Moore Capital Management LP Has $9.13 Million Holdings in Millrose Properties, Inc. $MRP

Moore Capital Management LP trimmed its holdings in shares of Millrose Properties, Inc. (NYSE:MRP) by 78.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 271,610 shares of the company’s stock after selling 987,326 shares during the quarter. Moore Capital Management LP’s holdings in Millrose Properties were worth $9,129,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Baird Financial Group Inc. bought a new stake in shares of Millrose Properties in the 1st quarter valued at $224,000. Royal Bank of Canada bought a new position in Millrose Properties during the first quarter worth $1,508,000. Advisors Asset Management Inc. acquired a new stake in Millrose Properties in the first quarter worth $45,000. NewEdge Advisors LLC acquired a new stake in Millrose Properties in the first quarter worth $39,000. Finally, Goldman Sachs Group Inc. bought a new stake in Millrose Properties in the first quarter valued at $18,093,000.

Insider Activity

In other Millrose Properties news, Director Matthew B. Gorson bought 1,000 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was bought at an average cost of $30.66 per share, with a total value of $30,660.00. Following the completion of the transaction, the director directly owned 25,611 shares in the company, valued at approximately $785,233.26. The trade was a 4.06% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MRP. BTIG Research assumed coverage on shares of Millrose Properties in a report on Monday, December 1st. They set a “buy” rating and a $35.00 price objective on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Millrose Properties in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $36.13.

Millrose Properties Price Performance

Shares of NYSE:MRP opened at $29.21 on Tuesday. Millrose Properties, Inc. has a twelve month low of $21.42 and a twelve month high of $36.00. The stock’s 50 day moving average is $30.49 and its 200-day moving average is $31.51. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $4.85 billion and a price-to-earnings ratio of 11.97.

Millrose Properties (NYSE:MRP) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $189.50 million during the quarter. Millrose Properties had a net margin of 67.42% and a return on equity of 6.90%.

Millrose Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, January 5th were issued a dividend of $0.75 per share. This is an increase from Millrose Properties’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date was Monday, January 5th. Millrose Properties’s dividend payout ratio is 122.95%.

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.