GatePass Capital LLC Increases Stake in Brookfield Corporation $BN

GatePass Capital LLC raised its stake in Brookfield Corporation (NYSE:BN) by 580.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,450 shares of the company’s stock after acquiring an additional 46,450 shares during the quarter. Brookfield makes up approximately 1.0% of GatePass Capital LLC’s investment portfolio, making the stock its 23rd largest position. GatePass Capital LLC’s holdings in Brookfield were worth $2,204,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BN. Truvestments Capital LLC increased its holdings in shares of Brookfield by 49.9% during the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock valued at $29,000 after purchasing an additional 213 shares in the last quarter. Meadow Creek Wealth Advisors LLC boosted its holdings in Brookfield by 2.3% during the first quarter. Meadow Creek Wealth Advisors LLC now owns 10,308 shares of the company’s stock worth $417,000 after buying an additional 234 shares in the last quarter. Hilltop National Bank boosted its holdings in Brookfield by 49.9% during the fourth quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after buying an additional 241 shares in the last quarter. New England Capital Financial Advisors LLC grew its position in Brookfield by 50.2% during the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock valued at $34,000 after buying an additional 251 shares during the period. Finally, ST Germain D J Co. Inc. increased its holdings in Brookfield by 49.9% in the fourth quarter. ST Germain D J Co. Inc. now owns 811 shares of the company’s stock valued at $37,000 after buying an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of Brookfield stock opened at $43.63 on Friday. The business’s 50 day moving average price is $44.54 and its 200 day moving average price is $44.50. The company has a market cap of $106.96 billion, a price-to-earnings ratio of 85.56 and a beta of 1.54. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. Brookfield Corporation has a one year low of $37.93 and a one year high of $49.56.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued 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 dividend yield of 0.6%. Brookfield’s dividend payout ratio is currently 54.90%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BN shares. Scotiabank reiterated an “outperform” rating and issued a $53.00 price objective (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. Royal Bank Of Canada cut their price target on Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, May 15th. JPMorgan Chase & Co. increased their price target on Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. TD increased their price target on Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Finally, TD Securities reissued a “buy” rating and issued a $60.00 price objective on shares of Brookfield in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.82.

About Brookfield

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.