Brookfield Co. (NYSE:BN) Short Interest Up 6.4% in November

Brookfield Co. (NYSE:BN) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 11,420,000 shares, a growth 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 currently 6.4 days. Currently, 0.9% of the company’s shares are sold short.

Hedge Funds Weigh In On Brookfield

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after purchasing an additional 272 shares during the last quarter. Kings Path Partners LLC bought a new stake in shares of Brookfield during the second quarter valued at approximately $31,000. Family Firm Inc. acquired a new stake in Brookfield during the second quarter worth $36,000. First Personal Financial Services bought a new position in shares of Brookfield during the 3rd quarter worth about $42,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Brookfield during the 3rd quarter valued at about $42,000. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Scotiabank upped their target price on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 15th. BMO Capital Markets restated an “outperform” rating and issued a $62.00 target price (up 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. According to MarketBeat.com, Brookfield presently has a consensus rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Price Performance

Shares of BN traded down $0.14 during midday trading on Tuesday, reaching $59.01. The stock had a trading volume of 2,525,895 shares, compared to its average volume of 2,722,797. Brookfield has a 52 week low of $37.77 and a 52 week high of $62.44. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. The company has a market capitalization of $97.17 billion, a P/E ratio of 125.55 and a beta of 1.55. The firm’s 50 day moving average price is $57.00 and its 200-day moving average price is $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 issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 0.54%. Brookfield’s payout ratio is presently 68.09%.

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.