Pacific Heights Asset Management LLC Has $16.81 Million Position in Millrose Properties, Inc. $MRP

Pacific Heights Asset Management LLC lifted its position in shares of Millrose Properties, Inc. (NYSE:MRP) by 42.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 500,000 shares of the company’s stock after purchasing an additional 150,000 shares during the period. Pacific Heights Asset Management LLC owned 0.30% of Millrose Properties worth $16,805,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its stake in Millrose Properties by 144.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 973 shares of the company’s stock valued at $28,000 after purchasing an additional 575 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in Millrose Properties in the third quarter valued at approximately $29,000. Farther Finance Advisors LLC lifted its position in shares of Millrose Properties by 95.0% in the third quarter. Farther Finance Advisors LLC now owns 1,123 shares of the company’s stock valued at $38,000 after buying an additional 547 shares during the last quarter. CX Institutional acquired a new stake in shares of Millrose Properties in the second quarter valued at approximately $39,000. Finally, NewEdge Advisors LLC bought a new position in shares of Millrose Properties during the 1st quarter worth approximately $39,000.

Millrose Properties Stock Performance

MRP opened at $30.96 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.46 and a quick ratio of 0.46. The business has a fifty day simple moving average of $30.50 and a 200 day simple moving average of $31.72. Millrose Properties, Inc. has a 1 year low of $19.00 and a 1 year high of $36.00. The company has a market capitalization of $5.14 billion and a PE ratio of 18.21.

Millrose Properties (NYSE:MRP) last posted 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 firm had revenue of $179.26 million during the quarter.

Millrose Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, January 5th were issued a $0.75 dividend. The ex-dividend date of this dividend was Monday, January 5th. This represents a $3.00 dividend on an annualized basis and a yield of 9.7%. This is an increase from Millrose Properties’s previous quarterly dividend of $0.73. Millrose Properties’s payout ratio is presently 176.47%.

Insiders Place Their Bets

In related news, Director Patrick J. Bartels, Jr. purchased 7,500 shares of Millrose Properties stock in a transaction that occurred on Tuesday, October 28th. The shares were acquired at an average price of $32.52 per share, with a total value of $243,900.00. Following the completion of the transaction, the director directly owned 30,660 shares of the company’s stock, valued at $997,063.20. This represents a 32.38% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carlos A. Migoya acquired 1,000 shares of the stock in a transaction on Wednesday, November 12th. The shares were bought at an average price of $32.24 per share, for a total transaction of $32,240.00. Following the purchase, the director owned 16,766 shares in the company, valued at approximately $540,535.84. This trade represents a 6.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 11,476 shares of company stock worth $373,264 in the last quarter.

Analysts Set New Price Targets

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

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.