Redmont Wealth Advisors LLC Buys Shares of 30,842 Millrose Properties, Inc. $MRP

Redmont Wealth Advisors LLC purchased a new position in shares of Millrose Properties, Inc. (NYSE:MRP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 30,842 shares of the company’s stock, valued at approximately $1,037,000. Millrose Properties makes up approximately 1.4% of Redmont Wealth Advisors LLC’s holdings, making the stock its 17th biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC bought a new position in Millrose Properties during the 3rd quarter valued at $29,000. Smartleaf Asset Management LLC boosted its holdings in shares of Millrose Properties by 55.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock valued at $34,000 after buying an additional 357 shares during the period. Farther Finance Advisors LLC raised its stake in Millrose Properties by 95.0% during the third quarter. Farther Finance Advisors LLC now owns 1,123 shares of the company’s stock worth $38,000 after acquiring an additional 547 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of Millrose Properties during the 1st quarter worth approximately $39,000. Finally, Advisors Asset Management Inc. bought a new stake in Millrose Properties in the first quarter valued at $45,000.

Analyst Upgrades and Downgrades

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

Millrose Properties Price Performance

MRP stock opened at $31.42 on Thursday. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34. Millrose Properties, Inc. has a one year low of $21.02 and a one year high of $36.00. The firm has a market capitalization of $5.22 billion and a PE ratio of 18.48. The firm has a 50-day moving average of $30.45 and a two-hundred day moving average of $31.81.

Millrose Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, January 5th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 9.5%. The ex-dividend date was Monday, January 5th. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.73. Millrose Properties’s dividend payout ratio is presently 176.47%.

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.