New York State Teachers Retirement System Increases Position in Millrose Properties, Inc. $MRP

New York State Teachers Retirement System grew its stake in Millrose Properties, Inc. (NYSE:MRP) by 16.8% during the fourth quarter, HoldingsChannel reports. The fund owned 138,162 shares of the company’s stock after acquiring an additional 19,871 shares during the quarter. New York State Teachers Retirement System’s holdings in Millrose Properties were worth $4,127,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC purchased a new position in shares of Millrose Properties in the 4th quarter valued at $29,000. Smartleaf Asset Management LLC boosted its position in shares of Millrose Properties by 55.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock worth $34,000 after purchasing an additional 357 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Millrose Properties by 95.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,123 shares of the company’s stock worth $38,000 after buying an additional 547 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Millrose Properties by 984.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,323 shares of the company’s stock worth $44,000 after buying an additional 1,201 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new position in Millrose Properties during the 1st quarter worth $39,000.

Millrose Properties Stock Down 6.5%

Shares of MRP stock opened at $28.13 on Thursday. Millrose Properties, Inc. has a 1-year low of $25.22 and a 1-year high of $36.00. The stock’s fifty day moving average price is $29.69 and its 200 day moving average price is $30.47. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 11.53 and a beta of 0.59.

Millrose Properties (NYSE:MRP) last announced 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 6.90% and a net margin of 67.42%.The business had revenue of $194.93 million for the quarter. The company’s quarterly revenue was up 135.7% compared to the same quarter last year.

Millrose Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Friday, April 3rd were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 10.8%. The ex-dividend date was Thursday, April 2nd. This is a boost from Millrose Properties’s previous quarterly dividend of $0.75. Millrose Properties’s dividend payout ratio (DPR) is presently 124.59%.

Analyst Upgrades and Downgrades

MRP has been the topic of several research analyst reports. Wall Street Zen upgraded Millrose Properties from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Millrose Properties in a research note on Thursday, January 22nd. One research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $36.13.

Insiders Place Their Bets

In other news, Director Matthew B. Gorson purchased 1,000 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were acquired at an average price of $30.66 per share, for a total transaction of $30,660.00. Following the purchase, the director owned 25,611 shares in the company, valued at $785,233.26. This trade represents a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.

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.