Manning & Napier Advisors LLC Purchases Shares of 84,162 Millrose Properties, Inc. $MRP

Key Points

• Manning & Napier Advisors disclosed a new position in Millrose Properties, buying 84,162 shares valued at about $2.51 million and representing 0.05% of the company.
• Analysts remain generally positive on MRP, with a consensus rating of Buy and an average price target of $36.13, though one recent report downgraded the stock to Hold.
• Millrose Properties reported Q1 earnings of $0.74 per share, missing estimates, while revenue jumped 135.7% year over year; the company also raised its quarterly dividend to $0.76 per share, yielding about 11.3%.

Manning & Napier Advisors LLC acquired a new position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 84,162 shares of the company's stock, valued at approximately $2,514,000. Manning & Napier Advisors LLC owned 0.05% of Millrose Properties as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in Millrose Properties in the fourth quarter valued at about $52,000. Sequoia Financial Advisors LLC lifted its stake in Millrose Properties by 52.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 9,682 shares of the company's stock worth $289,000 after purchasing an additional 3,329 shares during the period. Swedbank AB acquired a new stake in Millrose Properties during the fourth quarter valued at approximately $664,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Millrose Properties by 35.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,461 shares of the company's stock valued at $3,623,000 after purchasing an additional 31,592 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Millrose Properties by 38.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 34,456 shares of the company's stock valued at $1,029,000 after purchasing an additional 9,604 shares during the period.

Analyst Upgrades and Downgrades

MRP has been the subject of a number of recent research reports. Weiss Ratings reissued a "hold (c+)" rating on shares of Millrose Properties in a report on Thursday, January 22nd. Wall Street Zen cut Millrose Properties from a "buy" rating to a "hold" rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $36.13.

Millrose Properties Price Performance

NYSE:MRP opened at $26.98 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.34 and a debt-to-equity ratio of 0.41. The firm has a market cap of $4.16 billion, a PE ratio of 9.67 and a beta of 0.59. Millrose Properties, Inc. has a 12 month low of $25.22 and a 12 month high of $36.00. The company's 50-day moving average price is $29.61 and its two-hundred day moving average price is $30.43.

Millrose Properties (NYSE:MRP - Get Free Report) last posted its quarterly earnings data 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%.Millrose Properties's revenue for the quarter was up 135.7% on a year-over-year basis.

Millrose Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Friday, April 3rd were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 11.3%. This is a positive change from Millrose Properties's previous quarterly dividend of $0.75. Millrose Properties's payout ratio is 108.96%.

Insider Transactions at Millrose Properties

In other Millrose Properties news, Director Matthew B. Gorson acquired 1,000 shares of Millrose Properties stock in a transaction on Thursday, March 5th. The shares were bought 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 in the company, valued at $785,233.26. This trade represents a 4.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.23% of the company's stock.

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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