Lecap Asset Management Ltd. Buys New Shares in Millrose Properties, Inc. $MRP

Lecap Asset Management Ltd. purchased a new stake in shares of Millrose Properties, Inc. (NYSE:MRP) during the fourth quarter, Holdings Channel reports. The fund purchased 17,926 shares of the company’s stock, valued at approximately $535,000.

A number of other large investors have also recently bought and sold shares of the business. Allianz Asset Management GmbH boosted its position in shares of Millrose Properties by 1,371.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 438,705 shares of the company’s stock valued at $14,745,000 after purchasing an additional 408,885 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in Millrose Properties in the third quarter worth approximately $6,029,000. Hodges Capital Management Inc. increased its holdings in Millrose Properties by 180.0% in the third quarter. Hodges Capital Management Inc. now owns 80,722 shares of the company’s stock worth $2,713,000 after purchasing an additional 51,892 shares in the last quarter. Gabelli Funds LLC lifted its stake in Millrose Properties by 34.9% in the third quarter. Gabelli Funds LLC now owns 524,366 shares of the company’s stock valued at $17,624,000 after buying an additional 135,523 shares during the period. Finally, First Dallas Securities Inc. lifted its stake in Millrose Properties by 62.0% in the third quarter. First Dallas Securities Inc. now owns 92,299 shares of the company’s stock valued at $3,102,000 after buying an additional 35,319 shares during the period.

Millrose Properties Stock Performance

Shares of MRP opened at $31.06 on Monday. Millrose Properties, Inc. has a one year low of $23.01 and a one year high of $36.00. The company has a market cap of $5.16 billion, a PE ratio of 12.73 and a beta of 0.34. The stock has a 50-day moving average of $29.92 and a 200-day moving average of $30.60. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.35 and a quick ratio of 0.35.

Millrose Properties (NYSE:MRP) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. The business had revenue of $189.50 million for the quarter. Millrose Properties had a return on equity of 6.90% and a net margin of 67.42%.

Millrose Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Friday, April 3rd were given a dividend of $0.76 per share. The ex-dividend date of this dividend 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 dividend yield of 9.8%. Millrose Properties’s payout ratio is currently 124.59%.

Insider Buying and Selling at Millrose Properties

In other news, Director Matthew B. Gorson bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were bought at an average cost of $30.66 per share, for a total transaction of $30,660.00. Following the acquisition, the director directly owned 25,611 shares in the company, valued at approximately $785,233.26. This trade represents a 4.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on MRP. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Millrose Properties in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of Millrose Properties from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $36.13.

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.