Vanguard Group Inc. Raises Stake in Millrose Properties, Inc. $MRP

Key Points

• Vanguard increased its stake in Millrose Properties by 16.3% in Q4 to 21,117,152 shares, representing a 12.72% ownership stake valued at about $630.8 million.
• Millrose raised its quarterly dividend to $0.76 (annualized $3.04) for a 10.0% yield, though the payout ratio is high at 124.59%, which may raise sustainability concerns.
• The company reported Q4 EPS of $0.74 on $189.5 million in revenue, the stock trades at a P/E of 12.46 with a $5.05 billion market cap, and analysts' consensus is a "Buy" with an average price target of $36.13.

Vanguard Group Inc. boosted its holdings in Millrose Properties, Inc. (NYSE:MRP - Free Report) by 16.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,117,152 shares of the company's stock after acquiring an additional 2,960,066 shares during the quarter. Vanguard Group Inc. owned 12.72% of Millrose Properties worth $630,769,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. M&T Bank Corp increased its stake in Millrose Properties by 607.9% in the 4th quarter. M&T Bank Corp now owns 44,237 shares of the company's stock worth $1,321,000 after acquiring an additional 37,988 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Millrose Properties by 79.4% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 15,817 shares of the company's stock worth $474,000 after acquiring an additional 7,000 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in Millrose Properties during the 4th quarter worth approximately $535,000. Asset Management One Co. Ltd. grew its position in Millrose Properties by 21.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 245,213 shares of the company's stock worth $7,332,000 after acquiring an additional 43,825 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Millrose Properties by 33.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,605 shares of the company's stock worth $108,000 after buying an additional 903 shares during the last quarter.

Insider Transactions at Millrose Properties

In related news, Director Matthew B. Gorson purchased 1,000 shares of the business's stock in a transaction on Thursday, March 5th. The stock was acquired at an average price of $30.66 per share, with a total value of $30,660.00. Following the completion of the acquisition, the director owned 25,611 shares of the company's stock, valued at approximately $785,233.26. This trade represents a 4.06% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.23% of the company's stock.

Millrose Properties Stock Up 0.1%

MRP stock opened at $30.41 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.35 and a quick ratio of 0.35. Millrose Properties, Inc. has a 1-year low of $25.22 and a 1-year high of $36.00. The stock has a market capitalization of $5.05 billion, a P/E ratio of 12.46 and a beta of 0.59. The business has a fifty day moving average price of $29.76 and a 200-day moving average price of $30.51.

Millrose Properties (NYSE:MRP - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. Millrose Properties had a return on equity of 6.90% and a net margin of 67.42%.The company had revenue of $189.50 million during the quarter.

Millrose Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Friday, April 3rd were issued a $0.76 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This is an increase from Millrose Properties's previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a dividend yield of 10.0%. Millrose Properties's dividend payout ratio is presently 124.59%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of Millrose Properties in a research report on Thursday, January 22nd. Wall Street Zen upgraded 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 assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target 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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