Thrivent Financial for Lutherans Purchases 187,243 Shares of Millrose Properties, Inc. $MRP

Key Points

• Thrivent Financial for Lutherans increased its Millrose Properties stake by 34.7% in Q4, buying 187,243 more shares and bringing its total to 726,605 shares worth about $21.7 million.
• Analyst sentiment remains generally positive, with the stock carrying a consensus “Buy” rating and a MarketBeat target price of $37.67, even after recent downgrades from Weiss Ratings and Wall Street Zen.
• Millrose Properties reported mixed operating results: revenue jumped 135.7% year over year to $194.93 million, but quarterly EPS of $0.74 fell short of expectations. The company also raised its quarterly dividend to $0.76 per share, implying an 11.4% yield.

Thrivent Financial for Lutherans lifted its holdings in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) by 34.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 726,605 shares of the company's stock after buying an additional 187,243 shares during the period. Thrivent Financial for Lutherans owned about 0.44% of Millrose Properties worth $21,703,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bessemer Group Inc. boosted its position in Millrose Properties by 9.9% in the third quarter. Bessemer Group Inc. now owns 3,506 shares of the company's stock valued at $119,000 after buying an additional 317 shares in the last quarter. Amalgamated Bank grew its position in Millrose Properties by 0.9% during the 3rd quarter. Amalgamated Bank now owns 36,731 shares of the company's stock worth $1,235,000 after acquiring an additional 334 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Millrose Properties by 0.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 125,165 shares of the company's stock worth $4,007,000 after acquiring an additional 338 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Millrose Properties by 55.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company's stock worth $34,000 after acquiring an additional 357 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in Millrose Properties by 33.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,503 shares of the company's stock worth $45,000 after acquiring an additional 380 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MRP shares. Weiss Ratings lowered Millrose Properties from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Wall Street Zen downgraded Millrose Properties from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $37.67.

Millrose Properties Stock Performance

Shares of MRP stock opened at $26.72 on Monday. Millrose Properties, Inc. has a one year low of $26.30 and a one year high of $36.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.34 and a quick ratio of 0.34. The business's 50 day simple moving average is $29.12 and its 200 day simple moving average is $30.18. The stock has a market capitalization of $4.12 billion, a PE ratio of 9.58 and a beta of 0.59.

Millrose Properties (NYSE:MRP - Get Free Report) last posted its quarterly earnings data 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). Millrose Properties had a return on equity of 7.90% and a net margin of 64.96%.The business had revenue of $194.93 million during the quarter. Millrose Properties's revenue for the quarter was up 135.7% compared to the same quarter last year.

Millrose Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Friday, April 3rd were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 11.4%. This is a boost from Millrose Properties's previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, April 2nd. Millrose Properties's payout ratio is presently 108.96%.

Insider Activity at Millrose Properties

In related news, insider Darren Richman bought 195,000 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $27.31 per share, with a total value of $5,325,450.00. Following the completion of the purchase, the insider directly owned 416,000 shares in the company, valued at $11,360,960. The trade was a 88.24% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew B. Gorson bought 1,000 shares of Millrose Properties stock in a transaction dated Thursday, March 5th. The stock was purchased at an average price of $30.66 per share, with a total value of $30,660.00. Following the completion of the purchase, the director owned 25,611 shares in the company, valued at $785,233.26. This trade represents a 4.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 237,032 shares of company stock worth $6,476,388. Insiders own 0.23% of the company's stock.

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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