Hsbc Holdings PLC Decreases Position in Millrose Properties, Inc. $MRP

Key Points

• HSBC Holdings cut its Millrose Properties stake by 82.9% in the first quarter, selling 158,861 shares and retaining 32,755 shares valued at approximately $921,000.
• Analyst sentiment remains generally positive, with an average “Buy” rating and a $37.67 price target, although Weiss Ratings and Wall Street Zen recently downgraded the stock to “Hold.” Shares opened at $28.07, near the lower end of their 52-week range.
• Millrose increased its quarterly dividend to $0.77 per share, implying an annualized yield of about 11%, while insiders purchased roughly 240,532 shares worth $6.6 million over the last quarter. The company’s latest earnings missed estimates slightly, despite revenue rising 135.7% year over year.

Hsbc Holdings PLC lessened its position in Millrose Properties, Inc. (NYSE:MRP - Free Report) by 82.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,755 shares of the company's stock after selling 158,861 shares during the period. Hsbc Holdings PLC's holdings in Millrose Properties were worth $921,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MRP. Sound Income Strategies LLC purchased a new position in Millrose Properties in the 4th quarter worth approximately $29,000. Root Financial Partners LLC boosted its stake 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 valued at $30,000 after purchasing an additional 989 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Millrose Properties by 984.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,323 shares of the company's stock worth $44,000 after purchasing an additional 1,201 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Millrose Properties in the 1st quarter worth $39,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Millrose Properties by 33.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,503 shares of the company's stock worth $45,000 after purchasing an additional 380 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MRP shares. Weiss Ratings downgraded Millrose Properties from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Wall Street Zen downgraded 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 stock. According to MarketBeat.com, Millrose Properties has an average rating of "Buy" and an average price target of $37.67.

Millrose Properties Trading Down 1.8%

Millrose Properties stock opened at $28.07 on Thursday. Millrose Properties, Inc. has a 52-week low of $26.30 and a 52-week high of $36.00. The company has a market cap of $4.33 billion, a P/E ratio of 10.06 and a beta of 0.34. 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 business has a 50-day simple moving average of $28.70 and a two-hundred day simple moving average of $29.39.

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

Millrose Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, July 6th were issued a dividend of $0.77 per share. This is an increase from Millrose Properties's previous quarterly dividend of $0.76. This represents a $3.08 dividend on an annualized basis and a yield of 11.0%. The ex-dividend date of this dividend was Monday, July 6th. Millrose Properties's dividend payout ratio is currently 110.39%.

Insider Activity at Millrose Properties

In other Millrose Properties news, Director Matthew B. Gorson purchased 4,500 shares of the firm's stock in a transaction on Monday, May 18th. The shares were acquired at an average cost of $26.96 per share, for a total transaction of $121,320.00. Following the completion of the transaction, the director owned 35,750 shares of the company's stock, valued at approximately $963,820. The trade was a 14.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Darren Richman purchased 195,000 shares of the company's stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $27.31 per share, for a total transaction of $5,325,450.00. Following the purchase, the insider directly owned 416,000 shares in the company, valued at approximately $11,360,960. The trade was a 88.24% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 240,532 shares of company stock worth $6,567,048 over the last quarter. 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.

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