Adelante Capital Management LLC Buys Shares of 410,847 Millrose Properties, Inc. $MRP

Adelante Capital Management LLC acquired a new position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 410,847 shares of the company's stock, valued at approximately $12,346,000. Adelante Capital Management LLC owned approximately 0.27% of Millrose Properties at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MRP. Root Financial Partners LLC grew its position in Millrose Properties by 3,090.6% during the 4th quarter. Root Financial Partners LLC now owns 1,021 shares of the company's stock worth $30,000 after acquiring an additional 989 shares during the last quarter. NewEdge Advisors LLC acquired a new position in Millrose Properties during the 1st quarter worth about $39,000. Caitong International Asset Management Co. Ltd increased its position 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 valued at $44,000 after purchasing an additional 1,201 shares during the period. Farther Finance Advisors LLC raised its holdings in Millrose Properties by 33.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,503 shares of the company's stock worth $45,000 after purchasing an additional 380 shares during the last quarter. Finally, Advisors Asset Management Inc. acquired a new position in shares of Millrose Properties in the 1st quarter worth approximately $45,000.

Millrose Properties Stock Performance

NYSE MRP opened at $30.75 on Thursday. The company has a market cap of $4.74 billion, a P/E ratio of 10.71 and a beta of 0.39. The company has a fifty day simple moving average of $29.24 and a 200 day simple moving average of $29.30. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.42. Millrose Properties, Inc. has a 12-month low of $26.30 and a 12-month high of $36.00.

Millrose Properties (NYSE:MRP - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.01. The business had revenue of $196.85 million for the quarter. Millrose Properties had a net margin of 62.60% and a return on equity of 8.13%.

Millrose Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date was Monday, July 6th. This is a boost from Millrose Properties's previous quarterly dividend of $0.76. Millrose Properties's dividend payout ratio (DPR) is presently 107.32%.

Insider Buying and Selling

In other news, Director Carlos A. Migoya bought 1,000 shares of the firm's stock in a transaction on Friday, August 7th. The stock was acquired at an average cost of $29.18 per share, with a total value of $29,180.00. Following the completion of the transaction, the director directly owned 30,075 shares of the company's stock, valued at $877,588.50. This represents a 3.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew B. Gorson purchased 3,000 shares of the business's stock in a transaction dated Monday, August 10th. The stock was bought at an average cost of $28.80 per share, with a total value of $86,400.00. Following the completion of the acquisition, 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 ownership of the stock. The SEC filing for this purchase provides additional information. 0.23% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wall Street Zen downgraded Millrose Properties from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings upgraded Millrose Properties from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target 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.

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