Entropy Technologies LP Reduces Stake in Millrose Properties, Inc. $MRP

Key Points

• Entropy Technologies LP cut its Millrose Properties stake by 73.7% in the first quarter, selling 64,787 shares and retaining 23,141 shares worth approximately $648,000.
• Millrose insiders took the opposite approach, purchasing 240,532 shares worth $6.57 million over the past three months. Insider Darren Richman increased his position by 88.24% through a 195,000-share purchase.
• Millrose reported 135.7% year-over-year revenue growth to $194.93 million, though quarterly EPS of $0.74 missed estimates. The company raised its quarterly dividend to $0.77, implying an annualized yield of about 11%, while analysts maintained a consensus “Buy” rating and a $37.67 price target.

Entropy Technologies LP lowered its stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) by 73.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,141 shares of the company's stock after selling 64,787 shares during the quarter. Entropy Technologies LP's holdings in Millrose Properties were worth $648,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Millrose Properties by 16.3% during the fourth quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company's stock valued at $630,769,000 after acquiring an additional 2,960,066 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Millrose Properties by 24.4% in the 4th quarter. State of Alaska Department of Revenue now owns 180,194 shares of the company's stock worth $5,381,000 after purchasing an additional 35,304 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Millrose Properties by 7.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,928,856 shares of the company's stock worth $57,615,000 after purchasing an additional 138,227 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in Millrose Properties in the 4th quarter worth approximately $2,514,000. Finally, Thrivent Financial for Lutherans boosted its holdings in Millrose Properties by 34.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 726,605 shares of the company's stock valued at $21,703,000 after purchasing an additional 187,243 shares during the period.

Insiders Place Their Bets

In related news, insider Darren Richman acquired 195,000 shares of the stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $27.31 per share, for a total transaction of $5,325,450.00. Following the transaction, the insider owned 416,000 shares in the company, valued at $11,360,960. This represents a 88.24% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Matthew B. Gorson bought 4,500 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was bought at an average price of $26.96 per share, with a total value of $121,320.00. Following the completion of the transaction, the director directly owned 35,750 shares of the company's stock, valued at $963,820. This represents a 14.40% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 240,532 shares of company stock worth $6,567,048 in the last three months. Insiders own 0.23% of the company's stock.

Millrose Properties Stock Down 1.8%

Shares of NYSE MRP opened at $28.07 on Thursday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.41. The business has a 50-day moving average of $28.70 and a 200-day moving average of $29.39. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 10.06 and a beta of 0.34. Millrose Properties, Inc. has a 12 month low of $26.30 and a 12 month high of $36.00.

Millrose Properties (NYSE:MRP - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.74 earnings per share for the quarter, missing analysts' consensus estimates of $0.77 by ($0.03). Millrose Properties had a net margin of 64.96% and a return on equity of 7.90%. The company had revenue of $194.93 million during the quarter. The company's quarterly revenue was up 135.7% compared to the same quarter last year.

Millrose Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 11.0%. 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 payout ratio is currently 110.39%.

Analysts Set New Price Targets

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

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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