Lazard Asset Management LLC Raises Holdings in Millrose Properties, Inc. $MRP

Lazard Asset Management LLC grew its stake in shares of Millrose Properties, Inc. (NYSE:MRP) by 60.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,509 shares of the company’s stock after acquiring an additional 28,428 shares during the quarter. Lazard Asset Management LLC’s holdings in Millrose Properties were worth $2,114,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MRP. Sound Income Strategies LLC acquired a new stake in Millrose Properties in the 4th quarter worth approximately $29,000. Root Financial Partners LLC increased its stake in Millrose Properties by 3,090.6% during the 4th quarter. Root Financial Partners LLC now owns 1,021 shares of the company’s stock valued at $30,000 after purchasing an additional 989 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Millrose Properties in the first quarter worth $39,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Millrose Properties by 984.4% during the third 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 period. Finally, Farther Finance Advisors LLC lifted its stake in shares of Millrose Properties by 33.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,503 shares of the company’s stock worth $45,000 after buying an additional 380 shares during the period.

Insider Buying and Selling

In other news, Director Matthew B. Gorson bought 4,500 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was purchased at an average cost of $26.96 per share, with a total value of $121,320.00. Following the acquisition, the director directly owned 35,750 shares in the company, valued at $963,820. This trade represents a 14.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Darren Richman bought 195,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $27.31 per share, with a total value of $5,325,450.00. Following the completion of the purchase, the insider owned 416,000 shares in the company, valued at approximately $11,360,960. This trade represents a 88.24% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 240,532 shares of company stock valued at $6,567,048 over the last three months. 0.23% of the stock is currently owned by corporate insiders.

Millrose Properties Trading Up 0.1%

NYSE MRP opened at $28.00 on Monday. The company has a fifty day moving average of $28.72 and a 200 day moving average of $29.35. The company has a market capitalization of $4.32 billion, a PE ratio of 10.03 and a beta of 0.39. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.34 and a quick ratio of 0.34. Millrose Properties, Inc. has a 1 year low of $26.30 and a 1 year high of $36.00.

Millrose Properties (NYSE:MRP) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.74 earnings per share 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%. The firm’s revenue for the quarter was up 135.7% on a year-over-year basis.

Millrose Properties Increases Dividend

The business also recently declared 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. This is an increase from Millrose Properties’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a yield of 11.0%. The ex-dividend date was Monday, July 6th. Millrose Properties’s dividend payout ratio (DPR) is 110.39%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MRP. Wall Street Zen downgraded Millrose Properties from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings cut Millrose Properties from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $37.67.

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.