Millrose Properties, Inc. $MRP is Brave Warrior Advisors LLC’s 10th Largest Position

Brave Warrior Advisors LLC lessened its stake in shares of Millrose Properties, Inc. (NYSE:MRP) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,861,690 shares of the company’s stock after selling 97,123 shares during the quarter. Millrose Properties makes up about 5.1% of Brave Warrior Advisors LLC’s portfolio, making the stock its 10th biggest position. Brave Warrior Advisors LLC owned approximately 4.74% of Millrose Properties worth $224,137,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in MRP. Vanguard Group Inc. purchased a new stake in shares of Millrose Properties during the 1st quarter worth $488,156,000. State Street Corp lifted its position in shares of Millrose Properties by 8.7% during the second quarter. State Street Corp now owns 4,173,660 shares of the company’s stock valued at $118,991,000 after buying an additional 333,686 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Millrose Properties during the first quarter valued at about $84,773,000. Wellington Management Group LLP bought a new stake in shares of Millrose Properties in the 1st quarter valued at about $75,729,000. Finally, Geode Capital Management LLC grew its position in shares of Millrose Properties by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,208,793 shares of the company’s stock worth $62,983,000 after buying an additional 44,506 shares during the last quarter.

Wall Street Analyst Weigh In

MRP has been the subject of a number of analyst reports. Citizens Jmp started coverage on shares of Millrose Properties in a research report on Wednesday, October 8th. They set a “mkt outperform” rating and a $40.00 target price for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Millrose Properties in a report on Wednesday, October 8th. JMP Securities assumed coverage on Millrose Properties in a research note on Wednesday, October 8th. They set a “market outperform” rating and a $40.00 target price on the stock. BTIG Research started coverage on Millrose Properties in a research report on Monday, December 1st. They set a “buy” rating and a $35.00 target price on the stock. Finally, Citigroup raised their price target on Millrose Properties from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $36.90.

Millrose Properties Price Performance

NYSE MRP opened at $31.66 on Friday. The company has a market cap of $5.26 billion and a price-to-earnings ratio of 18.62. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.46 and a quick ratio of 0.46. The stock’s fifty day moving average price is $31.56 and its 200 day moving average price is $31.29. Millrose Properties, Inc. has a 1 year low of $19.00 and a 1 year high of $36.00.

Millrose Properties (NYSE:MRP) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $179.26 million during the quarter.

Millrose Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Friday, October 3rd were given a $0.73 dividend. This is an increase from Millrose Properties’s previous quarterly dividend of $0.69. This represents a $2.92 dividend on an annualized basis and a yield of 9.2%. The ex-dividend date was Friday, October 3rd. Millrose Properties’s payout ratio is currently 171.76%.

Insider Buying and Selling

In other Millrose Properties news, Director Carlos A. Migoya acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were purchased at an average price of $32.24 per share, for a total transaction of $32,240.00. Following the completion of the purchase, the director directly owned 16,766 shares of the company’s stock, valued at $540,535.84. The trade was a 6.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick J. Bartels, Jr. bought 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The shares were acquired at an average price of $32.52 per share, with a total value of $243,900.00. Following the completion of the transaction, the director directly owned 30,660 shares of the company’s stock, valued at $997,063.20. This trade represents a 32.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 11,476 shares of company stock worth $373,264.

Millrose Properties Company Profile

Millrose Properties, Inc is a real estate investment and management company that focuses on acquiring, developing, and managing high-quality commercial properties. They are headquartered in Purchase, New York.