KDT Advisors LLC Invests $602,000 in Millrose Properties, Inc. $MRP

Key Points

• KDT Advisors LLC has purchased a new position in Millrose Properties, Inc., acquiring 22,699 shares valued at approximately $602,000.
• The company recently announced a quarterly dividend of $0.69 per share, yielding 8.1% annually.
• Goldman Sachs has raised its target price on Millrose Properties to $31.50 with a "buy" rating, indicating positive sentiment from analysts.

KDT Advisors 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 Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,699 shares of the company's stock, valued at approximately $602,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Gotham Asset Management LLC purchased a new stake in Millrose Properties in the first quarter valued at $17,067,000. Hawk Ridge Capital Management LP purchased a new stake in Millrose Properties in the first quarter valued at $7,610,000. AQR Capital Management LLC purchased a new stake in Millrose Properties in the first quarter valued at $48,429,000. Advisors Asset Management Inc. purchased a new stake in Millrose Properties in the first quarter valued at $45,000. Finally, Ancora Advisors LLC purchased a new stake in Millrose Properties in the first quarter valued at $3,359,000.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lifted their target price on 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 data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $30.75.

Millrose Properties Price Performance

NYSE MRP traded up $0.69 during trading hours on Tuesday, hitting $34.97. 1,037,027 shares of the company were exchanged, compared to its average volume of 1,951,700. The company has a 50 day moving average of $31.60 and a two-hundred day moving average of $27.67. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.06 and a quick ratio of 0.06. Millrose Properties, Inc. has a 52-week low of $19.00 and a 52-week high of $36.00.

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

Millrose Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 7.9%.

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.