Moore Capital Management LP Acquires 746,923 Shares of Millrose Properties, Inc. $MRP

Key Points

• Moore Capital Management significantly increased its stake in Millrose Properties, buying 746,923 additional shares in the fourth quarter and raising its holdings to 1,018,533 shares, worth about $30.4 million.
• Insider buying has also been notable, including purchases by Director Matthew B. Gorson and insider Darren Richman, who together helped drive 240,532 shares of insider buying over the last 90 days.
• Millrose Properties reported mixed fundamentals: its latest quarterly EPS missed estimates, but revenue jumped 135.7% year over year, and the company recently increased its dividend to $0.76 per share, implying a 10.8% annualized yield.

Moore Capital Management LP boosted its position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) by 275.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,018,533 shares of the company's stock after purchasing an additional 746,923 shares during the quarter. Moore Capital Management LP owned about 0.61% of Millrose Properties worth $30,424,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MRP. Hodges Capital Management Inc. lifted its stake in shares of Millrose Properties by 180.0% in the third quarter. Hodges Capital Management Inc. now owns 80,722 shares of the company's stock worth $2,713,000 after buying an additional 51,892 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Millrose Properties by 16.3% in the fourth quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company's stock worth $630,769,000 after buying an additional 2,960,066 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Millrose Properties by 24.4% in the fourth quarter. State of Alaska Department of Revenue now owns 180,194 shares of the company's stock worth $5,381,000 after buying an additional 35,304 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Millrose Properties by 7.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,928,856 shares of the company's stock worth $57,615,000 after buying an additional 138,227 shares in the last quarter. Finally, Gabelli Funds LLC lifted its stake in shares of Millrose Properties by 34.9% in the third quarter. Gabelli Funds LLC now owns 524,366 shares of the company's stock worth $17,624,000 after buying an additional 135,523 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MRP shares. Wall Street Zen downgraded shares of Millrose Properties from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings downgraded shares of Millrose Properties from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $37.67.

Insider Buying and Selling

In related news, Director Matthew B. Gorson acquired 4,500 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were bought at an average price of $26.96 per share, for a total transaction of $121,320.00. Following the completion of the transaction, the director directly owned 35,750 shares in the company, valued at approximately $963,820. This trade represents a 14.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Darren Richman acquired 195,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $27.31 per share, for a total transaction of $5,325,450.00. Following the transaction, the insider owned 416,000 shares of the company's stock, valued at $11,360,960. This trade represents a 88.24% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 240,532 shares of company stock worth $6,567,048. 0.23% of the stock is owned by insiders.

Millrose Properties Stock Down 2.0%

Shares of Millrose Properties stock opened at $28.12 on Thursday. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 10.08 and a beta of 0.40. The company's 50 day moving average is $28.83 and its 200 day moving average is $29.70. Millrose Properties, Inc. has a twelve month low of $26.30 and a twelve month high of $36.00. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.41.

Millrose Properties (NYSE:MRP - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.74 earnings per share for the quarter, missing analysts' consensus estimates of $0.77 by ($0.03). The company had revenue of $194.93 million for the quarter. Millrose Properties had a net margin of 64.96% and a return on equity of 7.90%. The business's quarterly revenue was up 135.7% on a year-over-year basis.

Millrose Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Friday, April 3rd were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 10.8%. 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 currently 108.96%.

About Millrose Properties

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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