Public Employees Retirement System of Ohio Makes New $6.57 Million Investment in Millrose Properties, Inc. $MRP

Public Employees Retirement System of Ohio acquired a new stake in Millrose Properties, Inc. (NYSE:MRP) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 218,761 shares of the company’s stock, valued at approximately $6,574,000.

A number of other institutional investors also recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in Millrose Properties by 7.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,928,856 shares of the company’s stock worth $57,615,000 after purchasing an additional 138,227 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in Millrose Properties in the 4th quarter valued at $2,514,000. Legal & General Group Plc increased its stake in shares of Millrose Properties by 12.3% in the 4th quarter. Legal & General Group Plc now owns 354,088 shares of the company’s stock valued at $10,577,000 after buying an additional 38,769 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Millrose Properties in the 1st quarter valued at $1,422,000. Finally, Swedbank AB acquired a new stake in shares of Millrose Properties in the 4th quarter valued at $664,000.

Millrose Properties Price Performance

Shares of MRP stock opened at $30.53 on Wednesday. The firm’s 50 day moving average price is $29.40 and its two-hundred day moving average price is $29.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.05 and a current ratio of 0.05. Millrose Properties, Inc. has a 52-week low of $26.30 and a 52-week high of $35.45. The stock has a market cap of $4.71 billion, a PE ratio of 10.64 and a beta of 0.41.

Millrose Properties (NYSE:MRP) last issued its earnings results on Tuesday, August 4th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.75 by $0.01. The company had revenue of $196.85 million during the quarter. Millrose Properties had a net margin of 62.60% and a return on equity of 8.13%.

Millrose Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, July 6th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 10.1%. This is a boost from Millrose Properties’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Monday, July 6th. Millrose Properties’s payout ratio is presently 107.32%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MRP. Weiss Ratings raised Millrose Properties from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. Wall Street Zen cut Millrose Properties from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $37.67.

Insider Transactions at Millrose Properties

In related news, Director Carlos A. Migoya acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average price of $29.18 per share, for a total transaction of $29,180.00. Following the completion of the acquisition, the director owned 30,075 shares of the company’s stock, valued at $877,588.50. This trade represents a 3.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Matthew B. Gorson bought 3,000 shares of the business’s stock in a transaction on Monday, August 10th. The stock was bought at an average cost of $28.80 per share, for a total transaction of $86,400.00. Following the purchase, the director directly owned 38,750 shares of the company’s stock, valued at approximately $1,116,000. This trade represents a 8.39% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.23% of the company’s stock.

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.