Arrowstreet Capital Limited Partnership Has $10.74 Million Stake in Millrose Properties, Inc. $MRP

Arrowstreet Capital Limited Partnership reduced its position in shares of Millrose Properties, Inc. (NYSE:MRP) by 61.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 376,786 shares of the company’s stock after selling 594,407 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Millrose Properties were worth $10,742,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Millrose Properties by 144.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 973 shares of the company’s stock valued at $28,000 after purchasing an additional 575 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in Millrose Properties during the first quarter worth approximately $27,000. Summit Securities Group LLC acquired a new stake in shares of Millrose Properties in the first quarter valued at approximately $28,000. William B. Walkup & Associates Inc. bought a new position in shares of Millrose Properties during the 1st quarter worth approximately $29,000. Finally, First Financial Corp IN acquired a new position in shares of Millrose Properties during the 2nd quarter worth approximately $32,000.

Millrose Properties Trading Down 0.3%

Shares of MRP stock opened at $31.00 on Wednesday. The stock has a market cap of $5.15 billion and a P/E ratio of 18.24. Millrose Properties, Inc. has a 1 year low of $19.00 and a 1 year high of $36.00. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34. The stock has a 50 day simple moving average of $31.62 and a 200 day simple moving average of $31.25.

Millrose Properties (NYSE:MRP) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate 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 disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Friday, October 3rd were given a dividend of $0.73 per share. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.69. This represents a $2.92 annualized dividend and a yield of 9.4%. The ex-dividend date of this dividend was Friday, October 3rd. Millrose Properties’s dividend payout ratio (DPR) is currently 171.76%.

Insiders Place Their Bets

In other news, Director Matthew B. Gorson bought 2,500 shares of the firm’s stock in a transaction on Wednesday, October 29th. The shares were purchased at an average cost of $32.69 per share, with a total value of $81,725.00. Following the acquisition, the director directly owned 18,160 shares in the company, valued at $593,650.40. This represents a 15.96% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carlos A. Migoya bought 1,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was purchased at an average price of $32.24 per share, with a total value of $32,240.00. Following the completion of the transaction, the director directly owned 16,766 shares in the company, valued at approximately $540,535.84. This represents a 6.34% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 11,476 shares of company stock worth $373,264 over the last ninety days.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MRP. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Millrose Properties in a report on Wednesday, October 8th. Citizens Jmp started coverage on shares of Millrose Properties in a report on Wednesday, October 8th. They set a “mkt outperform” rating and a $40.00 target price for the company. JMP Securities assumed coverage on Millrose Properties in a report on Wednesday, October 8th. They set a “market outperform” rating and a $40.00 price objective for the company. Citigroup lifted 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. Finally, BTIG Research initiated coverage on Millrose Properties in a report on Monday, December 1st. They issued a “buy” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $36.90.

About Millrose Properties

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.