Summit Global Investments Buys New Shares in Millrose Properties, Inc. $MRP

Summit Global Investments bought a new position in shares of Millrose Properties, Inc. (NYSE:MRP) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 39,286 shares of the company’s stock, valued at approximately $1,100,000.

A number of other large investors have also bought and sold shares of the stock. Parallel Advisors LLC raised its holdings in shares of Millrose Properties by 50.2% during the first quarter. Parallel Advisors LLC now owns 6,925 shares of the company’s stock valued at $194,000 after purchasing an additional 2,315 shares during the period. SEB Asset Management AB acquired a new stake in shares of Millrose Properties in the 1st quarter valued at about $1,646,000. Swiss National Bank grew its stake in shares of Millrose Properties by 25.5% in the 1st quarter. Swiss National Bank now owns 305,086 shares of the company’s stock valued at $8,542,000 after buying an additional 61,900 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its position in Millrose Properties by 1,201.2% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 3,162 shares of the company’s stock valued at $89,000 after buying an additional 2,919 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Millrose Properties in the 1st quarter valued at about $618,000.

Analysts Set New Price Targets

MRP has been the topic of a number of research reports. Weiss Ratings downgraded Millrose Properties from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wall Street Zen cut Millrose Properties from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $37.67.

Millrose Properties Price Performance

Shares of NYSE MRP opened at $28.32 on Wednesday. Millrose Properties, Inc. has a fifty-two week low of $26.30 and a fifty-two week high of $36.00. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 10.15 and a beta of 0.34. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.34 and a current ratio of 0.34. The firm’s 50-day simple moving average is $28.53 and its 200 day simple moving average is $29.43.

Millrose Properties (NYSE:MRP) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.03). The company had revenue of $194.93 million for the quarter. Millrose Properties had a net margin of 64.96% and a return on equity of 7.90%. Millrose Properties’s quarterly revenue was up 135.7% on a year-over-year basis.

Millrose Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, July 6th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, July 6th. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a dividend yield of 10.9%. Millrose Properties’s payout ratio is presently 110.39%.

Insider Activity at Millrose Properties

In related news, Director Matthew B. Gorson purchased 4,500 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average price of $26.96 per share, for a total transaction of $121,320.00. Following the completion of the acquisition, the director owned 35,750 shares of the company’s stock, valued at $963,820. This represents a 14.40% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Darren Richman purchased 195,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of $27.31 per share, with a total value of $5,325,450.00. Following the completion of the transaction, the insider directly owned 416,000 shares in the company, valued at $11,360,960. The trade was a 88.24% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 240,532 shares of company stock worth $6,567,048. 0.23% of the stock is owned by insiders.

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.