Sumitomo Mitsui Trust Group Inc. Raises Position in Millrose Properties, Inc. $MRP

Key Points

• Sumitomo Mitsui Trust Group raised its stake in Millrose Properties by 26.8%, owning 168,009 shares worth about $5.02 million as of its latest 13F filing.
• Other large investors also increased or initiated positions — Blue Whale (+89.1% to 2.27M shares), Wellington (+44.7% to 2.94M), Millennium (+125% to 1.61M) and new stakes from Goldman Sachs and Two Sigma — signaling broad institutional accumulation.
• Millrose boosted its quarterly dividend to $0.76 (annualized $3.04), implying a 9.8% yield, but the payout ratio is elevated at about 124.6%, which may raise sustainability concerns.

Sumitomo Mitsui Trust Group Inc. grew its holdings in Millrose Properties, Inc. (NYSE:MRP - Free Report) by 26.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 168,009 shares of the company's stock after acquiring an additional 35,523 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.10% of Millrose Properties worth $5,018,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Blue Whale Capital LLP raised its stake in shares of Millrose Properties by 89.1% in the third quarter. Blue Whale Capital LLP now owns 2,267,144 shares of the company's stock valued at $76,199,000 after acquiring an additional 1,068,075 shares in the last quarter. Wellington Management Group LLP grew its stake in Millrose Properties by 44.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,939,771 shares of the company's stock worth $98,806,000 after purchasing an additional 908,189 shares in the last quarter. Millennium Management LLC grew its stake in Millrose Properties by 125.0% during the 3rd quarter. Millennium Management LLC now owns 1,614,377 shares of the company's stock worth $54,259,000 after purchasing an additional 896,938 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in Millrose Properties during the 1st quarter worth about $18,093,000. Finally, Two Sigma Investments LP purchased a new stake in Millrose Properties during the 3rd quarter worth about $15,952,000.

Millrose Properties Stock Performance

Shares of MRP stock opened at $31.06 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average price of $29.92 and a 200 day moving average price of $30.64. The company has a market cap of $5.16 billion, a P/E ratio of 12.73 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.

Millrose Properties (NYSE:MRP - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The firm had revenue of $189.50 million for 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 disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Friday, April 3rd were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date was Thursday, April 2nd. This is an increase from Millrose Properties's previous quarterly dividend of $0.75. Millrose Properties's dividend payout ratio (DPR) is currently 124.59%.

Insider Buying and Selling at Millrose Properties

In other Millrose Properties news, Director Matthew B. Gorson bought 1,000 shares of the business's stock in a transaction dated Thursday, March 5th. The shares were acquired at an average price of $30.66 per share, with a total value of $30,660.00. Following the transaction, the director owned 25,611 shares of the company's stock, valued at approximately $785,233.26. The trade was a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of Millrose Properties in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Millrose Properties from a "hold" rating to a "buy" rating in a research note on Saturday, April 4th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $36.13.

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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