Lyell Wealth Management LP Sells 14,182 Shares of Millrose Properties, Inc. $MRP

Key Points

• Lyell Wealth Management LP has reduced its stake in Millrose Properties by 35.4% in the second quarter, selling 14,182 shares, leaving it with 25,877 shares valued at approximately $738,000.
• Millrose Properties recently declared a quarterly dividend of $0.73 per share, up from $0.69, resulting in an annual yield of 8.9%.
• Several analysts have initiated coverage on Millrose Properties, with JMP Securities setting a $40.00 price target and issuing a "market outperform" rating.

Lyell Wealth Management LP decreased its holdings in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) by 35.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,877 shares of the company's stock after selling 14,182 shares during the quarter. Lyell Wealth Management LP's holdings in Millrose Properties were worth $738,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MRP. Northwestern Mutual Wealth Management Co. bought a new stake in Millrose Properties in the 1st quarter worth approximately $27,000. Summit Securities Group LLC purchased a new stake in Millrose Properties in the first quarter worth $28,000. MassMutual Private Wealth & Trust FSB grew its stake in Millrose Properties by 144.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 973 shares of the company's stock worth $28,000 after purchasing an additional 575 shares during the period. William B. Walkup & Associates Inc. purchased a new stake in shares of Millrose Properties in the first quarter worth $29,000. Finally, First Financial Corp IN purchased a new stake in shares of Millrose Properties in the second quarter worth $32,000.

Millrose Properties Stock Up 0.5%

Shares of NYSE:MRP opened at $32.86 on Tuesday. The business's 50-day moving average is $33.56 and its 200 day moving average is $29.69. Millrose Properties, Inc. has a 1 year low of $19.00 and a 1 year high of $36.00. 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 (NYSE:MRP - Get Free Report) last posted its quarterly 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 for the quarter.

Millrose Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Friday, October 3rd were paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 8.9%. The ex-dividend date was Friday, October 3rd. This is a boost from Millrose Properties's previous quarterly dividend of $0.69.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MRP shares. JMP Securities assumed coverage on Millrose Properties in a report on Wednesday, October 8th. They set a "market outperform" rating and a $40.00 price target on the stock. Citigroup began coverage on Millrose Properties in a research report on Wednesday, October 8th. They issued an "outperform" rating for the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of Millrose Properties in a research report on Wednesday, October 8th. Finally, Citizens Jmp initiated coverage on shares of Millrose Properties in a research report on Wednesday, October 8th. They set a "mkt outperform" rating and a $40.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $35.38.

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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