Principal Financial Group Inc. Purchases 138,227 Shares of Millrose Properties, Inc. $MRP

Key Points

• Principal Financial Group increased its stake in Millrose Properties by 7.7% in the fourth quarter, buying 138,227 additional shares and bringing its total holding to 1,928,856 shares worth about $57.6 million.
• Millrose Properties reported quarterly EPS of $0.74, slightly missing analyst expectations of $0.77, while revenue jumped 135.7% year over year to $194.93 million.
• The company raised its quarterly dividend to $0.76 per share, implying an annualized yield of 11.3%, though the payout ratio remains elevated at 124.59%.

Principal Financial Group Inc. grew its position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,928,856 shares of the company's stock after acquiring an additional 138,227 shares during the period. Principal Financial Group Inc. owned about 1.16% of Millrose Properties worth $57,615,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MRP. Vanguard Group Inc. raised its stake 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 acquiring an additional 2,960,066 shares during the last quarter. Blue Whale Capital LLP increased its position in shares of Millrose Properties by 89.1% during the third quarter. Blue Whale Capital LLP now owns 2,267,144 shares of the company's stock valued at $76,199,000 after buying an additional 1,068,075 shares during the period. Wellington Management Group LLP increased its position in shares of Millrose Properties by 44.7% during the third quarter. Wellington Management Group LLP now owns 2,939,771 shares of the company's stock valued at $98,806,000 after buying an additional 908,189 shares during the period. Millennium Management LLC increased its position in shares of Millrose Properties by 125.0% during the third quarter. Millennium Management LLC now owns 1,614,377 shares of the company's stock valued at $54,259,000 after buying an additional 896,938 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Millrose Properties during the first quarter valued at about $18,093,000.

Insider Activity at Millrose Properties

In other news, Director Matthew B. Gorson purchased 1,000 shares of the business's stock in a transaction dated Thursday, March 5th. The shares were purchased 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 in the company, valued at $785,233.26. This represents a 4.06% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by insiders.

Millrose Properties Price Performance

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

Millrose Properties (NYSE:MRP - Get Free Report) last announced 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 business had revenue of $194.93 million during the quarter. Millrose Properties had a return on equity of 7.90% and a net margin of 64.96%.The business's revenue was up 135.7% on a year-over-year basis.

Millrose Properties Increases Dividend

The company also recently declared 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. The ex-dividend date was Thursday, April 2nd. This is a positive change 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 11.3%. Millrose Properties's dividend payout ratio is currently 124.59%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wall Street Zen cut shares of Millrose Properties from a "buy" rating to a "hold" rating in a research report on Saturday. Weiss Ratings reiterated a "hold (c+)" rating on shares of Millrose Properties in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $36.13.

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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