Lazard Asset Management LLC Increases Position in Millrose Properties, Inc. $MRP

Lazard Asset Management LLC increased its holdings in Millrose Properties, Inc. (NYSE:MRP) by 60.4% in the first quarter, HoldingsChannel.com reports. The firm owned 75,509 shares of the company’s stock after buying an additional 28,428 shares during the quarter. Lazard Asset Management LLC’s holdings in Millrose Properties were worth $2,114,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MRP. Vanguard Group Inc. grew its holdings in Millrose Properties by 16.3% in the fourth quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company’s stock valued at $630,769,000 after purchasing an additional 2,960,066 shares during the period. State Street Corp increased its position in shares of Millrose Properties by 23.0% in the fourth quarter. State Street Corp now owns 5,080,719 shares of the company’s stock valued at $151,761,000 after buying an additional 950,421 shares in the last quarter. Permian Investment Partners LP raised its stake in shares of Millrose Properties by 116.4% during the 4th quarter. Permian Investment Partners LP now owns 3,794,312 shares of the company’s stock worth $113,336,000 after buying an additional 2,040,900 shares during the period. Cannell & Spears LLC raised its stake in shares of Millrose Properties by 1.4% during the 1st quarter. Cannell & Spears LLC now owns 3,677,754 shares of the company’s stock worth $102,723,000 after buying an additional 49,702 shares during the period. Finally, Norges Bank purchased a new position in shares of Millrose Properties during the 4th quarter valued at approximately $101,800,000.

Analysts Set New Price Targets

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

Millrose Properties Trading Up 0.1%

Shares of Millrose Properties stock opened at $28.00 on Monday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.41. Millrose Properties, Inc. has a twelve month low of $26.30 and a twelve month high of $36.00. The firm has a market capitalization of $4.32 billion, a PE ratio of 10.03 and a beta of 0.39. The firm’s 50-day moving average price is $28.72 and its 200 day moving average price is $29.35.

Millrose Properties (NYSE:MRP) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.74 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 firm had revenue of $194.93 million for the quarter. The firm’s revenue for the quarter 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, July 15th. Stockholders of record on Monday, July 6th were paid a $0.77 dividend. This is a boost from Millrose Properties’s previous quarterly dividend of $0.76. This represents a $3.08 dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date of this dividend was Monday, July 6th. Millrose Properties’s dividend payout ratio is presently 110.39%.

Insider Buying and Selling

In other news, insider Darren Richman purchased 40,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $27.31 per share, for a total transaction of $1,092,400.00. Following the completion of the transaction, the insider owned 84,000 shares of the company’s stock, valued at $2,294,040. This trade represents a 90.91% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Matthew B. Gorson acquired 4,500 shares of Millrose Properties stock in a transaction that occurred on 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 completion of the purchase, the director owned 35,750 shares in the company, valued at $963,820. The trade was a 14.40% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 240,532 shares of company stock worth $6,567,048 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

About Millrose Properties

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.