First Dallas Securities Inc. increased its holdings in shares of Millrose Properties, Inc. (NYSE:MRP – Free Report) by 21.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,389 shares of the company’s stock after acquiring an additional 20,090 shares during the quarter. Millrose Properties comprises 1.2% of First Dallas Securities Inc.’s investment portfolio, making the stock its 20th biggest position. First Dallas Securities Inc. owned about 0.07% of Millrose Properties worth $3,357,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cerity Partners LLC boosted its position in Millrose Properties by 17.8% during the fourth quarter. Cerity Partners LLC now owns 245,839 shares of the company’s stock worth $7,343,000 after acquiring an additional 37,062 shares during the last quarter. LPL Financial LLC boosted its position in Millrose Properties by 5.5% during the fourth quarter. LPL Financial LLC now owns 83,297 shares of the company’s stock worth $2,488,000 after acquiring an additional 4,327 shares during the last quarter. Franklin Resources Inc. boosted its position in Millrose Properties by 643.4% during the fourth quarter. Franklin Resources Inc. now owns 96,311 shares of the company’s stock worth $2,877,000 after acquiring an additional 83,356 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Millrose Properties by 9.5% during the fourth quarter. JPMorgan Chase & Co. now owns 334,065 shares of the company’s stock worth $9,979,000 after acquiring an additional 28,997 shares during the last quarter. Finally, 111 Capital acquired a new position in Millrose Properties during the fourth quarter worth about $339,000.
Millrose Properties Stock Performance
NYSE:MRP opened at $29.33 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 10.51 and a beta of 0.40. The company’s 50-day moving average is $28.71 and its two-hundred day moving average is $29.77. Millrose Properties, Inc. has a 1-year low of $26.30 and a 1-year high of $36.00.
Millrose Properties Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Friday, April 3rd were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 10.4%. The ex-dividend date was Thursday, April 2nd. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.75. Millrose Properties’s dividend payout ratio (DPR) is presently 108.96%.
Insider Activity at Millrose Properties
In related news, Director Matthew B. Gorson acquired 4,500 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were purchased at an average cost of $26.96 per share, for a total transaction of $121,320.00. Following the acquisition, the director owned 35,750 shares in the company, valued at $963,820. The trade was a 14.40% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Darren Richman acquired 195,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $27.31 per share, for a total transaction of $5,325,450.00. Following the completion of the acquisition, the insider owned 416,000 shares in the company, valued at approximately $11,360,960. The trade was a 88.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 240,532 shares of company stock worth $6,567,048. Company insiders own 0.23% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on MRP. Wall Street Zen lowered shares of Millrose Properties from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings lowered shares of Millrose Properties from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $37.67.
Check Out Our Latest Report on Millrose Properties
About Millrose Properties
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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