Swiss National Bank Purchases 61,900 Shares of Millrose Properties, Inc. $MRP

Key Points

• Swiss National Bank increased its Millrose Properties stake by 25.5%, acquiring 61,900 shares to hold 305,086 shares valued at approximately $8.5 million. Several other institutional investors, including Vanguard, also expanded their positions.
• Analyst sentiment remains positive, with a consensus “Buy” rating and a $37.67 price target, although two research firms recently downgraded the stock to “Hold.” Insiders have also purchased 240,532 shares worth about $6.6 million over the past three months.
• Millrose reported quarterly revenue of $194.93 million, up 135.7% year over year, but missed earnings expectations with EPS of $0.74 versus $0.77 forecast. The company raised its quarterly dividend to $0.77 per share, implying a 10.8% annualized yield, though its payout ratio exceeds 100%.

Swiss National Bank lifted its holdings in Millrose Properties, Inc. (NYSE:MRP - Free Report) by 25.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,086 shares of the company's stock after acquiring an additional 61,900 shares during the quarter. Swiss National Bank owned approximately 0.18% of Millrose Properties worth $8,542,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of MRP. Vanguard Group Inc. increased 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 valued at $630,769,000 after buying an additional 2,960,066 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Millrose Properties by 24.4% during the 4th 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. grew its holdings in Millrose Properties by 7.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,928,856 shares of the company's stock worth $57,615,000 after acquiring an additional 138,227 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in Millrose Properties during the 4th quarter worth about $2,514,000. Finally, Thrivent Financial for Lutherans increased its position in Millrose Properties by 34.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 726,605 shares of the company's stock valued at $21,703,000 after acquiring an additional 187,243 shares in the last quarter.

Wall Street Analyst Weigh In

MRP has been the topic of a number of research reports. Weiss Ratings lowered shares of Millrose Properties from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Wall Street Zen cut shares of Millrose Properties from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $37.67.

Insider Activity at Millrose Properties

In other news, Director Matthew B. Gorson bought 4,500 shares of the business's stock in a transaction on Monday, May 18th. The shares were bought at an average cost of $26.96 per share, for a total transaction of $121,320.00. Following the completion of the acquisition, the director owned 35,750 shares in the company, valued at approximately $963,820. This trade represents a 14.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Darren Richman purchased 195,000 shares of Millrose Properties stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $27.31 per share, for a total transaction of $5,325,450.00. Following the completion of the transaction, the insider owned 416,000 shares of the company's stock, valued at approximately $11,360,960. This represents a 88.24% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 240,532 shares of company stock worth $6,567,048 in the last three months. 0.23% of the stock is owned by insiders.

Millrose Properties Trading Down 0.3%

NYSE MRP opened at $28.42 on Tuesday. The stock has a 50-day simple moving average of $28.65 and a 200 day simple moving average of $29.40. The company has a market capitalization of $4.38 billion, a PE ratio of 10.19 and a beta of 0.34. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.41. Millrose Properties, Inc. has a 12 month low of $26.30 and a 12 month high of $36.00.

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

Millrose Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, July 6th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 10.8%. The ex-dividend date of this dividend was Monday, July 6th. This is a positive change from Millrose Properties's previous quarterly dividend of $0.76. Millrose Properties's payout ratio is 110.39%.

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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