683 Capital Management LLC Makes New $9.41 Million Investment in Millrose Properties, Inc. $MRP

Key Points

• 683 Capital Management LLC purchased 355,000 shares of Millrose Properties, Inc. for approximately $9.4 million, representing about 0.21% ownership of the company.
• Millrose Properties received significant interest from other institutional investors, with notable new stakes from Vanguard Group Inc., valued at $488 million, and Brave Warrior Advisors LLC, valued at $210 million.
• Goldman Sachs raised its price target for Millrose Properties from $28 to $31.50, maintaining a "buy" rating, while the stock currently has an average target price of $30.75.

683 Capital Management LLC acquired a new stake 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 and Exchange Commission (SEC). The institutional investor acquired 355,000 shares of the company's stock, valued at approximately $9,411,000. 683 Capital Management LLC owned 0.21% of Millrose Properties as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. CENTRAL TRUST Co bought a new position in shares of Millrose Properties during the 1st quarter valued at approximately $27,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Millrose Properties in the 1st quarter worth about $27,000. Summit Securities Group LLC bought a new stake in Millrose Properties during the 1st quarter valued at about $28,000. William B. Walkup & Associates Inc. purchased a new position in Millrose Properties during the 1st quarter valued at about $29,000. Finally, Assetmark Inc. purchased a new position in Millrose Properties in the first quarter valued at about $34,000.

Millrose Properties Price Performance

MRP traded down $0.03 on Friday, reaching $34.20. 832,712 shares of the company's stock were exchanged, compared to its average volume of 1,082,744. Millrose Properties, Inc. has a twelve month low of $19.00 and a twelve month high of $36.00. The stock's fifty day moving average price is $31.49 and its 200-day moving average price is $27.62. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.06 and a current ratio of 0.06.

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

Millrose Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 8.1%.

Wall Street Analysts Forecast Growth

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