Millrose Properties, Inc. $MRP Stake Boosted by Penserra Capital Management LLC

Penserra Capital Management LLC grew its position in Millrose Properties, Inc. (NYSE:MRP) by 262.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,647 shares of the company’s stock after purchasing an additional 6,263 shares during the period. Penserra Capital Management LLC’s holdings in Millrose Properties were worth $246,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in MRP. Vanguard Group Inc. acquired a new position in Millrose Properties in the first quarter worth approximately $488,156,000. Brave Warrior Advisors LLC bought a new stake in Millrose Properties in the first quarter worth approximately $210,988,000. The Manufacturers Life Insurance Company bought a new stake in Millrose Properties in the first quarter worth approximately $84,773,000. Wellington Management Group LLP acquired a new position in shares of Millrose Properties during the 1st quarter worth $75,729,000. Finally, Newtyn Management LLC bought a new position in shares of Millrose Properties during the 1st quarter valued at $53,020,000.

Insider Activity

In other news, Director Patrick J. Bartels, Jr. bought 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The shares were acquired at an average cost of $32.52 per share, with a total value of $243,900.00. Following the completion of the transaction, the director directly owned 30,660 shares in the company, valued at $997,063.20. This represents a 32.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew B. Gorson purchased 2,500 shares of the business’s stock in a transaction on Wednesday, October 29th. The stock was purchased at an average cost of $32.69 per share, with a total value of $81,725.00. Following the acquisition, the director owned 18,160 shares in the company, valued at approximately $593,650.40. This represents a 15.96% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 10,476 shares of company stock valued at $341,024.

Millrose Properties Stock Down 1.0%

Shares of MRP stock opened at $31.85 on Thursday. Millrose Properties, Inc. has a 12 month low of $19.00 and a 12 month high of $36.00. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.34. The firm has a market cap of $5.29 billion and a PE ratio of 18.73. The stock has a 50 day moving average of $33.04 and a 200-day moving average of $30.69.

Millrose Properties (NYSE:MRP) last announced its earnings results on Thursday, October 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The company had revenue of $179.26 million for the quarter.

Millrose Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Friday, October 3rd were paid a $0.73 dividend. The ex-dividend date was Friday, October 3rd. This is a boost from Millrose Properties’s previous quarterly dividend of $0.69. This represents a $2.92 annualized dividend and a dividend yield of 9.2%. Millrose Properties’s dividend payout ratio is 171.76%.

Analyst Upgrades and Downgrades

MRP has been the topic of several recent research reports. Citizens Jmp began coverage on Millrose Properties in a report on Wednesday, October 8th. They set a “mkt outperform” rating and a $40.00 target price on the stock. JMP Securities initiated coverage on Millrose Properties in a report on Wednesday, October 8th. They set a “market outperform” rating and a $40.00 price objective on the stock. Citigroup boosted their target price on Millrose Properties from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Millrose Properties in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.38.

Millrose Properties 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.