683 Capital Management LLC Reduces Stock Holdings in Millrose Properties, Inc. $MRP

683 Capital Management LLC cut its stake in shares of Millrose Properties, Inc. (NYSE:MRP) by 14.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 303,800 shares of the company’s stock after selling 51,200 shares during the period. 683 Capital Management LLC owned approximately 0.18% of Millrose Properties worth $8,661,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. acquired a new position in shares of Millrose Properties during the first quarter worth $488,156,000. Brave Warrior Advisors LLC acquired a new position in Millrose Properties in the 1st quarter worth $210,988,000. State Street Corp boosted its position in Millrose Properties by 8.7% in the 2nd quarter. State Street Corp now owns 4,173,660 shares of the company’s stock valued at $118,991,000 after buying an additional 333,686 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Millrose Properties during the first quarter valued at about $84,773,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Millrose Properties during the first quarter valued at about $75,729,000.

Millrose Properties Stock Performance

Shares of MRP opened at $31.66 on Friday. The stock has a market capitalization of $5.26 billion and a PE ratio of 18.62. The business’s fifty day moving average price is $31.56 and its 200 day moving average price is $31.29. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.46 and a quick ratio of 0.46. Millrose Properties, Inc. has a 12-month low of $19.00 and a 12-month high of $36.00.

Millrose Properties (NYSE:MRP) last released its earnings results on Thursday, October 23rd. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $179.26 million for the quarter.

Millrose Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Friday, October 3rd were paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 9.2%. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.69. The ex-dividend date was Friday, October 3rd. Millrose Properties’s dividend payout ratio (DPR) is currently 171.76%.

Analysts Set New Price Targets

A number of research analysts recently commented on MRP shares. BTIG Research began coverage on Millrose Properties in a report on Monday, December 1st. They issued a “buy” rating and a $35.00 price target for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Millrose Properties in a research note on Wednesday, October 8th. Citizens Jmp initiated coverage on shares of Millrose Properties in a research note on Wednesday, October 8th. They issued a “mkt outperform” rating and a $40.00 price target for the company. Citigroup upped their price target on shares of Millrose Properties from $34.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, JMP Securities assumed coverage on shares of Millrose Properties in a report on Wednesday, October 8th. They set a “market outperform” rating and a $40.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Millrose Properties has a consensus rating of “Buy” and a consensus target price of $36.90.

Insiders Place Their Bets

In related news, Director Carlos A. Migoya purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were acquired at an average price of $32.24 per share, with a total value of $32,240.00. Following the acquisition, the director owned 16,766 shares in the company, valued at approximately $540,535.84. This trade represents a 6.34% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew B. Gorson acquired 2,500 shares of Millrose Properties stock in a transaction that occurred on Wednesday, October 29th. The shares were bought at an average price of $32.69 per share, with a total value of $81,725.00. Following the transaction, the director directly owned 18,160 shares in the company, valued at approximately $593,650.40. This trade represents a 15.96% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 11,476 shares of company stock valued at $373,264 over the last quarter.

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.