Vanguard Group Inc. Purchases Shares of 18,414,019 Millrose Properties, Inc. $MRP

Key Points

• Vanguard Group Inc. made a significant investment of $488.16 million in Millrose Properties, acquiring 18,414,019 shares and holding approximately 11.09% of the company.
• Goldman Sachs upgraded their target price for Millrose Properties from $28.00 to $31.50, assigning a "buy" rating in their latest research note.
• Millrose Properties announced a quarterly dividend of $0.69 per share, providing an annualized dividend yield of 8.7% for investors.

Vanguard Group Inc. acquired a new position in Millrose Properties, Inc. (NYSE:MRP - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,414,019 shares of the company's stock, valued at approximately $488,156,000. Vanguard Group Inc. owned 11.09% of Millrose Properties as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MRP. Greenhaven Associates Inc. bought a new position in shares of Millrose Properties in the 1st quarter valued at about $209,111,000. GAMMA Investing LLC bought a new stake in shares of Millrose Properties during the 1st quarter valued at $1,784,000. Asset Management Advisors LLC acquired a new position in shares of Millrose Properties in the 1st quarter valued at $721,000. Rhumbline Advisers acquired a new position in Millrose Properties in the first quarter valued at about $7,441,000. Finally, Merit Financial Group LLC acquired a new position in Millrose Properties in the first quarter valued at about $552,000.

Insider Activity

In other Millrose Properties news, CTO Adil Pasha bought 2,500 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was acquired at an average cost of $28.34 per share, with a total value of $70,850.00. Following the purchase, the chief technology officer owned 2,500 shares in the company, valued at $70,850. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Millrose Properties Stock Up 0.7%

NYSE:MRP traded up $0.21 during trading hours on Tuesday, hitting $32.02. The stock had a trading volume of 74,468 shares, compared to its average volume of 2,032,921. The firm has a 50 day moving average price of $29.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.06 and a current ratio of 0.06. Millrose Properties, Inc. has a one year low of $19.00 and a one year high of $32.60.

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

Millrose Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Thursday, July 3rd were given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 8.6%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group boosted their target price on Millrose Properties from $28.00 to $31.50 and gave the stock a "buy" rating in a research report on Thursday, May 15th.

Millrose Properties 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.