Millrose Properties, Inc. $MRP Shares Purchased by M&T Bank Corp

Key Points

• M&T Bank Corp boosted its stake in Millrose Properties by 607.9% in Q4, adding 37,988 shares to hold 44,237 shares valued at about $1.32 million.
• Millrose raised its quarterly dividend to $0.76 (annualized $3.04), implying a 10.0% yield, but the payout ratio is high at roughly 124.6%.
• The company reported EPS of $0.74 in the most recent quarter (meeting estimates) on $189.5M revenue, and analysts hold an average "Buy" rating with a $36.13 consensus target while the stock trades near $30.47 (52-week range $24.60–$36.00).

M&T Bank Corp raised its stake in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) by 607.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,237 shares of the company's stock after buying an additional 37,988 shares during the quarter. M&T Bank Corp's holdings in Millrose Properties were worth $1,321,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MRP. Salomon & Ludwin LLC acquired a new stake in Millrose Properties during the 3rd quarter valued at $29,000. Sound Income Strategies LLC acquired a new stake in Millrose Properties during the 4th quarter valued at $29,000. Smartleaf Asset Management LLC grew its holdings in Millrose Properties by 55.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company's stock valued at $34,000 after buying an additional 357 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Millrose Properties by 95.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,123 shares of the company's stock valued at $38,000 after buying an additional 547 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in Millrose Properties during the 1st quarter valued at $39,000.

Millrose Properties Price Performance

MRP stock opened at $30.47 on Thursday. Millrose Properties, Inc. has a 52-week low of $24.60 and a 52-week high of $36.00. The stock's fifty day simple moving average is $29.76 and its 200-day simple moving average is $30.52. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 12.49 and a beta of 0.34.

Millrose Properties (NYSE:MRP - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. Millrose Properties had a return on equity of 6.90% and a net margin of 67.42%.The business had revenue of $189.50 million for the quarter.

Millrose Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Friday, April 3rd were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 10.0%. This is a positive change from Millrose Properties's previous quarterly dividend of $0.75. The ex-dividend date was Thursday, April 2nd. Millrose Properties's payout ratio is 124.59%.

Analyst Upgrades and Downgrades

MRP has been the topic of a number of analyst reports. Wall Street Zen upgraded Millrose Properties from a "hold" rating to a "buy" rating in a report on Saturday, April 4th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Millrose Properties in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $36.13.

Insider Activity

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

Millrose Properties Company 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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