Legal & General Group Plc Acquires 38,769 Shares of Millrose Properties, Inc. $MRP

Key Points

• Legal & General Group Plc increased its stake in Millrose Properties by 12.3% in the fourth quarter, adding 38,769 shares and bringing its total holding to 354,088 shares valued at about $10.6 million.
• Several insiders also bought shares, including Director Matthew B. Gorson and insider Darren Richman, with insiders purchasing 240,532 shares worth about $6.57 million over the last 90 days.
• Millrose Properties reported mixed fundamentals: quarterly EPS missed expectations by $0.03, but revenue jumped 135.7% year over year; the company also raised its quarterly dividend to $0.76 per share, implying an 11.0% yield.

Legal & General Group Plc raised its holdings in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) by 12.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 354,088 shares of the company's stock after acquiring an additional 38,769 shares during the quarter. Legal & General Group Plc owned approximately 0.21% of Millrose Properties worth $10,577,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sound Income Strategies LLC bought a new stake in Millrose Properties during the fourth quarter valued at about $29,000. Smartleaf Asset Management LLC raised its holdings 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 period. Caitong International Asset Management Co. Ltd raised its holdings in Millrose Properties by 984.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,323 shares of the company's stock valued at $44,000 after acquiring an additional 1,201 shares during the period. NewEdge Advisors LLC bought a new stake in Millrose Properties during the first quarter valued at about $39,000. Finally, Farther Finance Advisors LLC raised its holdings in Millrose Properties by 33.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,503 shares of the company's stock valued at $45,000 after acquiring an additional 380 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wall Street Zen cut Millrose Properties from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings cut 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. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $37.67.

Insider Transactions at Millrose Properties

In other news, Director Matthew B. Gorson acquired 4,500 shares of the business's stock in a transaction dated Monday, May 18th. The stock was purchased at an average price of $26.96 per share, for a total transaction of $121,320.00. Following the completion of the transaction, the director directly owned 35,750 shares in the company, valued at approximately $963,820. This trade represents a 14.40% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darren Richman acquired 195,000 shares of the business's stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $27.31 per share, with a total value of $5,325,450.00. Following the transaction, the insider owned 416,000 shares of the company's stock, valued at approximately $11,360,960. This represents a 88.24% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 240,532 shares of company stock valued at $6,567,048. Company insiders own 0.23% of the company's stock.

Millrose Properties Trading Down 1.0%

Shares of Millrose Properties stock opened at $27.55 on Thursday. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 9.87 and a beta of 0.40. The business has a 50-day moving average price of $28.69 and a 200-day moving average price of $29.80. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.41. Millrose Properties, Inc. has a twelve month low of $26.30 and a twelve month high of $36.00.

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 analysts' consensus estimates of $0.77 by ($0.03). The firm had revenue of $194.93 million for the quarter. Millrose Properties had a net margin of 64.96% and a return on equity of 7.90%. The firm's revenue for the quarter was up 135.7% on a year-over-year basis.

Millrose Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Friday, April 3rd were given a dividend of $0.76 per share. The ex-dividend date was Thursday, April 2nd. This is a positive change from Millrose Properties's previous quarterly dividend of $0.75. This represents a $3.04 dividend on an annualized basis and a dividend yield of 11.0%. Millrose Properties's dividend payout ratio (DPR) is 108.96%.

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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