Element Capital Management LLC Takes Position in Millrose Properties, Inc. $MRP

Element Capital Management LLC bought a new position in shares of Millrose Properties, Inc. (NYSE:MRP) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 284,259 shares of the company’s stock, valued at approximately $8,491,000. Millrose Properties accounts for about 4.1% of Element Capital Management LLC’s holdings, making the stock its 9th largest position. Element Capital Management LLC owned about 0.17% of Millrose Properties at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in MRP. Sound Income Strategies LLC acquired a new position in shares of Millrose Properties in the fourth quarter worth $29,000. Root Financial Partners LLC boosted its holdings in Millrose Properties by 3,090.6% in the fourth quarter. Root Financial Partners LLC now owns 1,021 shares of the company’s stock valued at $30,000 after purchasing an additional 989 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Millrose Properties by 55.8% in the third quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock valued at $34,000 after purchasing an additional 357 shares during the period. NewEdge Advisors LLC acquired a new position in Millrose Properties during the 1st quarter worth $39,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in Millrose Properties by 984.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,323 shares of the company’s stock worth $44,000 after purchasing an additional 1,201 shares in the last quarter.

Insider Activity

In other news, 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 purchased at an average cost of $26.96 per share, with a total value of $121,320.00. Following the transaction, the director directly owned 35,750 shares in the company, valued at $963,820. This trade represents a 14.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Darren Richman acquired 40,000 shares of Millrose Properties stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $27.31 per share, with a total value of $1,092,400.00. Following the purchase, the insider owned 84,000 shares of the company’s stock, valued at $2,294,040. The trade was a 90.91% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 240,532 shares of company stock valued at $6,567,048 over the last three months. Company insiders own 0.23% of the company’s stock.

Millrose Properties Stock Performance

Shares of Millrose Properties stock opened at $28.12 on Thursday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.41. Millrose Properties, Inc. has a 52 week low of $26.30 and a 52 week high of $36.00. The firm’s 50 day moving average is $28.83 and its two-hundred day moving average is $29.70. The firm has a market capitalization of $4.34 billion, a P/E ratio of 10.08 and a beta of 0.40.

Millrose Properties (NYSE:MRP) last issued 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). The company had revenue of $194.93 million during the quarter. Millrose Properties had a net margin of 64.96% and a return on equity of 7.90%. The firm’s revenue was up 135.7% on a year-over-year basis.

Millrose Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Friday, April 3rd were issued 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 annualized dividend and a dividend yield of 10.8%. Millrose Properties’s dividend payout ratio is 108.96%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MRP shares. Wall Street Zen lowered Millrose Properties from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings lowered shares of Millrose Properties from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One 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 company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $37.67.

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.