ExodusPoint Capital Management LP Purchases 745,684 Shares of Millrose Properties, Inc. $MRP

Key Points

• ExodusPoint Capital Management sharply increased its stake in Millrose Properties, buying 745,684 shares in the fourth quarter and lifting its position by 1,006.1% to 819,797 shares, worth about $24.5 million.
• Millrose Properties reported mixed results: quarterly EPS of $0.74 missed estimates, but revenue reached $194.93 million and rose 135.7% year over year.
• The company boosted its dividend to $0.76 per quarter, implying a 10.6% annualized yield, while analysts currently rate the stock a consensus Buy with a $37.67 average price target.

ExodusPoint Capital Management LP increased its position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) by 1,006.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 819,797 shares of the company's stock after acquiring an additional 745,684 shares during the quarter. ExodusPoint Capital Management LP owned about 0.49% of Millrose Properties worth $24,487,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sound Income Strategies LLC bought a new position in Millrose Properties during the 4th quarter worth approximately $29,000. Smartleaf Asset Management LLC boosted its stake in Millrose Properties by 55.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company's stock worth $34,000 after acquiring an additional 357 shares during the last quarter. Root Financial Partners LLC raised its holdings in Millrose Properties by 3,090.6% during the 4th 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 period. Caitong International Asset Management Co. Ltd raised its holdings in Millrose Properties by 984.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,323 shares of the company's stock worth $44,000 after buying an additional 1,201 shares during the period. Finally, NewEdge Advisors LLC acquired a new stake in Millrose Properties during the 1st quarter worth approximately $39,000.

Millrose Properties Stock Performance

Shares of MRP stock opened at $28.72 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market capitalization of $4.43 billion, a P/E ratio of 10.29 and a beta of 0.40. The company's 50 day moving average price is $28.83 and its two-hundred day moving average price is $29.71. Millrose Properties, Inc. has a 52 week low of $26.30 and a 52 week 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 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.03). The company had revenue of $194.93 million for the quarter. Millrose Properties had a return on equity of 7.90% and a net margin of 64.96%.The business's quarterly revenue was up 135.7% compared to the same quarter last year.

Millrose Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Friday, April 3rd were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 10.6%. This is a boost from Millrose Properties's previous quarterly dividend of $0.75. The ex-dividend date was Thursday, April 2nd. Millrose Properties's dividend payout ratio is 108.96%.

Insider Buying and Selling

In other Millrose Properties news, insider Darren Richman acquired 40,000 shares of the stock in a transaction dated Monday, May 11th. The shares were bought at an average cost of $27.31 per share, for a total transaction of $1,092,400.00. Following the completion of the acquisition, the insider directly owned 84,000 shares of the company's stock, valued at approximately $2,294,040. This trade represents a 90.91% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew B. Gorson acquired 4,500 shares of the stock in a transaction dated Monday, May 18th. The stock was acquired at an average price of $26.96 per share, for a total transaction of $121,320.00. Following the completion of the acquisition, the director directly owned 35,750 shares of the company's stock, valued at $963,820. The trade was a 14.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 240,532 shares of company stock worth $6,567,048 over the last quarter. 0.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen downgraded shares of Millrose Properties from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings downgraded 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 given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $37.67.

Millrose Properties 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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