Asset Management One Co. Ltd. Acquires 43,825 Shares of Millrose Properties, Inc. $MRP

Key Points

• Asset Management One increased its stake in Millrose by 21.8%, adding 43,825 shares in Q4 to hold 245,213 shares (~0.15% of the company) valued at about $7.33 million.
• Multiple institutions initiated or expanded positions in MRP in Q1, most notably Goldman Sachs buying roughly $18.09 million of shares, indicating growing institutional interest.
• Millrose raised its quarterly dividend to $0.76 (annualized $3.04) for a yield near 9.9%, but the dividend payout ratio is high at about 124.6%, which could raise sustainability concerns.

Asset Management One Co. Ltd. increased its holdings in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) by 21.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,213 shares of the company's stock after acquiring an additional 43,825 shares during the period. Asset Management One Co. Ltd. owned approximately 0.15% of Millrose Properties worth $7,332,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Baird Financial Group Inc. purchased a new position in Millrose Properties in the first quarter worth about $224,000. Royal Bank of Canada purchased a new position in Millrose Properties in the first quarter worth about $1,508,000. Advisors Asset Management Inc. purchased a new position in Millrose Properties in the first quarter worth about $45,000. NewEdge Advisors LLC purchased a new position in shares of Millrose Properties during the first quarter valued at approximately $39,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Millrose Properties during the first quarter valued at approximately $18,093,000.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MRP shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Millrose Properties in a report on Thursday, January 22nd. Wall Street Zen raised shares of Millrose Properties from a "hold" rating to a "buy" rating in a report on Saturday, April 4th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Millrose Properties presently has an average rating of "Buy" and a consensus target price of $36.13.

Millrose Properties Stock Performance

MRP opened at $30.76 on Wednesday. The firm has a market cap of $5.11 billion, a P/E ratio of 12.61 and a beta of 0.34. Millrose Properties, Inc. has a 1-year low of $23.69 and a 1-year high of $36.00. The company has a 50 day simple moving average of $29.90 and a two-hundred day simple moving average of $30.57. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.35 and a quick ratio of 0.35.

Millrose Properties (NYSE:MRP - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.74 earnings per share for the quarter, hitting analysts' consensus estimates of $0.74. The business had revenue of $189.50 million during the quarter. Millrose Properties had a net margin of 67.42% and a return on equity of 6.90%.

Millrose Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Friday, April 3rd were given a dividend of $0.76 per share. 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 dividend yield of 9.9%. The ex-dividend date was Thursday, April 2nd. Millrose Properties's dividend payout ratio (DPR) is currently 124.59%.

Insider Buying and Selling at Millrose Properties

In related news, Director Matthew B. Gorson bought 1,000 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The stock was purchased at an average price of $30.66 per share, for a total transaction of $30,660.00. Following the completion of the transaction, the director owned 25,611 shares in the company, valued at $785,233.26. The trade was a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.23% of the company's stock.

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.

Want to see what other hedge funds are holding MRP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Millrose Properties, Inc. (NYSE:MRP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.