AQR Capital Management LLC Invests $48.43 Million in 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 purchased a new stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,839,302 shares of the company's stock, valued at approximately $48,429,000. AQR Capital Management LLC owned 1.11% of Millrose Properties as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. CENTRAL TRUST Co purchased a new stake in shares of Millrose Properties in the 1st quarter valued at approximately $27,000. Northwestern Mutual Wealth Management Co. acquired a new position in Millrose Properties during the first quarter valued at $27,000. Summit Securities Group LLC acquired a new stake in Millrose Properties during the 1st quarter worth about $28,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Millrose Properties in the first quarter worth approximately $29,000. Finally, Allworth Financial LP acquired a new stake in shares of Millrose Properties during the first quarter worth approximately $33,000.

Millrose Properties Trading Down 0.6%

NYSE MRP traded down $0.21 during trading on Friday, reaching $34.63. The company's stock had a trading volume of 813,300 shares, compared to its average volume of 1,031,480. 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 1-year low of $19.00 and a 1-year high of $36.00. The business has a 50-day moving average price of $32.12 and a 200-day moving average price of $27.93.

Millrose Properties (NYSE:MRP - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.68 EPS for the quarter. The business 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 given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 8.0%.

Analyst Ratings Changes

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