Stock Monitor: Green Brick Partners Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 23, 2018 / Active-Investors.com has just released a free research report on Brookfield Asset Management Inc. (NYSE: BAM) ("Brookfield"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=BAM as the Company's latest news hit the wire. On March 21, 2018, the Company, which is a leading global alternative asset manager, and GLP, which is the leading global provider of modern logistics, industrial facilities, and technology solutions, collectively announced the formation of a joint venture dedicated to building a leading platform for distributed solar energy on logistics and commercial rooftops in China. The joint venture would be formed by affiliates of the two Companies, where it intends to install 300 megawatts of rooftop solar projects over the next three years, with a 1 GW development pipeline which would be equal to the annual power consumption of over 75,000 households. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Green Brick Partners, Inc. (NASDAQ: GRBK), which also belongs to the Financial sector as the Company Brookfield Asset Management. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Brookfield Asset Management most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=BAM
The Announcement
Under the terms of the agreement, the joint venture would leverage GLP's expanding presence of over 33 million square meters of logistics facilities in China, and Brookfield's extensive expertise as a leading global owner, operator, and developer of renewable power assets. The Companies plan to follow the development opportunities on third party-owned rooftops across China, and would expand into other areas of cooperation in the future.
GLP viewed the announcement as a step for the Companies to leverage each other's strengths to further capitalize on their high-quality assets. Moreover, the Company plans to invest in infrastructure beyond its logistics platform to deliver better services to its customers and communities. Brookfield, on the other hand, viewed the agreement as an attractive opportunity to expand its footprint in China's rapidly growing renewables energy market.
GLP is currently the leader in building environment-friendly logistics facilities globally, according to Brookfield. In fact, in Japan, GLP is reportedly the largest solar power provider of rooftop panels on logistics facilities. Brookfield currently operates one of the largest, public pure-play renewable businesses globally. The Company's portfolio consists of hydroelectric, wind, solar, and storage facilities in North America, South America, Europe, and Asia, where the total installed capacity ranges over 16,000 megawatts.
Company Growth Prospects
Additionally, on March 21, 2018, Brookfield, along with LCM Partners, a European alternative credit investment manager, together announced that they had entered into a strategic partnership to grow LCM Partners' leading asset management and credit servicing business globally. Under the terms of the agreement, Brookfield would acquire a strategic interest in Link Financial Group of 25%, which, according to the Company, comprised both of LCM Partners and its sister companies which currently operate a loan servicing platform under the Link Financial brand, with the option to acquire another 24.9% over time.
Prior to the announcement, on February 15, 2018, Brookfield announced its full fiscal year 2017 results for the 12-month period ended December 31, 2017. The Company reported a net income of $4.6 billion, up $1.2 billion from FY16. During FY17, the Company stated that it invested $15 billion of capital in high quality assets across multiple asset classes and geographies.
Stock Performance Snapshot
March 22, 2018 - At Thursday's closing bell, Brookfield Asset Management's stock slightly fell 0.68%, ending the trading session at $11.76.
Volume traded for the day: 31.45 thousand shares.
Stock performance in the last month – up 12.64%; previous three-month period – up 3.70%; past six-month period – up 11.15%; and last twelve-month period – up 43.94%
After yesterday's close, Brookfield Asset Management's market cap was at $167.23 million.
Price to Earnings (P/E) ratio was at 40.69.
The stock has a dividend yield of 6.80%.
The stock is part of the Financial sector, categorized under the Real Estate Development industry.
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