Advisors Capital Management LLC Grows Stock Holdings in Millrose Properties, Inc. $MRP

Advisors Capital Management LLC boosted its stake in shares of Millrose Properties, Inc. (NYSE:MRP) by 17.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,233 shares of the company’s stock after acquiring an additional 4,275 shares during the quarter. Advisors Capital Management LLC’s holdings in Millrose Properties were worth $805,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. 683 Capital Management LLC acquired a new position in shares of Millrose Properties in the 1st quarter valued at $9,411,000. Blair William & Co. IL acquired a new stake in shares of Millrose Properties during the 1st quarter worth $351,000. Russell Investments Group Ltd. purchased a new position in shares of Millrose Properties in the 1st quarter worth $4,569,000. Hawk Ridge Capital Management LP acquired a new position in Millrose Properties in the first quarter valued at $7,610,000. Finally, Fractal Investments LLC acquired a new position in Millrose Properties in the second quarter valued at $257,000.

Analyst Ratings Changes

Several brokerages have commented on MRP. Citizens Jmp started coverage on Millrose Properties in a research note on Wednesday, October 8th. They set a “mkt outperform” rating and a $40.00 price target for the company. Citigroup boosted their target price on Millrose Properties from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Millrose Properties in a report on Wednesday, October 8th. Finally, JMP Securities started coverage on shares of Millrose Properties in a research report on Wednesday, October 8th. They set a “market outperform” rating and a $40.00 price target on the stock. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.38.

Millrose Properties Stock Down 0.2%

Shares of Millrose Properties stock opened at $31.17 on Friday. Millrose Properties, Inc. has a 1-year low of $19.00 and a 1-year high of $36.00. The company has a market capitalization of $5.17 billion and a PE ratio of 18.33. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.46 and a quick ratio of 0.46. The business has a 50-day moving average of $32.92 and a 200-day moving average of $30.78.

Millrose Properties (NYSE:MRP) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The company had revenue of $179.26 million during the quarter.

Millrose Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Friday, October 3rd were issued a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.92 annualized dividend and a yield of 9.4%. This is an increase from Millrose Properties’s previous quarterly dividend of $0.69. Millrose Properties’s dividend payout ratio (DPR) is 171.76%.

Insider Transactions at Millrose Properties

In other news, Director Carlos A. Migoya acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was purchased at an average cost of $32.24 per share, with a total value of $32,240.00. Following the completion of the acquisition, the director directly owned 16,766 shares in the company, valued at $540,535.84. This represents a 6.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Patrick J. Bartels, Jr. acquired 7,500 shares of the business’s stock in a transaction on Tuesday, October 28th. The shares were purchased at an average price of $32.52 per share, for a total transaction of $243,900.00. Following the purchase, the director directly owned 30,660 shares of the company’s stock, valued at $997,063.20. This represents a 32.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders purchased 11,476 shares of company stock valued at $373,264.

Millrose Properties Company 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.