Third Avenue Management LLC Invests $2.14 Million in Millrose Properties, Inc. $MRP

Key Points

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Third Avenue Management LLC bought a new position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 80,890 shares of the company's stock, valued at approximately $2,144,000.

A number of other institutional investors have also made changes to their positions in MRP. Vanguard Group Inc. acquired a new position in shares of Millrose Properties during the first quarter worth $488,156,000. Greenhaven Associates Inc. acquired a new position in shares of Millrose Properties during the first quarter worth $209,111,000. Wellington Management Group LLP bought a new stake in shares of Millrose Properties in the first quarter worth $75,729,000. Principal Financial Group Inc. bought a new stake in shares of Millrose Properties in the first quarter worth $47,574,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Millrose Properties in the first quarter worth $44,741,000.

Millrose Properties Stock Performance

Shares of NYSE:MRP opened at $31.80 on Tuesday. 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 stock has a fifty day moving average of $29.70. Millrose Properties, Inc. has a 12-month low of $19.00 and a 12-month high of $32.60.

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

Millrose Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 8.7%.

Insiders Place Their Bets

In other Millrose Properties news, CTO Adil Pasha bought 2,500 shares of the stock in a transaction on Wednesday, May 21st. The stock was purchased at an average price of $28.34 per share, for a total transaction of $70,850.00. Following the completion of the purchase, the chief technology officer directly owned 2,500 shares in the company, valued at approximately $70,850. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group lifted 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.

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.

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