Dimensional Fund Advisors LP Sells 422,152 Shares of Millrose Properties, Inc. $MRP

Key Points

• Dimensional Fund Advisors sharply reduced its Millrose Properties stake by selling 422,152 shares, an 80.4% decrease, leaving it with 102,647 shares valued at approximately $2.87 million. Other institutions, including Swiss National Bank, increased their positions or initiated new ones.
• Millrose reported quarterly EPS of $0.76, slightly above estimates, on $196.85 million in revenue. The company raised its quarterly dividend to $0.77 per share, implying a 10.4% yield, though its payout ratio exceeds 100%.
• Insiders bought 8,500 shares worth $236,900 over the past 90 days. Analysts maintain a consensus “Buy” rating with an average price target of $37.67, compared with the stock’s recent price of $29.74.

Dimensional Fund Advisors LP cut its holdings in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) by 80.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,647 shares of the company's stock after selling 422,152 shares during the period. Dimensional Fund Advisors LP owned approximately 0.06% of Millrose Properties worth $2,870,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MRP. Parallel Advisors LLC raised its holdings in shares of Millrose Properties by 50.2% during the first quarter. Parallel Advisors LLC now owns 6,925 shares of the company's stock valued at $194,000 after purchasing an additional 2,315 shares during the last quarter. SEB Asset Management AB purchased a new stake in Millrose Properties in the first quarter worth approximately $1,646,000. Swiss National Bank grew its position in Millrose Properties by 25.5% in the 1st quarter. Swiss National Bank now owns 305,086 shares of the company's stock worth $8,542,000 after purchasing an additional 61,900 shares during the period. Annis Gardner Whiting Capital Advisors LLC grew its position in Millrose Properties by 1,201.2% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 3,162 shares of the company's stock worth $89,000 after purchasing an additional 2,919 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Millrose Properties during the 1st quarter valued at $618,000.

Insiders Place Their Bets

In other news, Director Carlos A. Migoya bought 1,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average price of $29.18 per share, for a total transaction of $29,180.00. Following the purchase, the director owned 30,075 shares in the company, valued at $877,588.50. This represents a 3.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Matthew B. Gorson bought 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 acquisition, the director directly owned 35,750 shares in the company, valued at $963,820. This trade represents a 14.40% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 8,500 shares of company stock worth $236,900. 0.23% of the stock is owned by corporate insiders.

Millrose Properties Price Performance

NYSE MRP opened at $29.74 on Thursday. The business's fifty day moving average is $28.93 and its 200 day moving average is $29.27. Millrose Properties, Inc. has a fifty-two week low of $26.30 and a fifty-two week high of $36.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market capitalization of $4.59 billion, a PE ratio of 10.36 and a beta of 0.39.

Millrose Properties (NYSE:MRP - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.75 by $0.01. Millrose Properties had a return on equity of 8.13% and a net margin of 62.60%.The firm had revenue of $196.85 million for the quarter.

Millrose Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 10.4%. The ex-dividend date was Monday, July 6th. This is a positive change from Millrose Properties's previous quarterly dividend of $0.76. Millrose Properties's payout ratio is 107.32%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MRP. Weiss Ratings upgraded Millrose Properties from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, August 5th. Wall Street Zen downgraded shares of Millrose Properties from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. One investment 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. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $37.67.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source