 6 changing the price objective from $46.00 to $48.00 and issued a "Outperform" rating.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. They issued a neutral rating and a $44.00 price target on the stock. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States & global copyright and trademark laws. The legal version of this piece of content can be viewed at https://weekherald.com/2017/11/13/the-manufacturers-life-insurance-company-purchases-shares-of-96050-brookfield-renewable-partners-l-p-bep.html. The Firm operates as a holding company, which is engaged in the operation, development and management of retail and other rental properties, primarily regional malls.
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Brookfield Property Partners LP is offering $18.8-billion in stock and cash to buy out the shares of USA shopping mall owner GGP Inc. that it does not already own, doubling down on the future of brick-and-mortar retail as many merchants come under pressure from e-commerce.
Karpas Strategies Llc increased its stake in Brookfield Property Ptnrs Lp (BPY) by 9.53% based on its latest 2017Q2 regulatory filing with the SEC.
New England Private Wealth Advisors LLC bolstered its stake by buying 2,000 shares an increase of 10.3% as of 09/30/2017. CI Investments Inc. now owns 4,824,011 shares of the company's stock valued at $112,641,000 after acquiring an additional 24,000 shares in the last quarter. Its position was valued at $44,179,000 an increase of 11.0% as of the end of the quarter. Winslow Evans & Crocker Inc. grew its position in shares of Brookfield Infrastructure Partners by 14.9% during the 2nd quarter. Shamrock Asset Management LLC expanded its ownership by buying 1,112 shares an increase of 4.1%. Energy Opportunities Capital Management Llc sold 420,491 shares as Helix Energy Solu Grp Com (HLX)'s stock declined 19.97%. (NYSE BEP) opened at $34.05 on Monday. Beck Capital Management Limited Company has invested 0.75% in Apple Inc. Brookfield Renewable Partners L.P.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 4.00%. Brookfield Renewable Partners L.P.'s payout ratio is -1,558.20%.
The transaction would create one of the largest listed property companies in the world, with an ownership interest in nearly $100 billion of premier real estate assets globally and annual net operating income of approximately $5 billion. The Firm operates as a pure-play renewable power platform.