2,000,000 Shares in Millrose Properties, Inc. $MRP Acquired by Newtyn Management LLC

Key Points

• Newtyn Management LLC acquired 2,000,000 shares of Millrose Properties, Inc. valued at approximately $53 million, making it the firm's third largest holding.
• Several institutional investors, including Vanguard Group and Brave Warrior Advisors, also bought significant stakes in Millrose Properties during the first quarter, with total investments nearing $1 billion.
• Millrose Properties reported a quarterly dividend of $0.69, translating to an annualized yield of 8.1%, along with a recent EPS of $0.68 and revenue of $149 million.

Newtyn Management LLC acquired a new position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,000,000 shares of the company's stock, valued at approximately $53,020,000. Millrose Properties makes up about 8.4% of Newtyn Management LLC's investment portfolio, making the stock its 3rd biggest position. Newtyn Management LLC owned 1.20% of Millrose Properties at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MRP. Greenhaven Associates Inc. acquired a new position in shares of Millrose Properties during the first quarter worth about $209,111,000. GAMMA Investing LLC acquired a new position in shares of Millrose Properties during the first quarter worth about $1,784,000. Asset Management Advisors LLC acquired a new position in shares of Millrose Properties during the first quarter worth about $721,000. Rhumbline Advisers acquired a new position in shares of Millrose Properties during the first quarter worth about $7,441,000. Finally, Merit Financial Group LLC acquired a new position in shares of Millrose Properties during the first quarter worth about $552,000.

Wall Street Analyst Weigh In

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

Millrose Properties Price Performance

Millrose Properties stock traded up $0.23 during midday trading on Wednesday, hitting $35.23. The stock had a trading volume of 201,155 shares, compared to its average volume of 1,939,862. 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 12 month low of $19.00 and a 12 month high of $36.00. The business has a fifty day moving average price of $31.73 and a 200 day moving average price of $27.72.

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

Millrose Properties Announces Dividend

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

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.