Teacher Retirement System of Texas Buys 187,662 Shares of Millrose Properties, Inc. $MRP

Teacher Retirement System of Texas raised its stake in shares of Millrose Properties, Inc. (NYSE:MRP) by 36.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 695,641 shares of the company’s stock after buying an additional 187,662 shares during the quarter. Teacher Retirement System of Texas owned about 0.42% of Millrose Properties worth $23,380,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Parkside Financial Bank & Trust increased its holdings in shares of Millrose Properties by 588.9% during the third quarter. Parkside Financial Bank & Trust now owns 1,922 shares of the company’s stock valued at $65,000 after acquiring an additional 1,643 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Millrose Properties during the 3rd quarter valued at about $296,000. Pacific Heights Asset Management LLC increased its stake in Millrose Properties by 42.9% during the 3rd quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the company’s stock valued at $16,805,000 after purchasing an additional 150,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Millrose Properties by 0.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 125,165 shares of the company’s stock worth $4,007,000 after buying an additional 338 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in shares of Millrose Properties by 0.9% in the third quarter. Amalgamated Bank now owns 36,731 shares of the company’s stock worth $1,235,000 after buying an additional 334 shares in the last quarter.

Millrose Properties Trading Down 1.5%

NYSE:MRP opened at $30.19 on Friday. The company has a market cap of $5.01 billion and a PE ratio of 17.76. 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 50 day simple moving average of $30.42 and a two-hundred day simple moving average of $31.74. Millrose Properties, Inc. has a 12 month low of $19.00 and a 12 month high of $36.00.

Millrose Properties (NYSE:MRP) last released its quarterly earnings results on Thursday, October 23rd. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $179.26 million for the quarter.

Millrose Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors 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 9.9%. This is an increase from Millrose Properties’s previous quarterly dividend of $0.73. Millrose Properties’s payout ratio is 176.47%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

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

Millrose Properties 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.