Citigroup Inc. Sells 190,812 Shares of Millrose Properties, Inc. $MRP

Key Points

• Citigroup cut its stake in Millrose Properties by 77.2%, selling 190,812 shares and leaving it with 56,270 shares worth about $1.89 million at the end of the quarter.
• Millrose raised its quarterly dividend to $0.75 (annualized $3.00), yielding 10.1%, but the payout ratio is high at 122.95%, signaling potential sustainability risk.
• Analysts have an average rating of Buy with a mean target of $36.13; the company reported quarterly EPS of $0.74, in line with estimates, on revenue of $189.5 million.

Citigroup Inc. lowered its stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) by 77.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,270 shares of the company's stock after selling 190,812 shares during the period. Citigroup Inc.'s holdings in Millrose Properties were worth $1,891,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Baird Financial Group Inc. bought a new stake in Millrose Properties in the first quarter worth $224,000. Royal Bank of Canada purchased a new stake in shares of Millrose Properties in the first quarter worth $1,508,000. Advisors Asset Management Inc. bought a new position in shares of Millrose Properties during the first quarter valued at $45,000. NewEdge Advisors LLC bought a new position in shares of Millrose Properties during the first quarter valued at $39,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Millrose Properties in the 1st quarter worth about $18,093,000.

Millrose Properties Stock Performance

Shares of NYSE MRP opened at $29.81 on Monday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.36. The firm's 50-day moving average price is $30.57 and its 200-day moving average price is $31.74. Millrose Properties, Inc. has a 52-week low of $21.02 and a 52-week high of $36.00. The company has a market cap of $4.95 billion and a PE ratio of 12.22.

Millrose Properties (NYSE:MRP - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.74 earnings per share for the quarter, meeting analysts' consensus estimates of $0.74. Millrose Properties had a net margin of 67.42% and a return on equity of 6.90%. The company had revenue of $189.50 million for the quarter.

Millrose Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, January 5th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 10.1%. The ex-dividend date of this dividend was Monday, January 5th. This is a positive change from Millrose Properties's previous quarterly dividend of $0.73. Millrose Properties's payout ratio is currently 122.95%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MRP shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of Millrose Properties in a research note on Thursday, January 22nd. BTIG Research began coverage on shares of Millrose Properties in a report on Monday, December 1st. They issued a "buy" rating and a $35.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Millrose Properties currently has an average rating of "Buy" and an average target price of $36.13.

Millrose Properties Company Profile

Millrose Properties Corp is a publicly traded real estate investment trust that focuses on the acquisition, ownership and development of industrial and logistics properties. The company seeks to capitalize on the growing demand for modern warehouse facilities driven by e-commerce, freight distribution and last-mile delivery requirements. Millrose structures its investments to generate stable, long-term rental income through diversified lease agreements with industrial and logistics operators.

The firm's core activities include sourcing strategically located industrial assets, overseeing property management operations and executing targeted development or renovation projects.

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