Miracle Mile Advisors LLC Has $494,000 Stake in Brookfield Co. (NYSE:BN)

Miracle Mile Advisors LLC lessened its stake in shares of Brookfield Co. (NYSE:BN) by 25.3% during the fourth quarter, Holdings Channel reports. The fund owned 8,607 shares of the company’s stock after selling 2,909 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Brookfield were worth $494,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BN. Wealth Enhancement Advisory Services LLC raised its position in Brookfield by 0.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 113,397 shares of the company’s stock valued at $6,027,000 after buying an additional 357 shares during the last quarter. Douglas Lane & Associates LLC boosted its stake in shares of Brookfield by 28.8% in the 4th quarter. Douglas Lane & Associates LLC now owns 11,305 shares of the company’s stock worth $649,000 after buying an additional 2,529 shares during the last quarter. Canandaigua National Trust Co of Florida bought a new position in shares of Brookfield in the fourth quarter valued at approximately $368,000. GAMMA Investing LLC lifted its holdings in 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 acquiring an additional 902 shares during the period. Finally, Blankinship & Foster LLC bought a new stake in Brookfield during the third quarter worth $32,389,000. 61.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BN. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 target price (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Scotiabank raised their price objective on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Trading Up 2.9 %

Shares of BN opened at $57.00 on Thursday. The firm has a market cap of $85.98 billion, a P/E ratio of 121.28 and a beta of 1.56. Brookfield Co. has a fifty-two week low of $37.79 and a fifty-two week high of $62.44. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. The business has a 50-day moving average of $58.11 and a 200 day moving average of $52.31.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Monday, December 16th. Brookfield’s dividend payout ratio (DPR) is currently 68.09%.

Brookfield 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.