TIAA Trust National Association Decreases Stock Holdings in Brookfield Corporation $BN

TIAA Trust National Association reduced its stake in shares of Brookfield Corporation (NYSE:BN) by 12.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,191 shares of the company’s stock after selling 2,830 shares during the period. TIAA Trust National Association’s holdings in Brookfield were worth $1,249,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hilltop National Bank acquired a new position in Brookfield during the second quarter worth $30,000. Ameritas Advisory Services LLC purchased a new position in Brookfield during the second quarter worth about $33,000. Brooklyn Investment Group purchased a new stake in Brookfield in the first quarter valued at approximately $54,000. SouthState Corp lifted its stake in Brookfield by 734.8% during the first quarter. SouthState Corp now owns 1,127 shares of the company’s stock worth $59,000 after purchasing an additional 992 shares in the last quarter. Finally, Salomon & Ludwin LLC purchased a new position in shares of Brookfield during the second quarter worth $62,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. BMO Capital Markets raised their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Scotiabank upped their price objective on Brookfield from $46.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Zacks Research upgraded Brookfield from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. National Bank Financial assumed coverage on Brookfield in a research report on Tuesday, July 29th. They issued an “outperform” rating and a $54.67 price target on the stock. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Brookfield in a report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $52.63.

Brookfield Trading Down 0.4%

Shares of BN stock opened at $45.71 on Friday. The firm has a market capitalization of $113.13 billion, a PE ratio of 159.46 and a beta of 1.73. Brookfield Corporation has a 1-year low of $29.07 and a 1-year high of $49.47. The business’s fifty day moving average price is $45.50 and its 200 day moving average price is $42.35. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.29 and a quick ratio of 1.18.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.59 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.59. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Brookfield had a net margin of 1.11% and a return on equity of 3.77%. As a group, sell-side analysts forecast that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

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.