FJ Capital Management LLC Acquires 24,583 Shares of Millrose Properties, Inc. $MRP

FJ Capital Management LLC boosted its holdings in shares of Millrose Properties, Inc. (NYSE:MRPFree Report) by 83.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,978 shares of the company’s stock after buying an additional 24,583 shares during the quarter. FJ Capital Management LLC’s holdings in Millrose Properties were worth $1,612,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Millrose Properties by 16.3% during the fourth quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company’s stock valued at $630,769,000 after buying an additional 2,960,066 shares during the period. State Street Corp lifted its holdings in Millrose Properties by 23.0% during the fourth quarter. State Street Corp now owns 5,080,719 shares of the company’s stock valued at $151,761,000 after purchasing an additional 950,421 shares in the last quarter. Permian Investment Partners LP lifted its holdings in Millrose Properties by 116.4% during the fourth quarter. Permian Investment Partners LP now owns 3,794,312 shares of the company’s stock valued at $113,336,000 after purchasing an additional 2,040,900 shares in the last quarter. Norges Bank purchased a new position in Millrose Properties during the fourth quarter valued at approximately $101,800,000. Finally, Wellington Management Group LLP lifted its holdings in Millrose Properties by 44.7% during the third quarter. Wellington Management Group LLP now owns 2,939,771 shares of the company’s stock valued at $98,806,000 after purchasing an additional 908,189 shares in the last quarter.

Insider Buying and Selling at Millrose Properties

In related news, Director Matthew B. Gorson bought 4,500 shares of the stock in a transaction dated Monday, May 18th. The shares were purchased at an average price of $26.96 per share, with a total value of $121,320.00. Following the completion of the acquisition, the director owned 35,750 shares of the company’s stock, valued at $963,820. This represents a 14.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darren Richman bought 195,000 shares of the stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $27.31 per share, for a total transaction of $5,325,450.00. Following the acquisition, the insider directly owned 416,000 shares of the company’s stock, valued at approximately $11,360,960. This represents a 88.24% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 240,532 shares of company stock worth $6,567,048 in the last three months. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Weiss Ratings downgraded shares of Millrose Properties from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wall Street Zen downgraded shares of Millrose Properties from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $37.67.

Check Out Our Latest Analysis on Millrose Properties

Millrose Properties Price Performance

Shares of NYSE:MRP opened at $29.16 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.34 and a quick ratio of 0.34. Millrose Properties, Inc. has a 1-year low of $26.30 and a 1-year high of $36.00. The company has a market capitalization of $4.50 billion, a P/E ratio of 10.45 and a beta of 0.40. The firm’s 50 day simple moving average is $28.78 and its two-hundred day simple moving average is $29.76.

Millrose Properties (NYSE:MRPGet Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.03). Millrose Properties had a net margin of 64.96% and a return on equity of 7.90%. The firm had revenue of $194.93 million for the quarter. The company’s quarterly revenue was up 135.7% on a year-over-year basis.

Millrose Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Friday, April 3rd were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 10.4%. This is a boost from Millrose Properties’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, April 2nd. Millrose Properties’s payout ratio is presently 108.96%.

About Millrose Properties

(Free Report)

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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Institutional Ownership by Quarter for Millrose Properties (NYSE:MRP)

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