Short Interest in Brookfield Co. (NYSE:BN) Declines By 36.1%

Brookfield Co. (NYSE:BN) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 8,600,000 shares, a decrease of 36.1% from the December 15th total of 13,460,000 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily volume of 1,850,000 shares, the days-to-cover ratio is presently 4.6 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BN shares. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 target price (up previously from $50.00) on shares of Brookfield in a report on Friday, November 15th. Scotiabank lifted their price target on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.31.

Institutional Trading of Brookfield

A number of institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC increased its position in Brookfield by 19.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 68,583 shares of the company’s stock valued at $3,940,000 after acquiring an additional 11,136 shares during the last quarter. Albion Financial Group UT purchased a new position in shares of Brookfield during the 4th quarter worth about $57,000. Simon Quick Advisors LLC bought a new position in Brookfield during the 4th quarter valued at about $449,000. Atomi Financial Group Inc. raised its position in Brookfield by 15.5% in the 4th quarter. Atomi Financial Group Inc. now owns 13,999 shares of the company’s stock worth $804,000 after purchasing an additional 1,875 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its stake in Brookfield by 1.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 54,771 shares of the company’s stock worth $3,147,000 after purchasing an additional 712 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Price Performance

Brookfield stock traded up $0.58 during mid-day trading on Friday, reaching $58.16. 1,406,514 shares of the company’s stock traded hands, compared to its average volume of 2,666,492. Brookfield has a 12-month low of $38.18 and a 12-month high of $62.44. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40. The stock has a 50 day moving average of $58.11 and a two-hundred day moving average of $52.38. The company has a market cap of $87.73 billion, a price-to-earnings ratio of 123.75 and a beta of 1.56.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Monday, December 16th. Brookfield’s dividend payout ratio (DPR) is 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.