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

Vanguard Group Inc. cut its stake in Millrose Properties, Inc. (NYSE:MRP) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,157,086 shares of the company’s stock after selling 437,761 shares during the period. Vanguard Group Inc. owned approximately 10.94% of Millrose Properties worth $610,260,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Salomon & Ludwin LLC acquired a new stake in shares of Millrose Properties in the 3rd quarter worth approximately $29,000. Smartleaf Asset Management LLC grew its stake in 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 acquiring an additional 357 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Millrose Properties by 95.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,123 shares of the company’s stock valued at $38,000 after acquiring an additional 547 shares in the last quarter. NewEdge Advisors LLC acquired a new position in Millrose Properties during the first quarter worth about $39,000. Finally, Advisors Asset Management Inc. acquired a new position in Millrose Properties during the first quarter worth about $45,000.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Millrose Properties in a research report on Thursday, January 22nd. BTIG Research started coverage on Millrose Properties in a research report on Monday, December 1st. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Citigroup increased their price objective on Millrose Properties from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Millrose Properties presently has a consensus rating of “Buy” and an average price target of $36.13.

Millrose Properties Price Performance

Shares of NYSE:MRP opened at $30.90 on Wednesday. The company has a market cap of $5.13 billion and a P/E ratio of 18.18. The business has a fifty day simple moving average of $30.40 and a 200-day simple moving average of $31.81. Millrose Properties, Inc. has a 52 week low of $21.02 and a 52 week high of $36.00. 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 Increases Dividend

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

About Millrose Properties

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.