Douglas Lane & Associates LLC Increases Stake in Brookfield Co. (NYSE:BN)

Douglas Lane & Associates LLC increased its position in shares of Brookfield Co. (NYSE:BN) by 28.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,305 shares of the company’s stock after buying an additional 2,529 shares during the period. Douglas Lane & Associates LLC’s holdings in Brookfield were worth $649,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Canandaigua National Trust Co of Florida purchased a new stake in shares of Brookfield in the 4th quarter valued at approximately $368,000. GAMMA Investing LLC grew its stake in shares of Brookfield by 85.5% during the fourth quarter. GAMMA Investing LLC now owns 1,957 shares of the company’s stock worth $112,000 after purchasing an additional 902 shares in the last quarter. Blankinship & Foster LLC acquired a new position in shares of Brookfield during the third quarter worth $32,389,000. Wilmington Savings Fund Society FSB purchased a new position in Brookfield in the third quarter valued at $784,000. Finally, Virtu Financial LLC acquired a new stake in Brookfield in the third quarter valued at $211,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price objective (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Scotiabank upped their price target on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $55.31.

Brookfield Stock Performance

Shares of BN opened at $58.42 on Thursday. The company’s 50 day simple moving average is $57.95 and its 200-day simple moving average is $51.83. The firm has a market cap of $88.12 billion, a PE ratio of 124.30 and a beta of 1.56. Brookfield Co. has a 12-month low of $37.79 and a 12-month high of $62.44. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.08 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.55%. Brookfield’s dividend 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.