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emfizz.com November 24, 2017


Brookfield Property Partners L (NYSE:BPY) Trading Down - Short Interest Up 13.48%

14 November 2017, 01:13 | Jan Cross

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Each GGP shareholder can elect to receive consideration per GGP common share of either $23.00 in cash or 0.9656 of a limited partnership unit of BPY, subject in each case to pro-ration based on a maximum cash consideration of about $7.4 billion (50% of the aggregate offer) and a maximum of approximately 309 million BPY units valued at approximately $7.4 billion (50% of the aggregate offer).

October 2 investment analysts at Canaccord Genuity made no change to the company rating of "Buy" projecting a price of $28.00. Brookfield Infrastructure Partners has a one year low of $30.76 and a one year high of $44.91. Public Sector Pension Investment Board now owns 1,239,819 shares with a value of $29,289,000. The company saw a rise in short interest of 13.48% as of October 31, 2017 from the last reporting period. Private Advisor Group LLC grew its stake in shares of Brookfield Infrastructure Partners by 38.6% during the second quarter. The fund owned 9,270 shares of the utilities provider's stock after buying an additional 2,435 shares during the quarter. Renaissance Technologies LLC increased its stake in shares of Brookfield Property Partners L.P.by 52.4% in the 1st quarter. The company's P/E ratio is 164.39 and market cap is 15.94B. TD Securities increased their price target on shares of Brookfield Infrastructure Partners to $57.00 and gave the stock a "buy" rating in a report on Monday, September 18th. Finally, Loeb Partners Corp acquired a new position in shares of Brookfield Property Partners L.P.in the 3rd quarter valued at $282,000.

TRADEMARK VIOLATION NOTICE: This news story was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal.

After Brookfield confirmed the bid on Monday, GGP stock climbed above the offer price and ended the day at $24.05 a share in NY, suggesting that shareholders expected a higher offer to emerge.

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GGP shares rose 4% premarket to $23.50, topping the offer price. This buyback authorization permits the utilities provider to reacquire shares of its stock through open market purchases. If you are viewing this piece on another site, it was copied illegally and reposted in violation of U.S. & worldwide trademark and copyright legislation. Stockholders of record on Thursday, November 30th will be paid a $0.435 dividend. This represents a $1.74 annualized dividend and a yield of 4.00%. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.

The transaction will create, in BPY, 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 ex-dividend date of this dividend is Wednesday, November 29th. Brookfield Property Partners L.P.'s dividend payout ratio (DPR) is now 513.04%.

Brookfield Property, which is part of Brookfield Asset Management, owns or operates office properties, retail centers and multifamily housing units.

The Wall Street Journal had reported that Brookfield Property Partners LP has made a $14.8 billion offer to acquire the shares of mall owner GGP Inc. that it doesn't already own.



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