Ancora Advisors LLC Raises Stock Position in Millrose Properties, Inc. $MRP

Key Points

• Ancora Advisors increased its Millrose Properties position by 52.5% in the second quarter, adding 215,461 shares to own 625,650 shares worth approximately $18.8 million, or 0.41% of the company.
• Analyst sentiment remains positive, with one Strong Buy and three Buy ratings producing a consensus “Buy” rating and a $37.67 price target. However, Wall Street Zen downgraded the stock to Hold.
• Millrose reported quarterly EPS of $0.76, slightly above estimates, and raised its quarterly dividend to $0.77, implying a 10.1% annualized yield; directors also recently purchased shares.

Ancora Advisors LLC boosted its holdings in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) by 52.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 625,650 shares of the company's stock after purchasing an additional 215,461 shares during the period. Ancora Advisors LLC owned about 0.41% of Millrose Properties worth $18,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Root Financial Partners LLC boosted its stake in shares of Millrose Properties by 3,090.6% in the fourth quarter. Root Financial Partners LLC now owns 1,021 shares of the company's stock worth $30,000 after buying an additional 989 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Millrose Properties by 984.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,323 shares of the company's stock worth $44,000 after acquiring an additional 1,201 shares during the period. NewEdge Advisors LLC purchased a new position in Millrose Properties during the first quarter valued at approximately $39,000. Farther Finance Advisors LLC raised its position in Millrose Properties by 33.8% during the fourth 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 in the last quarter. Finally, Rothschild Investment LLC lifted its holdings in Millrose Properties by 1,820.5% in the fourth quarter. Rothschild Investment LLC now owns 1,594 shares of the company's stock valued at $48,000 after acquiring an additional 1,511 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MRP shares. Wall Street Zen cut shares of Millrose Properties from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings upgraded shares of Millrose Properties from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, Millrose Properties has a consensus rating of "Buy" and a consensus price target of $37.67.

Insiders Place Their Bets

In related news, Director Carlos A. Migoya acquired 1,000 shares of Millrose Properties stock in a transaction on Friday, August 7th. The stock was bought at an average cost of $29.18 per share, for a total transaction of $29,180.00. Following the completion of the transaction, the director owned 30,075 shares of the company's stock, valued at approximately $877,588.50. The trade was a 3.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew B. Gorson acquired 3,000 shares of the firm's stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $28.80 per share, for a total transaction of $86,400.00. Following the completion of the acquisition, the director owned 38,750 shares of the company's stock, valued at approximately $1,116,000. This represents a 8.39% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.23% of the company's stock.

Millrose Properties Price Performance

NYSE:MRP opened at $30.47 on Tuesday. Millrose Properties, Inc. has a 52 week low of $26.30 and a 52 week high of $35.58. 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 stock has a market capitalization of $4.70 billion, a PE ratio of 10.62 and a beta of 0.39. The stock's 50-day moving average price is $29.37 and its 200-day moving average price is $29.28.

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

Millrose Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, July 6th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 10.1%. The ex-dividend date of this dividend was Monday, July 6th. This is a boost from Millrose Properties's previous quarterly dividend of $0.76. Millrose Properties's payout ratio is presently 107.32%.

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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