State of Alaska Department of Revenue grew its stake in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) by 24.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 180,194 shares of the company's stock after acquiring an additional 35,304 shares during the period. State of Alaska Department of Revenue owned about 0.11% of Millrose Properties worth $5,381,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Salomon & Ludwin LLC purchased a new position in shares of Millrose Properties in the third quarter worth approximately $29,000. Sound Income Strategies LLC purchased a new position in shares of Millrose Properties in the fourth quarter worth approximately $29,000. Smartleaf Asset Management LLC increased its position in shares of Millrose Properties by 55.8% in the third quarter. Smartleaf Asset Management LLC now owns 997 shares of the company's stock worth $34,000 after acquiring an additional 357 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Millrose Properties by 95.0% in the third quarter. Farther Finance Advisors LLC now owns 1,123 shares of the company's stock worth $38,000 after acquiring an additional 547 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Millrose Properties by 984.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,323 shares of the company's stock worth $44,000 after acquiring an additional 1,201 shares in the last quarter.
Millrose Properties Price Performance
MRP opened at $30.79 on Wednesday. The stock has a fifty day moving average of $29.94 and a 200-day moving average of $30.66. The firm has a market capitalization of $5.11 billion, a P/E ratio of 12.62 and a beta of 0.34. Millrose Properties, Inc. has a 12-month low of $23.01 and a 12-month high of $36.00. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.36.
Millrose Properties (NYSE:MRP - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.74. The company had revenue of $189.50 million during the quarter. Millrose Properties had a return on equity of 6.90% and a net margin of 67.42%.
Millrose Properties Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, April 3rd will be issued a $0.76 dividend. The ex-dividend date is Thursday, April 2nd. This is an increase 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 9.9%. Millrose Properties's dividend payout ratio is currently 124.59%.
Insider Activity
In other Millrose Properties news, Director Matthew B. Gorson bought 1,000 shares of Millrose Properties stock in a transaction dated Thursday, March 5th. The stock was bought at an average price of $30.66 per share, for a total transaction of $30,660.00. Following the completion of the acquisition, the director directly owned 25,611 shares of the company's stock, valued at approximately $785,233.26. This trade represents a 4.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by insiders.
Analysts Set New Price Targets
Several research analysts have recently weighed in on MRP shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Millrose Properties in a research report on Thursday, January 22nd. Wall Street Zen upgraded Millrose Properties from a "hold" rating to a "buy" rating in a report on Saturday, April 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $36.13.
Read Our Latest Stock Analysis on MRP
About Millrose Properties
(
Free Report)
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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