AQR Capital Management LLC Buys Shares of 1,839,302 Millrose Properties, Inc. $MRP

Key Points

• AQR Capital Management LLC has made a significant investment in Millrose Properties, acquiring approximately 1.84 million shares valued at about $48.43 million, representing 1.11% ownership of the company.
• Major institutional investors, including Vanguard Group Inc. and Brave Warrior Advisors LLC, have also invested heavily in Millrose Properties during the first quarter, signaling strong interest in the stock.
• Analysts have upgraded Millrose Properties with a buy rating and increased the price target from $28.00 to $31.50, reflecting positive sentiment about the company's performance and growth prospects.

AQR Capital Management LLC bought a new stake in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,839,302 shares of the company's stock, valued at approximately $48,429,000. AQR Capital Management LLC owned approximately 1.11% of Millrose Properties at the end of the most recent quarter.

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

Millrose Properties Stock Performance

Shares of MRP stock traded down $0.31 on Thursday, reaching $34.60. The company had a trading volume of 376,926 shares, compared to its average volume of 1,931,873. 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 one year low of $19.00 and a one year high of $36.00. The business's 50-day moving average is $31.85 and its 200 day moving average is $27.77.

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 during the quarter.

Millrose Properties Dividend Announcement

The company also recently disclosed 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 8.0%.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upped their price objective on shares of Millrose Properties from $28.00 to $31.50 and gave the stock 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, the stock presently has a consensus rating of "Buy" and an average price target of $30.75.

Millrose Properties Company 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.