Why Shares of Brookfield Real Assets Income Fund Crashed Today
Shares in the Brookfield Real Assets Income Fund (NYSE: RA) were down by a whopping 20% as of midday Wednesday. The plunge was triggered by the board of directors declaring that the fund was slashing its monthly distribution. The previous monthly payout of $0.199 per share will be repeated in September, but from October onward, it will drop to $0.118 per share -- a nearly 41% cut.
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The new monthly distribution annualizes to $1.416 per share and puts the stock on a theoretical dividend yield of 10.5%. In addition, the fund's net asset value (NAV) per share stood at $14.84 at the end of June compared to a stock price of $13.44 at the time of this writing.
Source Fool.com
Brookfield Corp. Stock
€42.70
1.890%
We see a rather positive sentiment for Brookfield Corp. with 13 Buy predictions and 1 Sell predictions.
At the moment Brookfield Corp. has reached the predicted target price of 43 €, with a current price of 42.7 €.
