LSV Asset Management Sells 31,959 Shares of Millrose Properties, Inc. $MRP

LSV Asset Management reduced its stake in shares of Millrose Properties, Inc. (NYSE:MRP) by 12.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,483 shares of the company’s stock after selling 31,959 shares during the quarter. LSV Asset Management owned about 0.13% of Millrose Properties worth $7,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Allianz Asset Management GmbH grew its holdings in shares of Millrose Properties by 1,371.2% in the third quarter. Allianz Asset Management GmbH now owns 438,705 shares of the company’s stock valued at $14,745,000 after purchasing an additional 408,885 shares in the last quarter. Great Lakes Advisors LLC bought a new position in Millrose Properties during the third quarter valued at $6,029,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Millrose Properties in the 2nd quarter worth $1,304,000. First Dallas Securities Inc. increased its holdings in shares of Millrose Properties by 62.0% in the 3rd quarter. First Dallas Securities Inc. now owns 92,299 shares of the company’s stock worth $3,102,000 after buying an additional 35,319 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Millrose Properties by 37.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 33,223 shares of the company’s stock valued at $947,000 after buying an additional 9,026 shares in the last quarter.

Millrose Properties Price Performance

Shares of MRP stock opened at $31.96 on Monday. The stock has a 50 day moving average price of $30.44 and a 200 day moving average price of $31.79. Millrose Properties, Inc. has a 52-week low of $21.02 and a 52-week high of $36.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a market capitalization of $5.31 billion and a P/E ratio of 18.80.

Millrose Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, January 5th were paid a dividend of $0.75 per share. This is an increase from Millrose Properties’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 9.4%. The ex-dividend date of this dividend was Monday, January 5th. Millrose Properties’s payout ratio is presently 176.47%.

Wall Street Analyst Weigh In

MRP has been the subject of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Millrose Properties in a research note on Thursday, January 22nd. Citigroup raised their price target on Millrose Properties from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, BTIG Research assumed coverage on shares of Millrose Properties in a research report on Monday, December 1st. They set a “buy” rating and a $35.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $36.90.

Millrose Properties Profile

Millrose Properties Corp is a publicly traded real estate investment trust that focuses on the acquisition, ownership and development of industrial and logistics properties. The company seeks to capitalize on the growing demand for modern warehouse facilities driven by e-commerce, freight distribution and last-mile delivery requirements. Millrose structures its investments to generate stable, long-term rental income through diversified lease agreements with industrial and logistics operators.

The firm’s core activities include sourcing strategically located industrial assets, overseeing property management operations and executing targeted development or renovation projects.