Brookfield Property Partners was Downgraded to a Hold Rating at Canaccord Genuity

By Jason Carr

Canaccord Genuity analyst Mark Rothschild downgraded Brookfield Property Partners (NYSE: BPY) to Hold yesterday and set a price target of $24. The company’s shares closed yesterday at $22.50.

According to TipRanks.com, Rothschild is a 5-star analyst with an average return of 9.0% and a 76.8% success rate. Rothschild covers the Financial sector, focusing on stocks such as Brookfield Asset Mng, Essex Property Trust, and Gazit-Globe Ltd.

Brookfield Property Partners has an analyst consensus of Moderate Buy, with a price target consensus of $25.

Based on Brookfield Property Partners’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $1.51 billion and quarterly net profit of $71 million. In comparison, last year the company earned revenue of $1.4 billion and had a net profit of $533 million.

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Brookfield Property Partners LP is a global commercial property company, which owns, operates, and invests in office, retail, multifamily, and industrial assets. Through its subsidiaries, it operates its business through the following segments: Core Office, Core Retail, Opportunistic, and Corporate.