Greenhaven Associates Inc. Sells 3,286,243 Shares of Millrose Properties, Inc. $MRP

Greenhaven Associates Inc. cut its stake in Millrose Properties, Inc. (NYSE:MRP) by 41.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,601,273 shares of the company’s stock after selling 3,286,243 shares during the quarter. Millrose Properties accounts for about 2.4% of Greenhaven Associates Inc.’s investment portfolio, making the stock its 11th largest holding. Greenhaven Associates Inc. owned 2.77% of Millrose Properties worth $154,649,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MRP. Baird Financial Group Inc. purchased a new stake in Millrose Properties in the first quarter worth approximately $224,000. Royal Bank of Canada bought a new position in shares of Millrose Properties during the 1st quarter valued at $1,508,000. Advisors Asset Management Inc. purchased a new position in shares of Millrose Properties in the 1st quarter worth $45,000. NewEdge Advisors LLC purchased a new position in shares of Millrose Properties in the 1st quarter worth $39,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Millrose Properties in the first quarter worth $18,093,000.

Insider Buying and Selling at Millrose Properties

In other news, Director Carlos A. Migoya purchased 1,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was acquired at an average cost of $32.24 per share, for a total transaction of $32,240.00. Following the completion of the transaction, the director directly owned 16,766 shares in the company, valued at $540,535.84. This trade represents a 6.34% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Millrose Properties Stock Up 0.3%

NYSE MRP opened at $29.79 on Friday. The stock’s 50-day moving average price is $30.43 and its 200-day moving average price is $31.77. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.34. Millrose Properties, Inc. has a 52 week low of $19.00 and a 52 week high of $36.00. The company has a market capitalization of $4.95 billion and a P/E ratio of 17.52.

Millrose Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, January 5th were issued a dividend of $0.75 per share. This is an increase from Millrose Properties’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 10.1%. The ex-dividend date of this dividend was Monday, January 5th. Millrose Properties’s payout ratio is presently 176.47%.

Wall Street Analysts Forecast Growth

MRP has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Millrose Properties in a report on Thursday, January 22nd. Citigroup increased their price objective on shares of Millrose Properties from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. JMP Securities initiated coverage on shares of Millrose Properties in a report on Wednesday, October 8th. They issued a “market outperform” rating and a $40.00 price objective on the stock. 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. Finally, BTIG Research started coverage on shares of Millrose Properties in a report on Monday, December 1st. They set a “buy” rating and a $35.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Millrose Properties presently has an average rating of “Buy” and an average target price of $36.90.

Millrose Properties Profile

Millrose Properties Corp is a publicly traded real estate investment trust that focuses on the acquisition, ownership and development of industrial and logistics properties. The company seeks to capitalize on the growing demand for modern warehouse facilities driven by e-commerce, freight distribution and last-mile delivery requirements. Millrose structures its investments to generate stable, long-term rental income through diversified lease agreements with industrial and logistics operators.

The firm’s core activities include sourcing strategically located industrial assets, overseeing property management operations and executing targeted development or renovation projects.