Texas Permanent School Fund Corp Invests $757,000 in Millrose Properties, Inc. $MRP

Texas Permanent School Fund Corp purchased a new stake in Millrose Properties, Inc. (NYSE:MRP) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 26,553 shares of the company’s stock, valued at approximately $757,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Brave Warrior Advisors LLC bought a new position in shares of Millrose Properties in the 1st quarter worth $210,988,000. The Manufacturers Life Insurance Company purchased a new position in shares of Millrose Properties in the 1st quarter worth approximately $84,773,000. Newtyn Management LLC bought a new position in shares of Millrose Properties in the first quarter valued at approximately $53,020,000. AQR Capital Management LLC purchased a new stake in shares of Millrose Properties during the first quarter valued at approximately $48,429,000. Finally, Smead Capital Management Inc. bought a new stake in Millrose Properties during the first quarter worth $31,446,000.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BTIG Research began coverage on shares of Millrose Properties in a report on Monday, December 1st. They issued a “buy” rating and a $35.00 price target on the stock. JMP Securities began coverage on Millrose Properties in a research note on Wednesday, October 8th. They set a “market outperform” rating and a $40.00 price objective on the stock. Citizens Jmp started coverage on shares of Millrose Properties in a report on Wednesday, October 8th. They issued a “mkt outperform” rating and a $40.00 price target on the stock. Citigroup boosted their price objective on shares of Millrose Properties from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Millrose Properties in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $36.90.

Millrose Properties Stock Performance

Shares of MRP opened at $30.08 on Friday. Millrose Properties, Inc. has a 12-month low of $19.00 and a 12-month high of $36.00. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34. The company has a market cap of $4.99 billion and a PE ratio of 17.69. The stock has a 50-day moving average price of $31.22 and a 200-day moving average price of $31.43.

Millrose Properties (NYSE:MRP) last announced its earnings results on Thursday, October 23rd. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The company had revenue of $179.26 million for the quarter.

Millrose Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, January 5th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, January 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 10.0%. This is an increase from Millrose Properties’s previous quarterly dividend of $0.73. Millrose Properties’s payout ratio is presently 171.76%.

Insiders Place Their Bets

In other news, Director Matthew B. Gorson acquired 2,500 shares of the business’s stock in a transaction dated Wednesday, October 29th. The stock was purchased at an average cost of $32.69 per share, for a total transaction of $81,725.00. Following the acquisition, the director owned 18,160 shares of the company’s stock, valued at $593,650.40. This trade represents a 15.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick J. Bartels, Jr. bought 7,500 shares of the business’s stock in a transaction on Tuesday, October 28th. The stock was purchased at an average cost of $32.52 per share, with a total value of $243,900.00. Following the purchase, the director owned 30,660 shares of the company’s stock, valued at $997,063.20. This represents a 32.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 11,476 shares of company stock valued at $373,264 over the last 90 days.

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.