Millrose Properties' (MRP) Hold (C+) Rating Reaffirmed at Weiss Ratings

Key Points

• Millrose Properties (MRP) had its "hold (C+)" rating reaffirmed by Weiss Ratings, amidst a range of analyst coverage updates that suggest a positive outlook, including a "market outperform" rating from JMP Securities.
• The stock has a consensus rating of "Moderate Buy" with an average price target of $35.38, while it traded at $32.33 recently, reflecting a 12-month range between $19.00 and $36.00.
• Significant institutional investments include a new stake from Vanguard Group Inc. valued at approximately $488 million, indicating strong interest in Millrose Properties among hedge funds.

Millrose Properties (NYSE:MRP - Get Free Report)'s stock had its "hold (c+)" rating restated by analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other research analysts have also weighed in on MRP. JMP Securities assumed coverage on shares of Millrose Properties in a research note on Wednesday. They issued a "market outperform" rating and a $40.00 price objective on the stock. Citigroup started coverage on shares of Millrose Properties in a report on Wednesday. They set an "outperform" rating on the stock. Finally, Citizens Jmp started coverage on shares of Millrose Properties in a research report on Wednesday. They set a "mkt outperform" rating and a $40.00 target price on the stock. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $35.38.

Millrose Properties Stock Performance

NYSE:MRP traded down $0.37 during trading hours on Wednesday, reaching $32.33. The company had a trading volume of 125,245 shares, compared to its average volume of 1,854,276. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.17. The business's 50-day simple moving average is $33.38 and its two-hundred day simple moving average is $29.31. Millrose Properties has a twelve month low of $19.00 and a twelve month high of $36.00.

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

Hedge Funds Weigh In On Millrose Properties

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. bought a new stake in shares of Millrose Properties in the 1st quarter worth approximately $488,156,000. Brave Warrior Advisors LLC bought a new stake in Millrose Properties during the 1st quarter valued at $210,988,000. State Street Corp raised its holdings in Millrose Properties by 8.7% during the 2nd quarter. State Street Corp now owns 4,173,660 shares of the company's stock valued at $118,991,000 after buying an additional 333,686 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Millrose Properties during the 1st quarter valued at $84,773,000. Finally, Wellington Management Group LLP bought a new stake in Millrose Properties during the 1st quarter valued at $75,729,000.

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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