Brookfield Co. (NYSE:BN) Sees Significant Growth in Short Interest

Brookfield Co. (NYSE:BN) was the target of a large increase in short interest during the month of 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. Approximately 0.9% of the company’s shares are sold short. Based on an average daily trading volume, of 1,790,000 shares, the short-interest ratio is currently 6.4 days.

Hedge Funds Weigh In On Brookfield

Several large investors have recently added to or reduced their stakes in BN. Blankinship & Foster LLC acquired a new stake in Brookfield in the 3rd quarter valued at approximately $32,389,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Brookfield in the third quarter worth $784,000. Virtu Financial LLC acquired a new position in shares of Brookfield in the 3rd quarter valued at about $211,000. Rehmann Capital Advisory Group acquired a new stake in shares of Brookfield during the 3rd quarter valued at $241,000. Finally, Toronto Dominion Bank increased its position in Brookfield by 23.4% in the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after purchasing an additional 1,301,072 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Down 0.2 %

Shares of BN stock traded down $0.14 during trading hours on Tuesday, hitting $59.01. 2,525,895 shares of the company were exchanged, compared to its average volume of 2,722,797. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. The stock has a market capitalization of $97.17 billion, a price-to-earnings ratio of 125.55 and a beta of 1.55. Brookfield has a one year low of $37.77 and a one year high of $62.44. The business’s 50-day simple moving average is $57.00 and its two-hundred day simple moving average is $50.15.

Brookfield Announces Dividend

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

Wall Street Analyst Weigh In

BN has been the topic of a number of research reports. Scotiabank raised their price objective on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a report on Friday, November 15th. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 price target (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and an average target price of $55.31.

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.