Maryland State Retirement & Pension System Has $10.12 Million Stake in Brookfield Corporation $BN

Maryland State Retirement & Pension System grew its holdings in Brookfield Corporation (NYSE:BN) by 5.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 249,707 shares of the company’s stock after acquiring an additional 11,797 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Brookfield were worth $10,121,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of BN. AQR Capital Management LLC increased its stake in Brookfield by 147.5% during the 1st quarter. AQR Capital Management LLC now owns 18,571 shares of the company’s stock worth $963,000 after purchasing an additional 11,069 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Brookfield by 13.5% in the first quarter. NewEdge Advisors LLC now owns 2,488 shares of the company’s stock valued at $130,000 after buying an additional 295 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Brookfield by 32.3% in the second quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company’s stock valued at $353,000 after buying an additional 1,396 shares during the period. AXA S.A. boosted its holdings in shares of Brookfield by 42.2% in the second quarter. AXA S.A. now owns 103,531 shares of the company’s stock valued at $6,403,000 after buying an additional 30,703 shares during the period. Finally, Squarepoint Ops LLC increased its position in shares of Brookfield by 29.6% during the second quarter. Squarepoint Ops LLC now owns 25,502 shares of the company’s stock worth $1,577,000 after acquiring an additional 5,821 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Price Performance

NYSE BN opened at $43.69 on Wednesday. The firm’s 50 day moving average is $44.70 and its 200-day moving average is $44.54. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $107.08 billion, a PE ratio of 85.66 and a beta of 1.54. Brookfield Corporation has a 12-month low of $37.93 and a 12-month high of $49.56.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.07 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. Brookfield’s dividend payout ratio (DPR) is 54.90%.

Wall Street Analyst Weigh In

BN has been the topic of several research reports. National Bank Financial boosted their price objective on shares of Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Scotia increased their target price on Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th. TD lifted their price target on Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Scotiabank restated an “outperform” rating and issued a $53.00 price target (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $56.82.

Brookfield Profile

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long?lived, cash?generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.