Choreo LLC Cuts Holdings in Millrose Properties, Inc. $MRP

Choreo LLC lessened its stake in Millrose Properties, Inc. (NYSE:MRP) by 56.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 14,956 shares of the company’s stock after selling 19,733 shares during the quarter. Choreo LLC’s holdings in Millrose Properties were worth $503,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Salomon & Ludwin LLC acquired a new stake in Millrose Properties in the third quarter valued at approximately $29,000. Smartleaf Asset Management LLC increased its position in shares of Millrose Properties by 55.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock valued at $34,000 after purchasing an additional 357 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Millrose Properties by 95.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,123 shares of the company’s stock worth $38,000 after purchasing an additional 547 shares during the last quarter. NewEdge Advisors LLC acquired a new position in shares of Millrose Properties during the first quarter worth $39,000. Finally, Advisors Asset Management Inc. purchased a new position in Millrose Properties in the first quarter valued at $45,000.

Millrose Properties Trading Down 1.2%

NYSE:MRP opened at $30.65 on Friday. The company has a market capitalization of $5.09 billion and a PE ratio of 12.56. Millrose Properties, Inc. has a 52-week low of $21.02 and a 52-week high of $36.00. The stock’s 50 day moving average price is $30.58 and its 200 day moving average price is $31.77. The company has a quick ratio of 0.46, a current ratio of 0.35 and a debt-to-equity ratio of 0.36.

Millrose Properties (NYSE:MRP) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. Millrose Properties had a return on equity of 6.90% and a net margin of 67.42%.The business had revenue of $189.50 million during the quarter.

Millrose Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, January 5th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 9.8%. The ex-dividend date was Monday, January 5th. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.73. Millrose Properties’s payout ratio is presently 122.95%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MRP. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Millrose Properties in a report on Thursday, January 22nd. BTIG Research initiated coverage on shares of Millrose Properties in a report on Monday, December 1st. They set a “buy” rating and a $35.00 price objective on the stock. One investment 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. According to data from MarketBeat.com, Millrose Properties currently has an average rating of “Buy” and a consensus target price of $36.13.

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.