BNP Paribas Financial Markets Purchases 330,787 Shares of Millrose Properties, Inc. $MRP

Key Points

• BNP Paribas Financial Markets increased its stake in Millrose Properties by 508% in the fourth quarter, buying an additional 330,787 shares and bringing its total holding to 395,907 shares worth about $11.8 million.
• Several other large investors also boosted positions, including Vanguard, State Street, Norges Bank, Wellington Management, and Geode Capital Management, signaling continued institutional interest in the stock.
• Millrose Properties posted quarterly EPS of $0.74, missing estimates by $0.03, while revenue rose 135.7% year over year to $194.93 million; the company also raised its quarterly dividend to $0.76 per share, for an annualized yield of about 10.5%.

BNP Paribas Financial Markets lifted its holdings in Millrose Properties, Inc. (NYSE:MRP - Free Report) by 508.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 395,907 shares of the company's stock after purchasing an additional 330,787 shares during the period. BNP Paribas Financial Markets owned about 0.24% of Millrose Properties worth $11,826,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Millrose Properties by 16.3% in the fourth quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company's stock worth $630,769,000 after buying an additional 2,960,066 shares during the period. State Street Corp raised its position in shares of Millrose Properties by 8.7% during the 2nd quarter. State Street Corp now owns 4,173,660 shares of the company's stock valued at $118,991,000 after purchasing an additional 333,686 shares during the period. Norges Bank purchased a new position in shares of Millrose Properties during the 4th quarter valued at $101,800,000. Wellington Management Group LLP lifted its stake in shares of Millrose Properties by 44.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,939,771 shares of the company's stock valued at $98,806,000 after buying an additional 908,189 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Millrose Properties by 29.1% in the 4th quarter. Geode Capital Management LLC now owns 2,909,575 shares of the company's stock worth $86,928,000 after buying an additional 655,706 shares during the period.

Analysts Set New Price Targets

Several brokerages recently issued reports on MRP. Wall Street Zen downgraded Millrose Properties from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings lowered shares of Millrose Properties from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $37.67.

Insider Buying and Selling at Millrose Properties

In other news, Director Matthew B. Gorson purchased 4,500 shares of the company's stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average cost of $26.96 per share, with a total value of $121,320.00. Following the purchase, the director owned 35,750 shares in the company, valued at approximately $963,820. This trade represents a 14.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Darren Richman purchased 40,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $27.31 per share, with a total value of $1,092,400.00. Following the completion of the purchase, the insider directly owned 84,000 shares in the company, valued at $2,294,040. The trade was a 90.91% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 240,532 shares of company stock worth $6,567,048. Insiders own 0.23% of the company's stock.

Millrose Properties Stock Performance

Millrose Properties stock opened at $28.93 on Monday. The company's 50-day moving average price is $28.69 and its 200-day moving average price is $29.78. Millrose Properties, Inc. has a twelve month low of $26.30 and a twelve month high of $36.00. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.41. The company has a market cap of $4.46 billion, a PE ratio of 10.37 and a beta of 0.40.

Millrose Properties (NYSE:MRP - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.77 by ($0.03). The business had revenue of $194.93 million during the quarter. Millrose Properties had a net margin of 64.96% and a return on equity of 7.90%. The firm's quarterly 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 given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 10.5%. This is a positive change from Millrose Properties's previous quarterly dividend of $0.75. The ex-dividend date was Thursday, April 2nd. Millrose Properties's dividend payout ratio (DPR) is presently 108.96%.

Millrose Properties Company 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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