HighTower Advisors LLC Makes New Investment in Millrose Properties, Inc. $MRP

Key Points

• HighTower Advisors LLC acquired 10,689 shares of Millrose Properties, Inc. (NYSE:MRP) valued at approximately $283,000 during the first quarter.
• Several institutional investors, including Vanguard Group Inc. and Greenhaven Associates Inc., also made significant investments in Millrose Properties in Q1, illustrating growing interest in the company's stock.
• Goldman Sachs raised Millrose Properties' price target from $28.00 to $31.50, while the stock currently has an average rating of "Buy" and a consensus target price of $30.75.

HighTower Advisors LLC bought a new position in Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,689 shares of the company's stock, valued at approximately $283,000.

Several other institutional investors have also recently made changes to their positions in MRP. Vanguard Group Inc. bought a new stake in shares of Millrose Properties in the first quarter valued at about $488,156,000. Greenhaven Associates Inc. bought a new stake in shares of Millrose Properties in the first quarter valued at about $209,111,000. Principal Financial Group Inc. bought a new stake in shares of Millrose Properties in the first quarter valued at about $47,574,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Millrose Properties in the first quarter valued at about $44,741,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Millrose Properties in the first quarter valued at about $16,753,000.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lifted 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 analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $30.75.

Millrose Properties Stock Performance

Shares of MRP opened at $34.07 on Wednesday. Millrose Properties, Inc. has a twelve month low of $19.00 and a twelve month high of $36.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.06 and a quick ratio of 0.06. The company has a 50 day moving average price of $31.12.

Millrose Properties (NYSE:MRP - Get Free Report) last announced its earnings results 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders 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 dividend yield of 8.1%.

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.

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