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Brookfield Asset Management increased stake in Brookfield Property Partners L.P.

Published 04/04/2021, 06:11 PM
Updated 04/04/2021, 06:30 PM
© Reuters. Brookfield Asset Management increased stake in Brookfield Property Partners L.P.

On the 31st of March, Brookfield Asset Management added 504 million Brookfield Property Partners L.P. (NASDAQ:BPY) shares for $9 billion at an average price of $17.79 per share. Shares of Brookfield Property Partners L.P. are up 1.46% since the transaction.

Brookfield Asset Management's holding in Brookfield Property Partners L.P. increased to about 605 million shares with the purchase.

Brookfield Asset Management first bought Brookfield Property Partners L.P. stock in the second quarter of 2013. Brookfield Asset Management also owns Pebblebrook Hotel Trust (NYSE:PEB), Essential Properties Realty Trust Inc (NYSE:EPRT), Brookfield Property REIT Inc. (BPYU) and VICI Properties Inc (NYSE:VICI). Brookfield Property Partners L.P. is its number one position by number of shares and market value among real estate management & development stocks.

In contrast, Citigroup (NYSE:C) and Letko, Brosseau & Associates reduced BPY shares, while Burgundy Asset Management sold all their BPY shares.

Brookfield Asset Management also reduced their share in Brookfield Renewable Corporatio (BEPC). The total value of the shares sold is estimated at around $573 million.

In addition, Brookfield Asset Management added to their share in TransAlta Corporation (NYSE:TAC) and Brookfield Renewable Partners L (NYSE:BEP). The total value of the shares bought is estimated at around $3.6 billion.

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