The Manufacturers Life Insurance Company Reduces Stock Position in Millrose Properties, Inc. $MRP

The Manufacturers Life Insurance Company cut its stake in Millrose Properties, Inc. (NYSE:MRP) by 3.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,302,950 shares of the company’s stock after selling 170,619 shares during the quarter. The Manufacturers Life Insurance Company owned 2.79% of Millrose Properties worth $120,483,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MRP. Vanguard Group Inc. lifted its position in Millrose Properties by 16.3% during the fourth quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company’s stock valued at $630,769,000 after purchasing an additional 2,960,066 shares during the period. State Street Corp boosted its holdings in Millrose Properties by 23.0% in the fourth quarter. State Street Corp now owns 5,080,719 shares of the company’s stock worth $151,761,000 after purchasing an additional 950,421 shares during the last quarter. Permian Investment Partners LP grew its position in Millrose Properties by 116.4% in the 4th quarter. Permian Investment Partners LP now owns 3,794,312 shares of the company’s stock worth $113,336,000 after purchasing an additional 2,040,900 shares during the period. Cannell & Spears LLC grew its position in Millrose Properties by 1.4% in the 1st quarter. Cannell & Spears LLC now owns 3,677,754 shares of the company’s stock worth $102,723,000 after purchasing an additional 49,702 shares during the period. Finally, Norges Bank purchased a new stake in Millrose Properties during the 4th quarter valued at $101,800,000.

Millrose Properties Price Performance

Shares of NYSE:MRP opened at $28.56 on Wednesday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $4.40 billion, a PE ratio of 10.24 and a beta of 0.34. The firm’s 50 day moving average price is $28.69 and its 200-day moving average price is $29.40. Millrose Properties, Inc. has a twelve month low of $26.30 and a twelve month high of $36.00.

Millrose Properties (NYSE:MRP) last announced its earnings results on Wednesday, May 6th. The company reported $0.74 earnings per share (EPS) 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 business 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th were paid a dividend of $0.77 per share. The ex-dividend date was Monday, July 6th. This represents a $3.08 annualized dividend and a dividend yield of 10.8%. This is a boost from Millrose Properties’s previous quarterly dividend of $0.76. Millrose Properties’s dividend payout ratio is 110.39%.

Insiders Place Their Bets

In related news, insider Darren Richman bought 40,000 shares of the firm’s stock in a transaction that occurred 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 owned 84,000 shares in the company, valued at $2,294,040. This trade represents a 90.91% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew B. Gorson bought 4,500 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was bought at an average cost of $26.96 per share, for a total transaction of $121,320.00. Following the completion of the acquisition, the director owned 35,750 shares in the company, valued at $963,820. This trade represents a 14.40% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 240,532 shares of company stock valued at $6,567,048. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

MRP has been the topic of several research analyst reports. Wall Street Zen cut Millrose Properties from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings lowered Millrose Properties from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. One equities 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 stock. Based on data from MarketBeat, Millrose Properties currently has an average rating of “Buy” and a consensus price target 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.