355,000 Shares in Millrose Properties, Inc. $MRP Purchased by 683 Capital Management LLC

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 bought a new stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 355,000 shares of the company's stock, valued at approximately $9,411,000. 683 Capital Management LLC owned about 0.21% of Millrose Properties as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new stake in shares of Millrose Properties in the first quarter valued at approximately $488,156,000. Brave Warrior Advisors LLC acquired a new position in Millrose Properties during the 1st quarter valued at $210,988,000. Greenhaven Associates Inc. bought a new stake in Millrose Properties in the 1st quarter valued at $209,111,000. The Manufacturers Life Insurance Company bought a new stake in Millrose Properties in the 1st quarter valued at $84,773,000. Finally, Wellington Management Group LLP acquired a new stake in Millrose Properties in the 1st quarter worth $75,729,000.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upped their price objective 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 investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $30.75.

Millrose Properties Trading Down 0.4%

MRP opened at $35.35 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.06 and a current ratio of 0.06. The business's fifty day simple moving average is $31.02. Millrose Properties, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $36.00.

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 (EPS) for the quarter. The business had revenue of $149.00 million during the quarter.

Millrose Properties Announces Dividend

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

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