Manning & Napier Advisors LLC Makes New Investment in Millrose Properties, Inc. $MRP

Manning & Napier Advisors LLC bought a new position in shares of Millrose Properties, Inc. (NYSE:MRP) during the fourth quarter, Holdings Channel.com reports. The firm bought 84,162 shares of the company’s stock, valued at approximately $2,514,000.

Several other hedge funds have also modified their holdings of MRP. Vanguard Group Inc. increased its holdings in shares of Millrose Properties by 16.3% in 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 in the last quarter. State Street Corp lifted its holdings in Millrose Properties by 8.7% during 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 in the last quarter. Wellington Management Group LLP boosted its position in Millrose Properties by 44.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,939,771 shares of the company’s stock valued at $98,806,000 after buying an additional 908,189 shares during the last quarter. Cannell & Spears LLC boosted its position in Millrose Properties by 1.0% in the 3rd quarter. Cannell & Spears LLC now owns 2,628,406 shares of the company’s stock valued at $88,341,000 after buying an additional 25,151 shares during the last quarter. Finally, Blue Whale Capital LLP increased its stake 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 valued at $76,199,000 after buying an additional 1,068,075 shares during the period.

Insider Buying and Selling at Millrose Properties

In other news, Director Matthew B. Gorson acquired 1,000 shares of Millrose Properties stock in a transaction that occurred on Thursday, March 5th. The shares were acquired at an average price of $30.66 per share, with a total value of $30,660.00. Following the purchase, the director directly owned 25,611 shares of the company’s stock, valued at $785,233.26. The trade was a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is owned by corporate insiders.

Millrose Properties Trading Up 0.3%

Shares of NYSE MRP opened at $26.98 on Friday. Millrose Properties, Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $36.00. The firm has a market capitalization of $4.16 billion, a P/E ratio of 9.67 and a beta of 0.59. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.34 and a quick ratio of 0.35. The company’s 50 day simple moving average is $29.61 and its 200 day simple moving average is $30.43.

Millrose Properties (NYSE:MRP) last released its earnings results on Wednesday, May 6th. The company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.03). The business had revenue of $194.93 million for the quarter. Millrose Properties had a return on equity of 7.90% and a net margin of 64.96%.Millrose Properties’s revenue for the quarter was up 135.7% on a year-over-year basis.

Millrose Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Friday, April 3rd were issued a $0.76 dividend. This is a boost from Millrose Properties’s previous quarterly dividend of $0.75. This represents a $3.04 dividend on an annualized basis and a yield of 11.3%. The ex-dividend date was Thursday, April 2nd. Millrose Properties’s dividend payout ratio is currently 108.96%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Millrose Properties in a research report on Thursday, January 22nd. Wall Street Zen lowered Millrose Properties from a “buy” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $36.13.

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.