Lyell Wealth Management LP Lowers Holdings in Millrose Properties, Inc. $MRP

Lyell Wealth Management LP decreased its stake in Millrose Properties, Inc. (NYSE:MRP) by 35.4% during the second quarter, Holdings Channel reports. The institutional investor owned 25,877 shares of the company’s stock after selling 14,182 shares during the quarter. Lyell Wealth Management LP’s holdings in Millrose Properties were worth $738,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. acquired a new position in Millrose Properties in the 1st quarter worth about $488,156,000. Brave Warrior Advisors LLC acquired a new position in Millrose Properties in the 1st quarter worth about $210,988,000. The Manufacturers Life Insurance Company acquired a new position in Millrose Properties in the 1st quarter worth about $84,773,000. Wellington Management Group LLP acquired a new position in Millrose Properties in the 1st quarter worth about $75,729,000. Finally, Newtyn Management LLC acquired a new position in Millrose Properties in the 1st quarter worth about $53,020,000.

Wall Street Analysts Forecast Growth

MRP has been the subject of a number of analyst reports. JMP Securities initiated coverage on Millrose Properties in a report on Wednesday, October 8th. They issued a “market outperform” rating and a $40.00 price target for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Millrose Properties in a report on Wednesday, October 8th. Citigroup began coverage on Millrose Properties in a report on Wednesday, October 8th. They issued an “outperform” rating for the company. Finally, Citizens Jmp began coverage on Millrose Properties in a research report on Wednesday, October 8th. They issued a “mkt outperform” rating and a $40.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Millrose Properties currently has a consensus rating of “Moderate Buy” and an average price target of $35.38.

Millrose Properties Trading Up 0.5%

MRP stock opened at $32.86 on Tuesday. The business has a fifty day moving average of $33.56 and a two-hundred day moving average of $29.69. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.06 and a quick ratio of 0.06. Millrose Properties, Inc. has a 52-week low of $19.00 and a 52-week high of $36.00.

Millrose Properties (NYSE:MRP) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.68 EPS for the quarter. The firm had revenue of $149.00 million for the quarter.

Millrose Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Friday, October 3rd were given a dividend of $0.73 per share. This is an increase from Millrose Properties’s previous quarterly dividend of $0.69. This represents a $2.92 annualized dividend and a dividend yield of 8.9%. The ex-dividend date was Friday, October 3rd.

Millrose Properties 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.