M&T Bank Corp Raises Holdings in Millrose Properties, Inc. $MRP

M&T Bank Corp increased its position in Millrose Properties, Inc. (NYSE:MRP) by 607.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,237 shares of the company’s stock after buying an additional 37,988 shares during the quarter. M&T Bank Corp’s holdings in Millrose Properties were worth $1,321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. State Street Corp raised its position in shares of Millrose Properties by 8.7% in the 2nd quarter. State Street Corp now owns 4,173,660 shares of the company’s stock worth $118,991,000 after buying an additional 333,686 shares during the period. Wellington Management Group LLP raised its position in shares of Millrose Properties by 44.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,939,771 shares of the company’s stock worth $98,806,000 after buying an additional 908,189 shares during the period. Cannell & Spears LLC raised its position in shares of Millrose Properties by 1.0% in the 3rd quarter. Cannell & Spears LLC now owns 2,628,406 shares of the company’s stock worth $88,341,000 after buying an additional 25,151 shares during the period. Blue Whale Capital LLP raised its position in shares of Millrose Properties by 89.1% in the 3rd quarter. Blue Whale Capital LLP now owns 2,267,144 shares of the company’s stock worth $76,199,000 after buying an additional 1,068,075 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Millrose Properties by 0.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,790,629 shares of the company’s stock worth $60,183,000 after buying an additional 7,041 shares during the period.

Insider Activity

In other Millrose Properties news, Director Matthew B. Gorson bought 1,000 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were acquired at an average cost of $30.66 per share, with a total value of $30,660.00. Following the completion of the transaction, the director owned 25,611 shares in the company, valued at $785,233.26. The trade was a 4.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MRP. Wall Street Zen raised Millrose Properties from a “hold” rating to a “buy” rating in a research report on Saturday, April 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Millrose Properties in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $36.13.

Millrose Properties Stock Down 0.8%

Shares of NYSE MRP opened at $30.47 on Thursday. Millrose Properties, Inc. has a 1 year low of $24.60 and a 1 year high of $36.00. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 12.49 and a beta of 0.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.35 and a current ratio of 0.35. The stock’s 50-day simple moving average is $29.76 and its 200-day simple moving average is $30.52.

Millrose Properties (NYSE:MRP) last announced its earnings results on Thursday, February 26th. The company reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. Millrose Properties had a return on equity of 6.90% and a net margin of 67.42%.The business had revenue of $189.50 million for the quarter.

Millrose Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Friday, April 3rd were given a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This is a positive change 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 10.0%. Millrose Properties’s dividend payout ratio is presently 124.59%.

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.