LPL Financial LLC Takes Position in Millrose Properties, Inc. $MRP

Key Points

• LPL Financial LLC acquired 59,230 shares of Millrose Properties, Inc., valued at approximately $1,570,000 in the 1st quarter, indicating growing institutional interest in the company.
• Goldman Sachs recently raised Millrose Properties' price target from $28.00 to $31.50 and gave the stock a "buy" rating, reflecting positive analyst sentiment.
• The company declared a quarterly dividend of $0.69 per share, resulting in an annualized yield of 8.3%, appealing to income-focused investors.

LPL Financial LLC bought a new stake in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 59,230 shares of the company's stock, valued at approximately $1,570,000.

A number of other large investors also recently modified their holdings of the company. Greenhaven Associates Inc. purchased a new position in shares of Millrose Properties during the 1st quarter valued at $209,111,000. Principal Financial Group Inc. purchased a new stake in Millrose Properties in the 1st quarter worth $47,574,000. Bank of New York Mellon Corp purchased a new stake in Millrose Properties in the 1st quarter worth $16,753,000. Pacific Heights Asset Management LLC purchased a new stake in Millrose Properties in the 1st quarter worth $8,748,000. Finally, Rhumbline Advisers purchased a new stake in Millrose Properties in the 1st quarter worth $7,441,000.

Millrose Properties Stock Up 0.7%

MRP stock traded up $0.25 during mid-day trading on Wednesday, hitting $35.42. The company had a trading volume of 626,165 shares, compared to its average volume of 1,020,717. The firm's 50-day moving average price is $30.59. 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 12-month low of $19.00 and a 12-month high of $35.46.

Millrose Properties (NYSE:MRP - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter. The business had revenue of $149.00 million for the quarter.

Millrose Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Thursday, July 3rd were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 7.8%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group boosted their price target on shares of Millrose Properties from $28.00 to $31.50 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $30.75.

About Millrose Properties

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.