Mitsubishi UFJ Asset Management Co. Ltd. Has $2.48 Million Position in Millrose Properties, Inc. $MRP

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Millrose Properties, Inc. (NYSE:MRP) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,840 shares of the company’s stock after acquiring an additional 3,955 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Millrose Properties were worth $2,476,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Millrose Properties in a report on Wednesday, October 8th. Citigroup boosted 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. Citizens Jmp initiated coverage on shares of Millrose Properties in a research note on Wednesday, October 8th. They set a “mkt outperform” rating and a $40.00 price target on the stock. Finally, JMP Securities started coverage on shares of Millrose Properties in a report on Wednesday, October 8th. They set a “market outperform” rating and a $40.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.38.

Millrose Properties Stock Down 1.8%

Shares of MRP stock opened at $31.22 on Friday. The stock’s 50 day simple moving average is $32.98 and its 200 day simple moving average is $30.70. Millrose Properties, Inc. has a twelve month low of $19.00 and a twelve month 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 company has a market capitalization of $5.18 billion and a price-to-earnings ratio of 18.37.

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

Millrose Properties Increases Dividend

The company 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. This represents a $2.92 dividend on an annualized basis and a yield of 9.4%. The ex-dividend date was Friday, October 3rd. This is a boost from Millrose Properties’s previous quarterly dividend of $0.69. Millrose Properties’s dividend payout ratio (DPR) is 171.76%.

Insiders Place Their Bets

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

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.