Brookfield Co. (NYSE:BN) Sees Large Increase in Short Interest

Brookfield Co. (NYSE:BN) was the recipient of a large increase in short interest in November. As of November 30th, there was short interest totalling 11,420,000 shares, an increase of 6.4% from the November 15th total of 10,730,000 shares. Based on an average daily trading volume, of 1,790,000 shares, the days-to-cover ratio is presently 6.4 days. Approximately 0.9% of the company’s shares are short sold.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised its position in Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after purchasing an additional 272 shares in the last quarter. Kings Path Partners LLC acquired a new stake in Brookfield in the second quarter valued at about $31,000. First Personal Financial Services bought a new position in Brookfield in the third quarter valued at about $42,000. FSA Wealth Management LLC bought a new position in shares of Brookfield in the third quarter worth about $42,000. Finally, Prestige Wealth Management Group LLC grew its holdings in shares of Brookfield by 137.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock valued at $46,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BN. Scotiabank increased their price target on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research note on Friday, November 15th. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.31.

Brookfield Stock Performance

BN stock traded down $0.14 during trading hours on Tuesday, hitting $59.01. 2,525,895 shares of the stock were exchanged, compared to its average volume of 2,722,797. Brookfield has a 12 month low of $37.77 and a 12 month high of $62.44. 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 firm has a market capitalization of $97.17 billion, a P/E ratio of 125.55 and a beta of 1.55. The company has a 50-day simple moving average of $57.00 and a two-hundred day simple moving average of $50.15.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.54%. Brookfield’s dividend payout ratio (DPR) is presently 68.09%.

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.