Brookfield wants to buy mall-owner GGP for $14.8 billion

Brookfield Infrastructure Partners LP - Receive News & Ratings Daily

"Brookfield's access to large-scale capital and deep operating expertise across multiple real estate sectors combined with GGP's high-quality retail asset base will allow us to maximize the value of these irreplaceable assets", said Brian Kingston, Brookfield Property Partners CEO in a release announcing the bid. The company now has a consensus rating of Buy and an average price target of $48.88. Manufacturers Life Insurance Company, The now owns 96,050 shares worth $3,057,000. Brookfield Infrastructure Partners LP has a 12-month low of $30.76 and a 12-month high of $44.91. Canaccord Genuity restated a "buy" rating and issued a $28.00 price objective on shares of Brookfield Property Partners L.P.in a research note on Friday, November 3rd. 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 saw a rise in short interest of 13.48% as of October 31, 2017 from the last reporting period. New England Private Wealth Advisors LLC claims 21,500 shares worth $927,000. Advisors Capital Management LLC grew its position in shares of Brookfield Infrastructure Partners by 2.6% during the 2nd quarter.

A number of other equities analysts have also weighed in on the company. CIBC Asset Management Inc raised its stake in shares of Brookfield Property Partners L.P.by 51.8% in the 3rd quarter. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.23 and a current ratio of 0.23. November 3 investment analysts at Canaccord Genuity kept the stock rating at "Buy" projecting a price of $28.00. Ameriprise Financial Inc. bought a new position in Brookfield Infrastructure Partners during the 1st quarter worth approximately $350,000.

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However, GGP shares on the New York Stock Exchange are down almost six per cent year-to-date as brick-and-mortar retailers increasingly come under pressure from competition from e-commerce, such as Amazon.

The company is now down by 0.44% percent from yesterday's close.

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The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. If you are accessing this news story on another website, it was stolen and reposted in violation of USA & global trademark and copyright legislation. The ex-dividend date of this dividend is Wednesday, November 29th. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued. This represents a $1.74 annualized dividend and a yield of 4.00%.

Brookfield Property now holds approximately $68 billion in total assets.

According to Zacks, "BROOKFIELD INFRASTRUCTURE PARTNERS L.P. was established by Brookfield Asset Management as its primary vehicle to own and operate certain infrastructure assets on a global basis".

Brookfield Asset Management Inc., a Canada-based company dealing with the pivotal domain of asset management, is all set to acquire GGP Inc., a giant firm across the real estate investment sector, for United States dollars 14 billion.

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