Brookfield Property makes $14B bid for mall owner GGP

A passer-by walks past the exterior of Brookfield Place an upscale mall in Lower Manhattan at the World Financial Center in New York in this Nov. 2015

A passer-by walks past the exterior of Brookfield Place an upscale mall in Lower Manhattan at the World Financial Center in New York in this Nov. 2015

Investors are a little more bearish on shares of Brookfield Property Partners L lately as shown by the uptick in short interest. The company now has a consensus rating of "Buy" and a consensus target price of $48.88. Bollard Group LLC now owns 3,681 shares of the utilities provider's stock valued at $151,000 after buying an additional 38 shares during the last quarter. Brookfield Property Partners L.P. has a 1-year low of $20.31 and a 1-year high of $24.96. Scotiabank reissued an "outperform" rating and issued a $53.00 price objective on shares of Brookfield Infrastructure Partners in a research note on Monday, September 18th. DT Investment Partners LLC now owns 55,880 shares of the financial services provider's stock worth $1,323,000 after buying an additional 8,958 shares during the last quarter. The company realized a rise in short interest between October 13, 2017 and October 31, 2017 of 13.48%. CIBC Asset Management Inc now owns 6,076,461 shares of the financial services provider's stock valued at $141,097,000 after buying an additional 2,072,246 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Brookfield Property Partners L.P.by 52.4% in the 1st quarter. The firm has a market cap of $5,810.00, a PE ratio of 98.67 and a beta of 0.89. Four brokerages rating the company a strong buy, nine brokerages rating the company a buy, four brokerages rating the company a hold, one brokerage rating the company a underperform, and finally zero brokerages rating the company a sell with a 12-month price target of $32.27.

Brookfield Property Partners is listed on the NY and Toronto stock exchanges.

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In the market the company is trading down by 4.10% since yesterday's close of 23.68.

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The transaction will create, in BPY, one of the largest listed property companies in the world, with an ownership interest in nearly $100 billion of premier real estate assets globally and annual net operating income of approximately $5 billion.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.435 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.00%. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued. Short interest increased 25,877 over that timeframe. The Company owns, operates and develops a portfolio of office, retail, multifamily, industrial, hospitality, triple net lease, self-storage and student housing assets.

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Brookfield Property Partners LP is offering $18.8 billion in stock and cash to buy out the shares of USA shopping mall owner GGP Inc. that it does not already own, doubling down on the future of brick-and-mortar retail as many merchants come under pressure from e-commerce.

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