Intech Investment Management LLC Makes New $1.19 Million Investment in Millrose Properties, Inc. $MRP

Intech Investment Management LLC purchased a new position in Millrose Properties, Inc. (NYSE:MRP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 41,682 shares of the company’s stock, valued at approximately $1,188,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. MassMutual Private Wealth & Trust FSB grew its position in Millrose Properties by 144.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 973 shares of the company’s stock valued at $28,000 after buying an additional 575 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Millrose Properties in the 1st quarter worth approximately $27,000. Summit Securities Group LLC acquired a new stake in shares of Millrose Properties in the 1st quarter worth approximately $28,000. William B. Walkup & Associates Inc. bought a new position in shares of Millrose Properties in the first quarter valued at approximately $29,000. Finally, CVA Family Office LLC boosted its holdings in shares of Millrose Properties by 166.6% in the second quarter. CVA Family Office LLC now owns 1,749 shares of the company’s stock valued at $50,000 after acquiring an additional 1,093 shares in the last quarter.

Insider Buying and Selling

In related news, Director Carlos A. Migoya acquired 1,000 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were purchased at an average price of $32.24 per share, for a total transaction of $32,240.00. Following the acquisition, the director owned 16,766 shares in the company, valued at approximately $540,535.84. This represents a 6.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick J. Bartels, Jr. acquired 7,500 shares of Millrose Properties stock in a transaction on Tuesday, October 28th. The shares were purchased at an average cost of $32.52 per share, with a total value of $243,900.00. Following the completion of the purchase, the director directly owned 30,660 shares of the company’s stock, valued at approximately $997,063.20. This represents a 32.38% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 11,476 shares of company stock valued at $373,264.

Millrose Properties Trading Up 2.2%

Millrose Properties stock opened at $31.16 on Tuesday. The firm has a market cap of $5.17 billion and a price-to-earnings ratio of 18.33. Millrose Properties, Inc. has a 1 year low of $19.00 and a 1 year high of $36.00. The firm’s 50 day moving average price is $32.33 and its two-hundred day moving average price is $31.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.46 and a current ratio of 0.46.

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

Millrose Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Friday, October 3rd were given a $0.73 dividend. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.69. The ex-dividend date was Friday, October 3rd. This represents a $2.92 dividend on an annualized basis and a dividend yield of 9.4%. Millrose Properties’s dividend payout ratio is 171.76%.

Analysts Set New Price Targets

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

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.