Manning & Napier Advisors LLC Invests $2.91 Million in Millrose Properties, Inc. $MRP

Manning & Napier Advisors LLC acquired a new position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 96,820 shares of the company's stock, valued at approximately $2,909,000. Manning & Napier Advisors LLC owned 0.06% of Millrose Properties as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Millrose Properties by 16.3% during the fourth quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company's stock valued at $630,769,000 after buying an additional 2,960,066 shares during the last quarter. State Street Corp grew its holdings in shares of Millrose Properties by 23.0% during the fourth quarter. State Street Corp now owns 5,080,719 shares of the company's stock valued at $151,761,000 after buying an additional 950,421 shares during the last quarter. Permian Investment Partners LP grew its stake in Millrose Properties by 116.4% during the 4th quarter. Permian Investment Partners LP now owns 3,794,312 shares of the company's stock valued at $113,336,000 after purchasing an additional 2,040,900 shares during the last quarter. Cannell & Spears LLC boosted its position in Millrose Properties by 1.4% in the first quarter. Cannell & Spears LLC now owns 3,677,754 shares of the company's stock valued at $102,723,000 after buying an additional 49,702 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Millrose Properties in the fourth quarter worth $101,800,000.

Millrose Properties Stock Up 1.3%

Shares of MRP opened at $30.91 on Wednesday. The company's 50-day moving average price is $29.19 and its 200 day moving average price is $29.30. The firm has a market cap of $4.77 billion, a P/E ratio of 10.77 and a beta of 0.39. Millrose Properties, Inc. has a 12-month low of $26.30 and a 12-month high of $36.00. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.42.

Millrose Properties (NYSE:MRP - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.01. The firm had revenue of $196.85 million during the quarter. Millrose Properties had a net margin of 62.60% and a return on equity of 8.13%.

Millrose Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $3.08 annualized dividend and a dividend yield of 10.0%. This is an increase from Millrose Properties's previous quarterly dividend of $0.76. Millrose Properties's payout ratio is currently 107.32%.

Insider Activity at Millrose Properties

In other news, Director Carlos A. Migoya purchased 1,000 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average price of $29.18 per share, for a total transaction of $29,180.00. Following the purchase, the director directly owned 30,075 shares of the company's stock, valued at $877,588.50. This represents a 3.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew B. Gorson acquired 3,000 shares of the stock in a transaction on Monday, August 10th. The shares were acquired at an average cost of $28.80 per share, for a total transaction of $86,400.00. Following the completion of the transaction, the director directly owned 38,750 shares in the company, valued at $1,116,000. The trade was a 8.39% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MRP shares. Wall Street Zen lowered shares of Millrose Properties from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings raised shares of Millrose Properties from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $37.67.

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.

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