Redmont Wealth Advisors LLC Makes New $1.04 Million Investment in Millrose Properties, Inc. $MRP

Redmont Wealth Advisors LLC bought a new stake in Millrose Properties, Inc. (NYSE:MRP) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 30,842 shares of the company’s stock, valued at approximately $1,037,000. Millrose Properties accounts for approximately 1.4% of Redmont Wealth Advisors LLC’s investment portfolio, making the stock its 17th largest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in shares of Millrose Properties by 8.7% in 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 in the last quarter. Geode Capital Management LLC lifted its stake in Millrose Properties by 2.1% in the second quarter. Geode Capital Management LLC now owns 2,208,793 shares of the company’s stock valued at $62,983,000 after acquiring an additional 44,506 shares during the last quarter. Principal Financial Group Inc. grew its position in Millrose Properties by 0.4% in the third quarter. Principal Financial Group Inc. now owns 1,790,629 shares of the company’s stock worth $60,183,000 after acquiring an additional 7,041 shares in the last quarter. Moore Capital Management LP increased its stake in shares of Millrose Properties by 12.3% during the 2nd quarter. Moore Capital Management LP now owns 1,258,936 shares of the company’s stock worth $35,892,000 after purchasing an additional 137,843 shares during the last quarter. Finally, Blue Whale Capital LLP raised its holdings in shares of Millrose Properties by 103.2% during the 2nd quarter. Blue Whale Capital LLP now owns 1,199,069 shares of the company’s stock valued at $34,185,000 after purchasing an additional 609,083 shares in the last quarter.

Millrose Properties Trading Down 0.3%

Millrose Properties stock opened at $31.42 on Thursday. 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 $5.22 billion and a PE ratio of 18.48. The business’s 50-day simple moving average is $30.45 and its 200-day simple moving average is $31.81.

Millrose Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, January 5th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 9.5%. This is a boost from Millrose Properties’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, January 5th. Millrose Properties’s dividend payout ratio is presently 176.47%.

Analysts Set New Price Targets

MRP has been the topic of several analyst reports. Citigroup increased their target price on shares of Millrose Properties from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. BTIG Research initiated coverage on Millrose Properties in a report on Monday, December 1st. They issued a “buy” rating and a $35.00 target price for the company. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Millrose Properties in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Millrose Properties presently has a consensus rating of “Buy” and an average target price of $36.13.

About Millrose Properties

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.