Pacific Heights Asset Management LLC lifted its stake in Millrose Properties, Inc. (NYSE:MRP – Free Report) by 40.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 700,000 shares of the company’s stock after purchasing an additional 200,000 shares during the period. Pacific Heights Asset Management LLC’s holdings in Millrose Properties were worth $20,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently made changes to their positions in the stock. Sound Income Strategies LLC purchased a new stake in shares of Millrose Properties in the fourth quarter worth $29,000. Smartleaf Asset Management LLC raised its position in shares of Millrose Properties by 55.8% in the third quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock worth $34,000 after buying an additional 357 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Millrose Properties in the first quarter worth $39,000. Caitong International Asset Management Co. Ltd raised its position in shares of Millrose Properties by 984.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,323 shares of the company’s stock worth $44,000 after buying an additional 1,201 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Millrose Properties by 33.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,503 shares of the company’s stock worth $45,000 after buying an additional 380 shares in the last quarter.
Insider Transactions at Millrose Properties
In other news, insider Darren Richman purchased 40,000 shares of the stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $27.31 per share, for a total transaction of $1,092,400.00. Following the completion of the transaction, the insider directly owned 84,000 shares of the company’s stock, valued at approximately $2,294,040. This trade represents a 90.91% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Matthew B. Gorson purchased 1,000 shares of the stock in a transaction on Thursday, March 5th. The shares were purchased at an average price of $30.66 per share, for a total transaction of $30,660.00. Following the transaction, the director directly owned 25,611 shares of the company’s stock, valued at approximately $785,233.26. This represents a 4.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 237,032 shares of company stock worth $6,476,388 in the last 90 days. Company insiders own 0.23% of the company’s stock.
Millrose Properties Trading Up 0.0%
Millrose Properties (NYSE:MRP – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.03). Millrose Properties had a return on equity of 7.90% and a net margin of 64.96%.The business had revenue of $194.93 million during the quarter. The company’s quarterly revenue was up 135.7% on a year-over-year basis.
Millrose Properties Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Friday, April 3rd were given a dividend of $0.76 per share. The ex-dividend date was Thursday, April 2nd. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.75. This represents a $3.04 dividend on an annualized basis and a yield of 11.4%. Millrose Properties’s dividend payout ratio (DPR) is 108.96%.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the company. Weiss Ratings downgraded Millrose Properties from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wall Street Zen downgraded Millrose Properties from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $37.67.
Millrose Properties Company Profile
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.
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