The Manufacturers Life Insurance Company lowered its position in shares of Millrose Properties, Inc. (NYSE:MRP – Free Report) by 3.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 4,302,950 shares of the company’s stock after selling 170,619 shares during the period. The Manufacturers Life Insurance Company’s holdings in Millrose Properties were worth $120,483,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Baird Financial Group Inc. purchased a new stake in shares of Millrose Properties in the first quarter worth $224,000. Royal Bank of Canada purchased a new position in shares of Millrose Properties during the 1st quarter valued at $1,508,000. Advisors Asset Management Inc. purchased a new position in shares of Millrose Properties during the 1st quarter valued at $45,000. NewEdge Advisors LLC bought a new position in Millrose Properties in the 1st quarter worth $39,000. Finally, Goldman Sachs Group Inc. bought a new position in Millrose Properties in the 1st quarter worth $18,093,000.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. Wall Street Zen cut Millrose Properties from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings downgraded Millrose Properties from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. 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 data from MarketBeat, Millrose Properties currently has an average rating of “Buy” and a consensus target price of $37.67.
Millrose Properties Trading Up 0.5%
Shares of MRP opened at $28.56 on Wednesday. The firm has a market cap of $4.40 billion, a P/E ratio of 10.24 and a beta of 0.34. 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 50 day simple moving average of $28.69 and a two-hundred day simple moving average of $29.40.
Millrose Properties (NYSE:MRP – Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.03). Millrose Properties had a return on equity of 7.90% and a net margin of 64.96%.The company 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 business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, July 6th were issued a $0.77 dividend. The ex-dividend date was Monday, July 6th. This represents a $3.08 dividend on an annualized basis and a yield of 10.8%. This is an increase from Millrose Properties’s previous quarterly dividend of $0.76. Millrose Properties’s payout ratio is presently 110.39%.
Insider Buying and Selling at Millrose Properties
In related news, Director Matthew B. Gorson purchased 4,500 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were acquired at an average price of $26.96 per share, for a total transaction of $121,320.00. Following the purchase, the director directly owned 35,750 shares in the company, valued at $963,820. This trade represents a 14.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Darren Richman acquired 40,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $27.31 per share, with a total value of $1,092,400.00. Following the acquisition, the insider directly owned 84,000 shares in the company, valued at approximately $2,294,040. The trade was a 90.91% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 240,532 shares of company stock worth $6,567,048. Corporate insiders own 0.23% of the company’s stock.
Millrose Properties 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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