Bank of New York Mellon Corp Makes New Investment in Millrose Properties, Inc. $MRP

Bank of New York Mellon Corp acquired a new stake in Millrose Properties, Inc. (NYSE:MRP) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,808,592 shares of the company’s stock, valued at approximately $54,348,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Millrose Properties by 16.3% during the fourth quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company’s stock worth $630,769,000 after buying an additional 2,960,066 shares during the last quarter. State Street Corp raised its position in Millrose Properties by 23.0% in the fourth quarter. State Street Corp now owns 5,080,719 shares of the company’s stock worth $151,761,000 after acquiring an additional 950,421 shares during the period. Permian Investment Partners LP boosted its stake in Millrose Properties by 116.4% in the fourth quarter. Permian Investment Partners LP now owns 3,794,312 shares of the company’s stock valued at $113,336,000 after acquiring an additional 2,040,900 shares during the last quarter. Cannell & Spears LLC boosted its stake in Millrose Properties by 1.4% in the first quarter. Cannell & Spears LLC now owns 3,677,754 shares of the company’s stock valued at $102,723,000 after acquiring an additional 49,702 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Millrose Properties during the 4th quarter valued at approximately $101,800,000.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MRP shares. Wall Street Zen lowered shares of Millrose Properties from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded Millrose Properties from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $37.67.

Millrose Properties Price Performance

Shares of NYSE MRP opened at $30.75 on Thursday. The stock has a market cap of $4.74 billion, a PE ratio of 10.71 and a beta of 0.39. Millrose Properties, Inc. has a fifty-two week low of $26.30 and a fifty-two week high of $36.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a fifty day moving average of $29.24 and a 200-day moving average of $29.30.

Millrose Properties (NYSE:MRP) last posted its earnings results on Tuesday, August 4th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.01. Millrose Properties had a return on equity of 8.13% and a net margin of 62.60%.The business had revenue of $196.85 million during the quarter.

Millrose Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, July 6th were issued a dividend of $0.77 per share. This is a boost from Millrose Properties’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Monday, July 6th. This represents a $3.08 dividend on an annualized basis and a yield of 10.0%. Millrose Properties’s payout ratio is currently 107.32%.

Insiders Place Their Bets

In related news, Director Matthew B. Gorson bought 3,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average cost of $28.80 per share, with a total value of $86,400.00. Following the completion of the purchase, the director directly owned 38,750 shares of the company’s stock, valued at $1,116,000. This trade represents a 8.39% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Carlos A. Migoya acquired 1,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were bought at an average cost of $29.18 per share, with a total value of $29,180.00. Following the completion of the acquisition, the director directly owned 30,075 shares in the company, valued at $877,588.50. The trade was a 3.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Company 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.