NewEdge Advisors LLC Raises Holdings in Millrose Properties, Inc. $MRP

NewEdge Advisors LLC raised its stake in Millrose Properties, Inc. (NYSE:MRP) by 8,054.0% during the first quarter, Holdings Channel.com reports. The firm owned 29,273 shares of the company’s stock after purchasing an additional 28,914 shares during the quarter. NewEdge Advisors LLC’s holdings in Millrose Properties were worth $820,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MRP. Vanguard Group Inc. grew its position in shares of Millrose Properties by 16.3% during the fourth quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company’s stock worth $630,769,000 after buying an additional 2,960,066 shares in the last quarter. State Street Corp raised 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 valued at $151,761,000 after acquiring an additional 950,421 shares in the last quarter. Permian Investment Partners LP raised its holdings in Millrose Properties by 116.4% in the fourth quarter. Permian Investment Partners LP now owns 3,794,312 shares of the company’s stock valued at $113,336,000 after acquiring an additional 2,040,900 shares in the last quarter. Cannell & Spears LLC lifted its stake in Millrose Properties by 1.4% in the first quarter. Cannell & Spears LLC now owns 3,677,754 shares of the company’s stock worth $102,723,000 after acquiring an additional 49,702 shares during the last quarter. Finally, Norges Bank acquired a new position in Millrose Properties during the 4th quarter worth approximately $101,800,000.

Insider Buying and Selling at Millrose Properties

In other Millrose Properties news, Director Matthew B. Gorson acquired 3,000 shares of the stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $28.80 per share, with a total value of $86,400.00. Following the transaction, the director 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Carlos A. Migoya acquired 1,000 shares of the company’s stock in a transaction 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 purchase, 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. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.23% of the company’s stock.

Millrose Properties Trading Up 1.8%

NYSE:MRP opened at $30.48 on Thursday. The company has a market capitalization of $4.70 billion, a PE ratio of 10.62 and a beta of 0.39. Millrose Properties, Inc. has a 52-week low of $26.30 and a 52-week high of $36.00. The stock’s 50 day moving average price is $29.06 and its 200 day moving average price is $29.28. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.42.

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

Millrose Properties Increases Dividend

The firm also recently declared 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. The ex-dividend date was Monday, July 6th. This represents a $3.08 dividend on an annualized basis and a yield of 10.1%. This is an increase from Millrose Properties’s previous quarterly dividend of $0.76. Millrose Properties’s dividend payout ratio (DPR) is currently 107.32%.

Analyst Ratings Changes

A number of brokerages have commented on MRP. Weiss Ratings raised shares of Millrose Properties from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. Wall Street Zen cut shares of Millrose Properties from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price 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.