Wellington Management Group LLP Makes New Investment in Millrose Properties, Inc. $MRP

Key Points

• Wellington Management Group LLP acquired a new position in Millrose Properties, Inc. by purchasing 2,856,625 shares worth approximately $75.7 million, making up about 1.72% of the company's total shares.
• Goldman Sachs raised the price target for Millrose Properties from $28.00 to $31.50 and gave it a "buy" rating, reflecting analyst optimism.
• Millrose Properties announced a quarterly dividend of $0.69, resulting in an annual yield of 8.0%, highlighting the company's commitment to returning value to shareholders.

Wellington Management Group LLP acquired a new position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,856,625 shares of the company's stock, valued at approximately $75,729,000. Wellington Management Group LLP owned about 1.72% of Millrose Properties as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MRP. Vanguard Group Inc. purchased a new stake in Millrose Properties during the 1st quarter worth approximately $488,156,000. Greenhaven Associates Inc. purchased a new stake in Millrose Properties during the 1st quarter worth approximately $209,111,000. Principal Financial Group Inc. purchased a new stake in Millrose Properties during the 1st quarter worth approximately $47,574,000. Charles Schwab Investment Management Inc. purchased a new stake in Millrose Properties during the 1st quarter worth approximately $44,741,000. Finally, Northern Trust Corp purchased a new stake in Millrose Properties during the 1st quarter worth approximately $22,992,000.

Millrose Properties Trading Up 1.6%

MRP stock traded up $0.55 during trading on Thursday, reaching $35.94. 237,190 shares of the company's stock were exchanged, compared to its average volume of 1,973,457. 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 1-year low of $19.00 and a 1-year high of $36.00. The company has a fifty day simple moving average of $30.59.

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 (EPS) for the quarter. The business had revenue of $149.00 million for the quarter.

Millrose Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 7.7%.

Analyst Ratings Changes

Separately, The Goldman Sachs Group boosted their price target on Millrose Properties from $28.00 to $31.50 and gave the company a "buy" rating in a report on Thursday, May 15th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $30.75.

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.