Millrose Properties, Inc. $MRP Shares Sold by Brave Warrior Advisors LLC

Key Points

• Brave Warrior Advisors cut its position in Millrose Properties by 31.6% in Q3, selling 2,486,098 shares and leaving 5,375,592 shares (about 3.24% of the company) valued at roughly $180.7 million, making MRP its 13th largest holding.
• Millrose raised its quarterly dividend to $0.75 (annualized $3.00), yielding 10.6%, but the payout ratio is elevated at 122.95%, which could raise questions about dividend sustainability.
• Institutional activity was mixed: Blue Whale and Wellington substantially increased stakes (+89.1% and +44.7%, respectively) while Goldman, Norges Bank and Two Sigma opened new positions, and a director purchased 1,000 shares at $30.66.

Brave Warrior Advisors LLC cut its position in Millrose Properties, Inc. (NYSE:MRP - Free Report) by 31.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,375,592 shares of the company's stock after selling 2,486,098 shares during the period. Millrose Properties makes up 4.2% of Brave Warrior Advisors LLC's holdings, making the stock its 13th largest position. Brave Warrior Advisors LLC owned approximately 3.24% of Millrose Properties worth $180,674,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Blue Whale Capital LLP lifted its holdings in shares of Millrose Properties by 89.1% during the third quarter. Blue Whale Capital LLP now owns 2,267,144 shares of the company's stock worth $76,199,000 after purchasing an additional 1,068,075 shares during the period. Wellington Management Group LLP increased its holdings in Millrose Properties by 44.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,939,771 shares of the company's stock worth $98,806,000 after buying an additional 908,189 shares during the period. Goldman Sachs Group Inc. purchased a new position in Millrose Properties during the 1st quarter worth approximately $18,093,000. Norges Bank purchased a new position in Millrose Properties during the 2nd quarter worth approximately $15,614,000. Finally, Two Sigma Investments LP acquired a new stake in Millrose Properties during the 3rd quarter valued at approximately $15,952,000.

Insider Buying and Selling

In other news, Director Matthew B. Gorson acquired 1,000 shares of the business's stock in a transaction on Thursday, March 5th. The stock was bought at an average price of $30.66 per share, with a total value of $30,660.00. Following the completion of the acquisition, the director owned 25,611 shares of the company's stock, valued at approximately $785,233.26. This represents a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Millrose Properties Trading Down 1.0%

Shares of NYSE:MRP opened at $28.28 on Friday. Millrose Properties, Inc. has a 12-month low of $21.28 and a 12-month high of $36.00. The company has a market capitalization of $4.69 billion and a PE ratio of 11.59. The business has a 50 day moving average of $30.50 and a two-hundred day moving average of $31.58. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.36.

Millrose Properties (NYSE:MRP - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The business had revenue of $189.50 million for the quarter. Millrose Properties had a return on equity of 6.90% and a net margin of 67.42%.

Millrose Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, January 5th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 10.6%. This is a boost from Millrose Properties's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, January 5th. Millrose Properties's payout ratio is currently 122.95%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. BTIG Research started coverage on shares of Millrose Properties in a report on Monday, December 1st. They issued a "buy" rating and a $35.00 price objective on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of Millrose Properties in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Millrose Properties has a consensus rating of "Buy" and a consensus target price of $36.13.

Millrose Properties 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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