Cambria Investment Management L.P. Buys New Shares in Brookfield Corporation $BN

Cambria Investment Management L.P. bought a new position in shares of Brookfield Corporation (NYSE:BN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,521 shares of the company’s stock, valued at approximately $996,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Brookfield during the 2nd quarter valued at $32,000. First Horizon Corp bought a new stake in shares of Brookfield during the 3rd quarter worth $40,000. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Brookfield by 109.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock worth $39,000 after acquiring an additional 330 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Brookfield by 507.5% in the 3rd quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock worth $45,000 after acquiring an additional 543 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Brookfield by 210.6% during the third quarter. Assetmark Inc. now owns 963 shares of the company’s stock worth $66,000 after purchasing an additional 653 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of Brookfield stock opened at $39.12 on Friday. Brookfield Corporation has a 12 month low of $29.07 and a 12 month high of $49.56. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.48. The stock has a market cap of $95.83 billion, a PE ratio of 79.29 and a beta of 1.58. The business has a fifty day simple moving average of $44.90 and a 200-day simple moving average of $45.45.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. Brookfield had a return on equity of 3.87% and a net margin of 1.74%. On average, sell-side analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a $0.07 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s dividend payout ratio is currently 57.14%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BN shares. Morgan Stanley reaffirmed an “overweight” rating and set a $60.00 target price on shares of Brookfield in a report on Tuesday, February 17th. Scotiabank restated an “outperform” rating and set a $52.00 price objective (up from $49.00) on shares of Brookfield in a report on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research note on Monday, December 29th. Royal Bank Of Canada raised their target price on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Finally, Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Brookfield has an average rating of “Moderate Buy” and an average target price of $54.59.

About Brookfield

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.