Royal Bank of Canada Reiterates “C$68.00” Price Target for Brookfield Asset Management (TSE:BAM)

Royal Bank of Canada set a C$68.00 target price on Brookfield Asset Management (TSE:BAM) (NYSE:BAM) in a research report released on Monday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts have also weighed in on BAM. UBS Group restated a “buy” rating on shares of Brookfield Asset Management in a report on Monday, December 16th. Hsbc Global Res upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th.

Brookfield Asset Management Price Performance

TSE BAM opened at C$71.18 on Monday. Brookfield Asset Management has a fifty-two week low of C$51.14 and a fifty-two week high of C$90.24. The stock’s 50-day moving average is C$79.43 and its two-hundred day moving average is C$73.59. The firm has a market cap of C$83.57 billion and a P/E ratio of 24.49.

Brookfield Asset Management Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be paid a $0.4375 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.46%. Brookfield Asset Management’s payout ratio is presently 70.53%.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.