Pacific Heights Asset Management LLC Acquires 200,000 Shares of Millrose Properties, Inc. $MRP

Pacific Heights Asset Management LLC increased its holdings in Millrose Properties, Inc. (NYSE:MRP) by 40.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 700,000 shares of the company’s stock after acquiring an additional 200,000 shares during the period. Pacific Heights Asset Management LLC owned about 0.42% of Millrose Properties worth $20,909,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Thrivent Financial for Lutherans grew its holdings in shares of Millrose Properties by 34.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 726,605 shares of the company’s stock valued at $21,703,000 after acquiring an additional 187,243 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Millrose Properties by 30.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 35,300 shares of the company’s stock valued at $1,054,000 after acquiring an additional 8,200 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Millrose Properties during the fourth quarter valued at $751,000. Bailard Inc. bought a new position in Millrose Properties during the fourth quarter valued at $663,000. Finally, Manning & Napier Advisors LLC bought a new position in Millrose Properties during the fourth quarter valued at $2,514,000.

Insiders Place Their Bets

In related news, insider Darren Richman purchased 195,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $27.31 per share, with a total value of $5,325,450.00. Following the completion of the acquisition, the insider directly owned 416,000 shares of the company’s stock, valued at approximately $11,360,960. The trade was a 88.24% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew B. Gorson purchased 1,000 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was bought at an average cost of $30.66 per share, with a total value of $30,660.00. Following the completion of the acquisition, the director directly owned 25,611 shares of the company’s stock, valued at approximately $785,233.26. This trade represents a 4.06% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 237,032 shares of company stock valued at $6,476,388 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Millrose Properties Price Performance

Shares of NYSE MRP opened at $26.72 on Monday. The stock has a fifty day simple moving average of $29.12 and a two-hundred day simple moving average of $30.18. Millrose Properties, Inc. has a 1-year low of $26.30 and a 1-year high of $36.00. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 9.58 and a beta of 0.59. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.41.

Millrose Properties (NYSE:MRP) last announced its quarterly earnings data 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. Millrose Properties’s revenue for the quarter was up 135.7% compared to the same quarter last year.

Millrose Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Friday, April 3rd were issued a $0.76 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This is an increase 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 11.4%. Millrose Properties’s dividend payout ratio is 108.96%.

Wall Street Analysts Forecast Growth

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

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.