Millrose Properties, Inc. $MRP Shares Sold by KBC Group NV

KBC Group NV lowered its stake in Millrose Properties, Inc. (NYSE:MRP) by 80.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,421 shares of the company’s stock after selling 30,811 shares during the period. KBC Group NV’s holdings in Millrose Properties were worth $212,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Hodges Capital Management Inc. acquired a new stake in shares of Millrose Properties during the second quarter worth about $822,000. First Dallas Securities Inc. purchased a new position in Millrose Properties during the 2nd quarter worth approximately $1,624,000. Allworth Financial LP lifted its stake in Millrose Properties by 245.6% during the 2nd quarter. Allworth Financial LP now owns 4,562 shares of the company’s stock valued at $130,000 after acquiring an additional 3,242 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Millrose Properties by 4.8% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 86,840 shares of the company’s stock valued at $2,476,000 after acquiring an additional 3,955 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its holdings in shares of Millrose Properties by 262.7% in the 2nd quarter. Penserra Capital Management LLC now owns 8,647 shares of the company’s stock valued at $246,000 after acquiring an additional 6,263 shares during the last quarter.

Insider Transactions at Millrose Properties

In related news, Director Carlos A. Migoya acquired 1,000 shares of Millrose Properties stock in a transaction on Wednesday, November 12th. The stock was bought at an average cost of $32.24 per share, for a total transaction of $32,240.00. Following the completion of the transaction, the director owned 16,766 shares of the company’s stock, valued at approximately $540,535.84. The trade was a 6.34% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew B. Gorson acquired 2,500 shares of the firm’s stock in a transaction on Wednesday, October 29th. The shares were bought at an average cost of $32.69 per share, for a total transaction of $81,725.00. Following the completion of the acquisition, the director owned 18,160 shares of the company’s stock, valued at approximately $593,650.40. This represents a 15.96% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 11,476 shares of company stock valued at $373,264 in the last three months.

Millrose Properties Trading Up 0.6%

MRP stock opened at $29.67 on Wednesday. The company’s 50-day simple moving average is $32.72 and its 200-day simple moving average is $30.88. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.34. Millrose Properties, Inc. has a 52-week low of $19.00 and a 52-week high of $36.00. The firm has a market cap of $4.92 billion and a P/E ratio of 17.45.

Millrose Properties (NYSE:MRP) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company had revenue of $179.26 million during the quarter.

Millrose Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Friday, October 3rd were paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 9.8%. The ex-dividend date of this dividend was Friday, October 3rd. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.69. Millrose Properties’s dividend payout ratio is currently 171.76%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MRP. Weiss Ratings restated a “hold (c+)” rating on shares of Millrose Properties in a research report on Wednesday, October 8th. Citizens Jmp assumed coverage on Millrose Properties in a report on Wednesday, October 8th. They issued a “mkt outperform” rating and a $40.00 price objective for the company. Citigroup raised their target price on Millrose Properties from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, JMP Securities initiated coverage on Millrose Properties in a research report on Wednesday, October 8th. They set a “market outperform” rating and a $40.00 price target for the company. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.38.

Millrose Properties Company Profile

Millrose Properties, Inc is a real estate investment and management company that focuses on acquiring, developing, and managing high-quality commercial properties. They are headquartered in Purchase, New York.