Brookfield Corporation (BN) Stock: Institutional Buying, AI Infrastructure Push and Preferred Share Deal – Update for November 29, 2025

Brookfield Corporation stock (NYSE: BN, TSX: BN) heads into the final stretch of 2025 with fresh signs of institutional confidence, a revamped capital structure, and a growing bet on artificial intelligence infrastructure.

On November 29, 2025, new regulatory filings showed two large investors – Korea Investment CORP and Scotia Capital Inc. – boosting their positions in Brookfield. These moves land just days after the company completed a C$250 million preferred share offering, and weeks after reporting solid third‑quarter results and unveiling a massive AI infrastructure program through its asset management arm. ^[1]

Below is a detailed look at what changed for Brookfield stock as of November 29, 2025 – and what investors are watching next.

Brookfield stock today: price, performance and valuation

U.S. and Canadian equity markets were closed on Saturday, November 29, so the most recent trading data for Brookfield Corporation comes from Friday, November 28, 2025:

• NYSE: BN
  • Close: $47.00 (StockAnalysis / Investing.com data show BN up about 0.9% on the day) ^[2]
  • Recent momentum: the stock has climbed from the low‑$40s in mid‑November.
• TSX: BN
  • Close: C$65.98, up 0.64% on November 28. ^[3]

MarketBeat’s overview of BN shows: ^[4]

• 52‑week range: $29.07 – $49.47
• Market capitalization: about $117 billion
• P/E ratio: around 165x trailing earnings – well above both market and sector averages
• Price-to-book: roughly 0.7x, suggesting the shares still trade below estimated asset value despite the high earnings multiple

That unusual combination – premium earnings multiple but discounted vs. book value – is classic Brookfield: a complex conglomerate where GAAP earnings understate the value of long‑duration real assets and fee‑based cash flows.

New on November 29: big institutions quietly add to BN

Scotia Capital Inc. lifts BN to a top‑15 holding

In a filing summarized by MarketBeat on November 29, 2025, Scotia Capital Inc. disclosed that it increased its stake in Brookfield Corporation by 4.0% in the second quarter: ^[5]

• Shares owned: 7,226,323 (after buying an additional 280,062 shares)
• Stake: about 0.44% of Brookfield’s outstanding shares
• Position size: roughly $446 million
• Portfolio weight: about 2.1% – making BN Scotia Capital’s 11th‑largest holding

The article notes that institutional investors overall own roughly 61.6% of Brookfield’s stock, underscoring that this is a name dominated by professional money. ^[6]

Korea Investment CORP also adds to its BN position

A separate filing, also highlighted on November 29, shows Korea Investment CORP increasing its Brookfield holding: ^[7]

• Incremental buying: +28,996 shares (a 3.1% increase)
• Total shares: 961,567
• Estimated value: about $59.4 million
• Ownership: roughly 0.06% of Brookfield’s equity

Like the Scotia transaction, this is framed as part of a broader pattern: smaller institutions and wealth managers steadily accumulating BN over recent quarters.

Why these moves matter for Brookfield stock

On their own, these position changes don’t radically alter Brookfield’s ownership profile. But they send a notable signal:

• BN is gaining mindshare among global institutions as a core way to play alternatives, infrastructure and AI‑driven data‑center demand.
• The fact that Scotia Capital and Korea Investment CORP are adding after a strong year‑to‑date rally suggests they see further upside rather than simply averaging down.
• These filings also come after a Zacks downgrade from “strong‑buy” to “hold” on November 15 – yet institutional inflows have continued, implying that many large investors remain comfortable with the long‑term thesis despite near‑term valuation concerns. ^[8]

Capital structure update: C$250 million Series 54 preferred share issue

Just days before the November 29 filings, Brookfield closed a C$250 million preferred share financing that reshapes part of its capital structure. ^[9]

Key details of the Class A Preference Shares, Series 54 (BN.PF.M):

• Issue size: C$250,000,000
• Shares issued: 10,000,000 at C$25.00 each (including a full over‑allotment option)
• Initial dividend: cumulative, fixed 5.65% annually, paid quarterly, through December 31, 2030
• Reset feature: after 2030, the rate resets every five years at the greater of:
  • 5‑year Government of Canada yield + 2.80%, or
  • 5.65%
• Listing: Toronto Stock Exchange under ticker BN.PF.M

Crucially, Brookfield intends to use the net proceeds to redeem all outstanding Series 44 preferred shares (BN.PF.H) at C$25.00 on December 31, 2025, with holders receiving their previously declared C$0.3125 dividend on the same date. ^[10]

For common shareholders, the move signals:

• Management is actively terming out and optimizing its hybrid capital, locking in relatively attractive long‑term funding costs.
• The redemption of Series 44 simplifies the preferred stack and may slightly improve Brookfield’s weighted average cost of capital over time.

Q3 2025 results: strong fundraising, solid distributable earnings

Brookfield’s third‑quarter 2025 results, released on November 13, provide the fundamental backdrop to the latest buying. ^[11]

Headline numbers (Brookfield Corporation, consolidated):

• Net income: $284 million (vs. $1.5 billion a year earlier, largely reflecting fair‑value swings and monetization timing)
• Net income attributable to Brookfield shareholders: $219 million
• Distributable earnings before realizations:
  • Q3: $1.33 billion, up from $1.26 billion
  • Last twelve months: $5.39 billion, up 18% year‑over‑year
• Per‑share DE before realizations: about $0.56 this quarter and $2.27 over the last twelve months (all figures split‑adjusted after a three‑for‑two stock split completed on October 9, 2025).

Different data providers diverge slightly on whether Q3 was a narrow “beat” or “miss” versus consensus estimates:

• MarketBeat’s institutional‑flow articles describe Q3 as a slight beat, with EPS around $0.63 vs. $0.61 expected and revenue about $1.59 billion vs. $1.58 billion. ^[12]
• An earnings‑call summary on Investing.com, looking at another EPS metric, characterizes results as a small miss – EPS of $0.56 vs. a $0.587 forecast, with revenue at $1.57 billion, in line with expectations. ^[13]

Either way, the quarter landed very close to consensus, with the broader story dominated by fundraising and capital deployment rather than headline EPS.

Fee‑earning machine: asset management and fundraising

Brookfield Corporation still owns roughly 75% of its asset management business, with the remaining 25% represented by Brookfield Asset Management Ltd. (BAM). ^[14]

That engine continues to hum:

• At the asset manager level, Q3 saw about $30 billion of inflows, with strong demand across energy transition, infrastructure, private credit and real estate, according to industry reporting and management commentary. ^[15]
• Fee‑related earnings at the manager hit record levels (around $750+ million in the quarter), and fee‑bearing capital stands north of half a trillion dollars. ^[16]

Those numbers matter directly for BN shareholders because:

• Brookfield’s economic interest in the asset manager gives BN a leveraged claim on fee‑related earnings, carried interest and long‑term growth in assets under management.
• The more capital that flows into AI infrastructure, energy transition, private credit and core real assets, the more high‑margin fee income BN can capture over time.

Dividend and buybacks

Brookfield’s board declared a quarterly common dividend of $0.06 per share, payable December 31, 2025, to shareholders of record on December 16. On an annualized basis ($0.24), that equates to a yield of around 0.5% at recent prices, with a payout ratio near two‑thirds of GAAP earnings but a low single‑digit percentage of distributable earnings. ^[17]

Management also highlighted:

• Share repurchases of over $950 million year‑to‑date at an average price around $36 – roughly a 50% discount to Brookfield’s internal intrinsic value estimate of $69 per share. ^[18]

That alignment – buying back stock below estimated intrinsic value while paying only a modest cash dividend – is a key part of the long‑term BN equity story.

AI infrastructure program: a long‑term growth catalyst

One of the most important medium‑term drivers for Brookfield Corporation stock is the group’s outsized bet on AI infrastructure.

On November 19, 2025, Reuters reported that Brookfield Asset Management launched a $100 billion AI infrastructure program in partnership with Nvidia and the Kuwait Investment Authority: ^[19]

• The initiative is anchored by a new Brookfield Artificial Intelligence Infrastructure Fund, targeting $10 billion of equity commitments.
• The fund has already secured about $5 billion, including capital from Brookfield itself, Nvidia and KIA.
• With co‑investments and debt financing, the platform aims to invest up to $100 billion in:
  • Data centers
  • Power and energy infrastructure
  • Land and real‑asset platforms supporting AI compute

Brookfield executives have described AI as driving “one of the largest infrastructure build‑outs in history,” estimating that global AI infrastructure could require around $7 trillion of capital over the next decade. ^[20]

For BN shareholders, the implications are significant:

• Brookfield is positioned not just as a real‑estate or infrastructure owner, but as a core enabler of the AI economy – owning and operating the data‑center, power and network assets AI workloads require.
• Because of the asset‑management structure, BN benefits in two ways:
  1. Fee income and carried interest from the AI fund and related vehicles.
  2. Direct investment returns where Brookfield invests its own balance sheet capital alongside clients.

Taken together with record Q3 fundraising and the planned full acquisition of Oaktree Capital to deepen its credit platform, Brookfield is evolving into one of the most diversified and AI‑levered alternative managers in the market. ^[21]

Analyst views: mostly bullish, but valuation is a talking point

Despite isolated downgrades, the Street remains broadly positive on BN.

MarketBeat’s consolidated data and recent research‑note summaries show: ^[22]

• Consensus rating:“Buy”
  • 2 analysts: Strong Buy
  • 9 analysts: Buy
  • 2 analysts: Hold
• Average 12‑month price target:$53–54, implying roughly 12–14% upside from late‑November prices.
• Recent moves include:
  • JPMorgan, Scotiabank, CIBC and TD Securities all reinforcing Overweight/Outperform/Buy ratings with targets mostly in the $50–$59 range.
  • Zacks cutting its view from strong‑buy to hold on November 15, citing valuation but acknowledging strong fundamentals. ^[23]
  • Wall Street Zen downgrading BN from hold to sell in late November, a more cautious outlier. ^[24]

On the numbers:

• MarketBeat calculates a P/E of about 165x, far above the ~39x market average and ~22x finance‑sector average, highlighting just how accounting‑sensitive Brookfield’s GAAP earnings are. ^[25]
• At the same time, a price‑to‑book near 0.7x suggests that on an asset‑value basis, BN may still be undervalued relative to its underlying portfolio. ^[26]

From a technical perspective, Investor’s Business Daily recently noted that BN’s Relative Strength (RS) Rating has climbed into the mid‑70s and that the stock is forming a consolidation with a potential buy point around $49.47, its recent high – although it has not yet broken out above that level. ^[27]

Key risks and what to watch

Even with rising institutional interest and AI tailwinds, BN is not risk‑free:

1. Complex structure & valuation optics
   • GAAP earnings can be noisy due to fair‑value adjustments, asset sales and non‑recourse debt, leading to a headline P/E that looks extremely high. ^[28]
   • Understanding Brookfield requires comfort with non‑IFRS measures like distributable earnings and a willingness to look through short‑term accounting volatility.
2. Macro and interest‑rate sensitivity
   • Brookfield is deeply exposed to global real estate, infrastructure and credit markets. Higher‑for‑longer interest rates can pressure valuations, raise funding costs and slow transaction activity.
3. Execution risk in AI and credit
   • The $100 billion AI infrastructure push and the full integration of Oaktree are huge opportunities but also carry execution and integration risk. ^[29]
4. Short interest ticking higher
   • MarketBeat data show that about 1.2% of BN’s float is sold short, with short interest up roughly 18% recently – still modest, but suggesting some investors are betting against the stock after its rebound. ^[30]

Bottom line for Brookfield stock on November 29, 2025

Putting it all together:

• November 29 filings show Scotia Capital and Korea Investment CORP increasing positions in Brookfield, reinforcing the view that BN remains a core long‑term holding for large institutions. ^[31]
• Brookfield has just refreshed its preferred share stack with a C$250 million Series 54 issue and plans to redeem its older Series 44 prefs, modestly improving financial flexibility and funding visibility. ^[32]
• Q3 2025 results showcased robust distributable earnings and powerful fundraising momentum, even if headline EPS landed only roughly in line with market expectations. ^[33]
• The group’s ambitious AI infrastructure program with Nvidia and KIA – alongside record private‑markets fundraising and the planned full takeover of Oaktree – positions Brookfield as a key long‑term beneficiary of AI‑driven infrastructure demand and private‑credit growth. ^[34]

For investors following Brookfield Corporation stock today, the message from the latest news flow is clear:

Smart institutional money is still leaning in, management is proactively managing the balance sheet, and Brookfield is doubling down on the very themes – AI, infrastructure, private credit and energy transition – that are likely to shape capital markets for the next decade.

As always, this overview is informational only and not personalized investment advice. Anyone considering BN should weigh these developments against their own risk tolerance, time horizon and portfolio needs, and consider speaking with a qualified financial advisor.

References

1. www.marketbeat.com, 2. stockanalysis.com, 3. stockanalysis.com, 4. www.marketbeat.com, 5. www.marketbeat.com, 6. www.marketbeat.com, 7. www.marketbeat.com, 8. www.marketbeat.com, 9. bn.brookfield.com, 10. bn.brookfield.com, 11. bn.brookfield.com, 12. www.marketbeat.com, 13. www.investing.com, 14. en.wikipedia.org, 15. inforcapital.com, 16. www.investing.com, 17. bn.brookfield.com, 18. bn.brookfield.com, 19. www.reuters.com, 20. www.reuters.com, 21. inforcapital.com, 22. www.marketbeat.com, 23. www.marketbeat.com, 24. www.marketbeat.com, 25. www.marketbeat.com, 26. www.marketbeat.com, 27. www.investors.com, 28. bn.brookfield.com, 29. www.reuters.com, 30. www.marketbeat.com, 31. www.marketbeat.com, 32. bn.brookfield.com, 33. bn.brookfield.com, 34. www.reuters.com