Louisiana State Employees Retirement System Purchases New Stake in Millrose Properties, Inc. $MRP

Key Points

• Institutional buying: Louisiana State Employees Retirement System opened a new position in Millrose Properties, buying 68,400 shares valued at about $1.9 million in the first quarter.
• Mixed analyst sentiment: Wall Street Zen and Weiss Ratings recently lowered their views on the stock, but the overall consensus remains “Buy” with a price target of $37.67.
• Dividend and earnings update: Millrose Properties raised its quarterly dividend to $0.77 per share, though its latest earnings missed estimates with EPS of $0.74 versus the expected $0.77.

Louisiana State Employees Retirement System purchased a new stake in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 68,400 shares of the company's stock, valued at approximately $1,915,000.

Several other institutional investors have also recently bought and sold shares of MRP. Sound Income Strategies LLC bought a new stake in shares of Millrose Properties during the fourth quarter worth about $29,000. Root Financial Partners LLC lifted its position in Millrose Properties by 3,090.6% in the 4th quarter. Root Financial Partners LLC now owns 1,021 shares of the company's stock valued at $30,000 after acquiring an additional 989 shares in the last quarter. NewEdge Advisors LLC acquired a new position in Millrose Properties during the 1st quarter valued at about $39,000. Caitong International Asset Management Co. Ltd boosted its stake 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 valued at $44,000 after purchasing an additional 1,201 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Millrose Properties by 33.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,503 shares of the company's stock worth $45,000 after purchasing an additional 380 shares in the last quarter.

Wall Street Analysts Forecast Growth

MRP has been the subject of several analyst reports. Wall Street Zen downgraded Millrose Properties from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings cut Millrose Properties from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, May 11th. One research 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 data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $37.67.

Millrose Properties Stock Down 2.3%

MRP opened at $29.98 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.34 and a quick ratio of 0.34. The company's 50-day moving average is $28.72 and its 200 day moving average is $29.59. Millrose Properties, Inc. has a fifty-two week low of $26.30 and a fifty-two week high of $36.00. The firm has a market capitalization of $4.62 billion, a P/E ratio of 10.75 and a beta of 0.40.

Millrose Properties (NYSE:MRP - Get Free Report) last released its quarterly earnings results 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 firm 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 revenue was up 135.7% compared to the same quarter last year.

Millrose Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th will be issued a $0.77 dividend. This is a boost from Millrose Properties's previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a dividend yield of 10.3%. The ex-dividend date of this dividend is Monday, July 6th. Millrose Properties's dividend payout ratio is currently 108.96%.

Insider Buying and Selling

In other Millrose Properties news, Director Matthew B. Gorson acquired 4,500 shares of Millrose Properties stock in a transaction on 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 purchase, the director directly owned 35,750 shares of the company's stock, valued at $963,820. This trade represents a 14.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Darren Richman acquired 40,000 shares of Millrose Properties stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $27.31 per share, with a total value of $1,092,400.00. Following the purchase, the insider directly owned 84,000 shares in the company, valued at approximately $2,294,040. This trade represents a 90.91% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 240,532 shares of company stock valued at $6,567,048 over the last ninety days. 0.23% of the stock is currently owned by company insiders.

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.