JPMorgan Chase & Co. Decreases Stock Holdings in Millrose Properties, Inc. $MRP

Key Points

• JPMorgan Chase & Co. cut its stake in Millrose Properties by 29.3% in the third quarter, selling 126,564 shares and now holding 305,068 shares worth about $10.25 million (0.18% of the company).
• Millrose raised its quarterly dividend to $0.75 (annualized $3.00), implying a 10.1% yield, while its payout ratio remains high at 122.95%.
• The company reported quarterly EPS of $0.74 (in line with estimates) on $189.5 million in revenue; the stock trades around $29.81 and carries a consensus Buy rating with an average target of $36.13.

JPMorgan Chase & Co. lessened its stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) by 29.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 305,068 shares of the company's stock after selling 126,564 shares during the period. JPMorgan Chase & Co. owned 0.18% of Millrose Properties worth $10,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Salomon & Ludwin LLC bought a new stake in shares of Millrose Properties in the 3rd quarter valued at about $29,000. Smartleaf Asset Management LLC lifted its position in Millrose Properties by 55.8% during the third quarter. Smartleaf Asset Management LLC now owns 997 shares of the company's stock valued at $34,000 after acquiring an additional 357 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Millrose Properties by 95.0% in the third quarter. Farther Finance Advisors LLC now owns 1,123 shares of the company's stock valued at $38,000 after acquiring an additional 547 shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of Millrose Properties during the first quarter worth $39,000. Finally, Advisors Asset Management Inc. acquired a new position in shares of Millrose Properties during the first quarter worth $45,000.

Millrose Properties Trading Down 2.8%

Shares of Millrose Properties stock opened at $29.81 on Friday. The firm's 50 day simple moving average is $30.57 and its two-hundred day simple moving average is $31.75. The firm has a market capitalization of $4.95 billion and a price-to-earnings ratio of 12.22. Millrose Properties, Inc. has a 12-month low of $21.02 and a 12-month high of $36.00. The company has a current ratio of 0.35, a quick ratio of 0.46 and a debt-to-equity ratio of 0.36.

Millrose Properties (NYSE:MRP - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The business had revenue of $189.50 million during the quarter. Millrose Properties had a net margin of 67.42% and a return on equity of 6.90%.

Millrose Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, January 5th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, January 5th. This represents a $3.00 dividend on an annualized basis and a yield of 10.1%. This is an increase from Millrose Properties's previous quarterly dividend of $0.73. Millrose Properties's payout ratio is presently 122.95%.

Analysts Set New Price Targets

MRP has been the subject of a number of recent analyst reports. Weiss Ratings reissued a "hold (c+)" rating on shares of Millrose Properties in a research report on Thursday, January 22nd. BTIG Research started coverage on Millrose Properties in a report on Monday, December 1st. They issued a "buy" rating and a $35.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $36.13.

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.

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.