Summit Global Investments Makes New $1.10 Million Investment in Millrose Properties, Inc. $MRP

Summit Global Investments acquired a new stake in Millrose Properties, Inc. (NYSE:MRP) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 39,286 shares of the company’s stock, valued at approximately $1,100,000.

Several other hedge funds have also recently modified their holdings of MRP. Parallel Advisors LLC boosted its stake in shares of Millrose Properties by 50.2% in the 1st quarter. Parallel Advisors LLC now owns 6,925 shares of the company’s stock worth $194,000 after buying an additional 2,315 shares during the last quarter. SEB Asset Management AB purchased a new stake in shares of Millrose Properties during the first quarter valued at approximately $1,646,000. Swiss National Bank increased its position in shares of Millrose Properties by 25.5% during the first quarter. Swiss National Bank now owns 305,086 shares of the company’s stock valued at $8,542,000 after acquiring an additional 61,900 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Millrose Properties by 1,201.2% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 3,162 shares of the company’s stock valued at $89,000 after acquiring an additional 2,919 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Millrose Properties during the first quarter worth $618,000.

Analysts Set New Price Targets

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

Insider Buying and Selling at Millrose Properties

In other news, insider Darren Richman bought 40,000 shares of the stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $27.31 per share, for a total transaction of $1,092,400.00. Following the completion of the purchase, the insider directly owned 84,000 shares in the company, valued at $2,294,040. This represents a 90.91% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew B. Gorson purchased 4,500 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were purchased at an average cost of $26.96 per share, for a total transaction of $121,320.00. Following the transaction, the director directly owned 35,750 shares in the company, valued at approximately $963,820. The trade was a 14.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 240,532 shares of company stock worth $6,567,048. Corporate insiders own 0.23% of the company’s stock.

Millrose Properties Stock Down 1.7%

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

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

Millrose Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, July 6th were given a $0.77 dividend. This is an increase from Millrose Properties’s previous quarterly dividend of $0.76. This represents a $3.08 dividend on an annualized basis and a yield of 10.9%. The ex-dividend date of this dividend was Monday, July 6th. Millrose Properties’s dividend payout ratio (DPR) is 110.39%.

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.