Brookfield Asst Stock Price, News & Analysis

Brookfield Asset Management has secured approval from the Toronto Stock Exchange to renew its normal course issuer bid, allowing the company to repurchase up to 10% of its publicly traded Class A Preference Shares from August 20, 2020, to August 19, 2021. The repurchases will reflect market prices at the time and will result in the cancellation of shares acquired. Brookfield aims to leverage market conditions where shares may not reflect their intrinsic value, representing an effective use of available funds.

Brookfield Asset Management reported a net loss of $656 million for Q2 2020 as economic shutdowns impacted operations. However, they raised a record $23 billion in capital, bringing total capital for deployment to $77 billion. Funds from operations (FFO) reached $1.2 billion, matching the prior year. Fee-related earnings rose 23% quarter-over-quarter, indicating strong asset management performance. The board declared a quarterly dividend of $0.12 per share, payable on September 30, 2020. Despite challenges, the company is optimistic about recovery and future investment opportunities.

Brookfield Asset Management announced the first closing of its European core-plus real estate fund, Brookfield European Real Estate Partnership (BEREP), with €725 million in equity commitments. This fund focuses on European real estate, joining existing core-plus funds in North America and Australia. BEREP's first investment is in a high-quality office space in Paris, showcasing Brookfield's European real estate strategy. The firm manages $31 billion in European assets and is one of the largest alternative asset managers globally, overseeing over $515 billion in total assets.

Brookfield Asset Management announced there will be no conversion of its Cumulative Class A Preference Shares, Series 42 into Series 43 Shares. Only 132,682 Series 42 Shares were tendered for conversion, significantly below the one million required. Holders of Series 42 Shares will continue to retain their shares. Brookfield is a major alternative asset manager with over US$515 billion in assets under management across sectors including real estate and renewable power.

Brookfield Asset Management (BAM.A) announced on June 15, 2020, that all eight nominees for its board of directors were successfully elected during the shareholders' annual meeting held virtually on June 12, 2020. The election results highlighted significant support for the nominated directors, with voting percentages ranging from 95.69% to 99.90% for Class A Shares. With over US$515 billion in assets under management, Brookfield continues to be a significant player in the global alternative asset management sector.

Brookfield Asset Management has entered a $260 million subscription agreement to acquire perpetual exchangeable Series 1 Preferred Stock from Superior Plus Corp. Through this investment, Brookfield aims to hold approximately 15% of Superior's common shares, contingent on exchange options. The Preferred Stock can be exchanged at a price of $8.67 per share, with voting rights limited to 19.9% without shareholder approval. This move reflects Brookfield’s strategy to enhance its investment portfolio.

Brookfield Asset Management has announced the fixed dividend rate for its Cumulative Class A Preference Shares, Series 42, effective from July 1, 2020, at an annual rate of 3.254% (or $0.203375 per share quarterly) for five years. Holders can convert their Series 42 Shares to Series 43 Shares until June 15, 2020. For Series 25 Shares, the quarterly dividend for the period ending September 30, 2020, will be $0.161 per share. Brookfield manages over $515 billion in assets, focusing on real estate, infrastructure, and renewable power.

Brookfield Asset Management (NYSE: BAM) has received approval from the Toronto Stock Exchange for its normal course issuer bid to buy back up to 132,829,848 Class A Shares, representing 10% of its public float. The bid will run from May 25, 2020, to May 24, 2021. Brookfield purchased 11,838,181 Class A Shares in its previous bid at an average price of US$35.99. The company believes its shares may not reflect their true value and plans to use its excess cash for these purchases. An automatic purchase plan will also be initiated around June 22, 2020, for further acquisitions.