Smead Capital Management Inc. Makes New $31.45 Million Investment in Millrose Properties, Inc. $MRP

Key Points

• Smead Capital Management Inc. acquired a new stake in Millrose Properties, purchasing 1,186,210 shares valued at approximately $31.4 million, making it the fund's 29th largest position.
• Millrose Properties recently declared a quarterly dividend of $0.69 per share, yielding 7.8% annually, indicating a solid return for investors.
• Analysts now have a consensus rating of "Buy" for Millrose Properties, with a target price raised from $28.00 to $31.50 by Goldman Sachs.

Smead Capital Management Inc. acquired a new position in Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,186,210 shares of the company's stock, valued at approximately $31,446,000. Millrose Properties accounts for 0.5% of Smead Capital Management Inc.'s portfolio, making the stock its 29th biggest holding. Smead Capital Management Inc. owned 0.71% of Millrose Properties as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Millrose Properties in the first quarter worth $425,000. Ieq Capital LLC acquired a new stake in Millrose Properties during the first quarter valued at $2,963,000. Gamco Investors INC. ET AL acquired a new stake in Millrose Properties during the first quarter valued at $7,011,000. Gabelli Funds LLC acquired a new stake in Millrose Properties during the first quarter valued at $6,462,000. Finally, North Ground Capital acquired a new stake in Millrose Properties during the first quarter valued at $8,045,000.

Millrose Properties Stock Performance

MRP traded down $0.15 during midday trading on Friday, hitting $35.35. 1,414,198 shares of the company traded hands, compared to its average volume of 1,043,933. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.17. Millrose Properties, Inc. has a 52-week low of $19.00 and a 52-week high of $36.00. The stock's 50 day moving average price is $30.87.

Millrose Properties (NYSE:MRP - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter. The company had revenue of $149.00 million for the quarter.

Millrose Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Thursday, July 3rd were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 7.8%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised their price target on shares of Millrose Properties from $28.00 to $31.50 and gave the company a "buy" rating in a research report on Thursday, May 15th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $30.75.

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.