Verition Fund Management LLC Increases Position in Millrose Properties, Inc. $MRP

Key Points

• Verition Fund Management boosted its Millrose Properties stake by 380.4% in Q4, while several other hedge funds also added or initiated positions in the REIT.
• Insiders have been buying shares aggressively: Director Matthew B. Gorson and insider Darren Richman made sizable purchases, and insiders bought 240,532 shares worth about $6.57 million over the last 90 days.
• Millrose Properties missed its latest earnings estimate, but revenue jumped 135.7% year over year; the company also raised its quarterly dividend to $0.76 per share, implying a 10.5% yield.

Verition Fund Management LLC grew its holdings in Millrose Properties, Inc. (NYSE:MRP - Free Report) by 380.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 509,082 shares of the company's stock after buying an additional 403,115 shares during the period. Verition Fund Management LLC owned 0.31% of Millrose Properties worth $15,206,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Saber Capital Managment LLC purchased a new stake in shares of Millrose Properties in the fourth quarter valued at about $1,297,000. Mariner LLC raised its holdings in shares of Millrose Properties by 12.3% in the fourth quarter. Mariner LLC now owns 24,270 shares of the company's stock valued at $725,000 after buying an additional 2,654 shares during the last quarter. FJ Capital Management LLC raised its holdings in shares of Millrose Properties by 83.6% in the fourth quarter. FJ Capital Management LLC now owns 53,978 shares of the company's stock valued at $1,612,000 after buying an additional 24,583 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Millrose Properties in the fourth quarter valued at about $1,621,000. Finally, Entropy Technologies LP raised its holdings in shares of Millrose Properties by 164.6% in the fourth quarter. Entropy Technologies LP now owns 87,928 shares of the company's stock valued at $2,626,000 after buying an additional 54,701 shares during the last quarter.

Insider Activity

In related news, Director Matthew B. Gorson bought 4,500 shares of the 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 transaction, the director owned 35,750 shares of the company's stock, valued at $963,820. This represents a 14.40% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Darren Richman bought 195,000 shares of the stock in a transaction on Monday, May 11th. The shares were bought at an average price of $27.31 per share, for a total transaction of $5,325,450.00. Following the completion of the transaction, the insider directly owned 416,000 shares of the company's stock, valued at $11,360,960. This trade represents a 88.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 240,532 shares of company stock worth $6,567,048 over the last 90 days. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on MRP. Wall Street Zen cut shares of Millrose Properties from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings lowered shares of Millrose Properties from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $37.67.

Millrose Properties Trading Down 0.4%

Shares of MRP opened at $29.02 on Tuesday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.41. The firm's 50-day moving average is $28.81 and its two-hundred day moving average is $29.73. Millrose Properties, Inc. has a twelve month low of $26.30 and a twelve month high of $36.00. The firm has a market capitalization of $4.47 billion, a P/E ratio of 10.40 and a beta of 0.40.

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

Millrose Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Friday, April 3rd were given a dividend of $0.76 per share. The ex-dividend date 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 yield of 10.5%. Millrose Properties's dividend payout ratio (DPR) is currently 108.96%.

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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