JPMorgan Chase & Co. Sells 126,564 Shares of Millrose Properties, Inc. $MRP

Key Points

• JPMorgan Chase reduced its position in Millrose Properties by 29.3% in Q3, selling 126,564 shares and now holding 305,068 shares (about 0.18% of MRP) worth roughly $10.25 million.
• Millrose increased its quarterly dividend to $0.76 (annualized $3.04) for a 10.8% yield, with an ex-dividend date of April 2 and a payout ratio of 122.95%.
• Analysts carry an average Buy rating with a mean price target of $36.13, while the stock trades near $28.26 (market cap ~$4.7B, P/E ~11.6), implying potential upside to consensus targets.

JPMorgan Chase & Co. lessened its holdings in Millrose Properties, Inc. (NYSE:MRP - Free Report) by 29.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 305,068 shares of the company's stock after selling 126,564 shares during the quarter. JPMorgan Chase & Co. owned 0.18% of Millrose Properties worth $10,253,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MRP. Bessemer Group Inc. grew its holdings in shares of Millrose Properties by 9.9% during the 3rd quarter. Bessemer Group Inc. now owns 3,506 shares of the company's stock worth $119,000 after purchasing an additional 317 shares in the last quarter. Horiko Capital Management LLC raised its stake in Millrose Properties by 2.1% in the second quarter. Horiko Capital Management LLC now owns 15,732 shares of the company's stock valued at $451,000 after purchasing an additional 323 shares in the last quarter. Amalgamated Bank raised its stake in Millrose Properties by 0.9% in the third quarter. Amalgamated Bank now owns 36,731 shares of the company's stock valued at $1,235,000 after purchasing an additional 334 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Millrose Properties by 0.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 125,165 shares of the company's stock worth $4,007,000 after purchasing an additional 338 shares during the period. Finally, 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 worth $34,000 after purchasing an additional 357 shares during the period.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MRP. BTIG Research began coverage on shares of Millrose Properties in a report on Monday, December 1st. They set a "buy" rating and a $35.00 price target for the company. Weiss Ratings restated a "hold (c+)" rating on shares of Millrose Properties in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $36.13.

Millrose Properties Stock Performance

Millrose Properties stock opened at $28.26 on Friday. The business has a 50 day moving average of $30.26 and a 200-day moving average of $31.17. The company has a market capitalization of $4.69 billion and a P/E ratio of 11.58. Millrose Properties, Inc. has a 1 year low of $21.64 and a 1 year high of $36.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.35 and a quick ratio of 0.35.

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

Millrose Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, April 3rd will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 10.8%. This is an increase from Millrose Properties's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, April 2nd. Millrose Properties's payout ratio is presently 122.95%.

Insider Activity

In other news, Director Matthew B. Gorson acquired 1,000 shares of Millrose Properties stock in a transaction on Thursday, March 5th. The stock was purchased at an average price of $30.66 per share, with a total value of $30,660.00. Following the completion of the purchase, the director owned 25,611 shares of the company's stock, valued at approximately $785,233.26. The trade was a 4.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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.

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