Ancora Advisors LLC Buys Shares of 625,650 Millrose Properties, Inc. $MRP

Key Points

• Ancora Advisors acquired 625,650 shares of Millrose Properties in the second quarter, valued at approximately $18.8 million and representing about 0.41% of the company. Other institutions, including Vanguard and Principal Financial, also increased their positions.
• Millrose reported quarterly EPS of $0.76, slightly above estimates, on revenue of $196.85 million. The company raised its quarterly dividend to $0.77, implying an annualized yield of about 10%.
• Analysts maintain a generally positive outlook, with Millrose holding an average “Buy” rating and a consensus price target of $37.67. Shares recently traded at $30.91, while two directors also purchased shares in August.

Ancora Advisors LLC bought a new position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 625,650 shares of the company's stock, valued at approximately $18,801,000. Ancora Advisors LLC owned about 0.41% of Millrose Properties at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Millrose Properties by 16.3% in the 4th quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company's stock valued at $630,769,000 after buying an additional 2,960,066 shares in the last quarter. Principal Financial Group Inc. increased its position in Millrose Properties by 7.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,928,856 shares of the company's stock worth $57,615,000 after buying an additional 138,227 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Millrose Properties during the fourth quarter worth $2,514,000. Legal & General Group Plc raised its holdings in shares of Millrose Properties by 12.3% in the fourth quarter. Legal & General Group Plc now owns 354,088 shares of the company's stock worth $10,577,000 after acquiring an additional 38,769 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Millrose Properties in the first quarter worth $1,422,000.

Millrose Properties Trading Up 1.3%

Shares of Millrose Properties stock opened at $30.91 on Wednesday. Millrose Properties, Inc. has a fifty-two week low of $26.30 and a fifty-two week high of $36.00. The business's fifty day moving average is $29.19 and its two-hundred day moving average is $29.30. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.42. The firm has a market cap of $4.77 billion, a PE ratio of 10.77 and a beta of 0.39.

Millrose Properties (NYSE:MRP - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.01. The business 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. Shareholders of record on Monday, July 6th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 10.0%. The ex-dividend date of this dividend was Monday, July 6th. This is a positive change from Millrose Properties's previous quarterly dividend of $0.76. Millrose Properties's dividend payout ratio is 107.32%.

Analysts Set New Price Targets

A number of research firms recently commented on MRP. Weiss Ratings raised Millrose Properties from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 19th. Wall Street Zen lowered shares of Millrose Properties from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. One 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.com, Millrose Properties presently has an average rating of "Buy" and an average target price of $37.67.

Insider Activity

In other Millrose Properties news, Director Carlos A. Migoya purchased 1,000 shares of the stock in a transaction on Friday, August 7th. The stock was bought at an average price of $29.18 per share, for a total transaction of $29,180.00. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Matthew B. Gorson acquired 3,000 shares of the company's stock in a transaction dated 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 purchase, the director owned 38,750 shares in the company, valued at approximately $1,116,000. The trade was 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.

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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