Vanguard Group Inc. Cuts Stock Holdings in Millrose Properties, Inc. $MRP

Vanguard Group Inc. lessened its stake in Millrose Properties, Inc. (NYSE:MRP) by 2.4% during the third quarter, Holdings Channel reports. The firm owned 18,157,086 shares of the company’s stock after selling 437,761 shares during the period. Vanguard Group Inc. owned approximately 0.11% of Millrose Properties worth $610,260,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. purchased a new position in shares of Millrose Properties in the 1st quarter worth $18,093,000. Blue Whale Capital LLP raised its holdings in shares of Millrose Properties by 103.2% in the 2nd quarter. Blue Whale Capital LLP now owns 1,199,069 shares of the company’s stock worth $34,185,000 after purchasing an additional 609,083 shares during the period. Norges Bank acquired a new position in shares of Millrose Properties in the 2nd quarter valued at about $15,614,000. Thrivent Financial for Lutherans grew its holdings in shares of Millrose Properties by 497.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 527,730 shares of the company’s stock worth $15,045,000 after purchasing an additional 439,396 shares during the period. Finally, Allianz Asset Management GmbH increased its position in Millrose Properties by 1,371.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 438,705 shares of the company’s stock worth $14,745,000 after purchasing an additional 408,885 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MRP shares. BTIG Research started coverage on shares of Millrose Properties in a research report on Monday, December 1st. They set a “buy” rating and a $35.00 price target on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Millrose Properties in a research note on Thursday, January 22nd. Finally, Citigroup lifted their target price on shares of Millrose Properties from $34.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $36.13.

Millrose Properties Stock Performance

Shares of MRP stock opened at $30.90 on Wednesday. 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 company’s fifty day moving average price is $30.40 and its two-hundred day moving average price is $31.81. The firm has a market capitalization of $5.13 billion and a P/E ratio of 18.18. Millrose Properties, Inc. has a 12 month low of $21.02 and a 12 month high of $36.00.

Millrose Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, January 5th were issued a $0.75 dividend. This is an increase from Millrose Properties’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 9.7%. The ex-dividend date of this dividend was Monday, January 5th. Millrose Properties’s dividend payout ratio (DPR) is currently 176.47%.

Millrose Properties Company 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.