Alpine Global Management LLC Takes $1.86 Million Position in Millrose Properties, Inc. $MRP

Alpine Global Management LLC bought a new stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 62,342 shares of the company's stock, valued at approximately $1,862,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC grew its stake in shares of 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 buying an additional 357 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Millrose Properties by 3.4% in the 4th quarter. HighTower Advisors LLC now owns 11,206 shares of the company's stock valued at $335,000 after acquiring an additional 371 shares during the period. Farther Finance Advisors LLC grew its position in shares of Millrose Properties by 33.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,503 shares of the company's stock valued at $45,000 after acquiring an additional 380 shares during the period. Fifth Third Bancorp increased its stake in shares of Millrose Properties by 16.5% during the 3rd quarter. Fifth Third Bancorp now owns 2,787 shares of the company's stock worth $94,000 after purchasing an additional 395 shares during the last quarter. Finally, Unison Advisors LLC increased its stake in shares of Millrose Properties by 2.1% during the 4th quarter. Unison Advisors LLC now owns 21,620 shares of the company's stock worth $646,000 after purchasing an additional 439 shares during the last quarter.

Insider Activity

In other news, Director Matthew B. Gorson bought 4,500 shares of the firm's stock in a transaction on Monday, May 18th. The shares were purchased at an average cost of $26.96 per share, with a total value of $121,320.00. Following the acquisition, the director directly owned 35,750 shares in the company, valued at $963,820. This represents a 14.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Darren Richman purchased 195,000 shares of Millrose Properties stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price of $27.31 per share, for a total transaction of $5,325,450.00. Following the transaction, the insider directly owned 416,000 shares in the company, valued at $11,360,960. This represents a 88.24% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 240,532 shares of company stock worth $6,567,048. Insiders own 0.23% of the company's stock.

Millrose Properties Stock Performance

MRP opened at $28.45 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.34 and a quick ratio of 0.34. The business has a fifty day simple moving average of $28.85 and a 200 day simple moving average of $29.69. Millrose Properties, Inc. has a 1 year low of $26.30 and a 1 year high of $36.00. The company has a market capitalization of $4.39 billion, a PE ratio of 10.20 and a beta of 0.40.

Millrose Properties (NYSE:MRP - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.03). Millrose Properties had a return on equity of 7.90% and a net margin of 64.96%.The business had revenue of $194.93 million during the quarter. 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 paid a dividend of $0.76 per share. The ex-dividend date 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 yield of 10.7%. Millrose Properties's dividend payout ratio is currently 108.96%.

Analysts Set New Price Targets

MRP has been the subject of several research reports. Wall Street Zen downgraded Millrose Properties from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings downgraded shares of Millrose Properties from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus 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.

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