TD Asset Management Inc Cuts Stock Position in Millrose Properties, Inc. $MRP

Key Points

• TD Asset Management Inc reduced its stake in Millrose Properties, Inc. by 43.1% during the second quarter, owning 13,462 shares worth $384,000 after selling 10,181 shares.
• Millrose Properties announced an increase in its quarterly dividend to $0.73, yielding 8.9% annually, paid to shareholders on October 15th.
• Research firms, including JMP Securities and Citigroup, issued ratings for Millrose Properties, with targets as high as $40.00, indicating a Moderate Buy consensus for the stock.

TD Asset Management Inc lessened its stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) by 43.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,462 shares of the company's stock after selling 10,181 shares during the quarter. TD Asset Management Inc's holdings in Millrose Properties were worth $384,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 683 Capital Management LLC purchased a new stake in Millrose Properties in the 1st quarter worth $9,411,000. Bessemer Group Inc. purchased a new stake in shares of Millrose Properties during the first quarter worth $81,000. Blair William & Co. IL purchased a new stake in shares of Millrose Properties during the first quarter worth $351,000. Pacific Heights Asset Management LLC purchased a new stake in shares of Millrose Properties during the first quarter worth $8,748,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Millrose Properties during the first quarter worth $659,000.

Millrose Properties Trading Down 0.7%

Shares of MRP stock opened at $32.79 on Friday. The company's 50-day moving average price is $33.61 and its 200-day moving average price is $29.80. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.06 and a quick ratio of 0.06. Millrose Properties, Inc. has a twelve month low of $19.00 and a twelve month high of $36.00.

Millrose Properties (NYSE:MRP - Get Free Report) last announced 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 business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Friday, October 3rd were given a $0.73 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This is an increase from Millrose Properties's previous quarterly dividend of $0.69. This represents a $2.92 dividend on an annualized basis and a yield of 8.9%.

Wall Street Analysts Forecast Growth

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