Allianz Asset Management GmbH Sells 8,572 Shares of Millrose Properties, Inc. $MRP

Allianz Asset Management GmbH trimmed its stake in shares of Millrose Properties, Inc. (NYSE:MRP) by 22.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 29,820 shares of the company’s stock after selling 8,572 shares during the quarter. Allianz Asset Management GmbH’s holdings in Millrose Properties were worth $850,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of research firms have recently commented on MRP. Weiss Ratings reissued a “hold (c+)” rating on shares of Millrose Properties in a report on Saturday. Citizens Jmp started coverage on shares of Millrose Properties in a research note on Wednesday, October 8th. They set a “mkt outperform” rating and a $40.00 target price on the stock. Citigroup started coverage on shares of Millrose Properties in a research note on Wednesday, October 8th. They set an “outperform” rating on the stock. Finally, JMP Securities started coverage on shares of Millrose Properties in a research note on Wednesday, October 8th. They set a “market outperform” rating and a $40.00 target price on the stock. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Millrose Properties presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.38.

Millrose Properties Price Performance

Shares of MRP opened at $32.40 on Monday. Millrose Properties, Inc. has a 12-month low of $19.00 and a 12-month high of $36.00. The business has a 50-day simple moving average of $33.63 and a two-hundred day simple moving average of $29.96. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.34. The stock has a market cap of $5.38 billion and a PE ratio of 30.28.

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

Millrose Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Friday, October 3rd were paid a $0.73 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.69. This represents a $2.92 annualized dividend and a dividend yield of 9.0%. Millrose Properties’s payout ratio is currently 272.90%.

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.