SEB Asset Management AB Purchases New Position in Millrose Properties, Inc. $MRP

SEB Asset Management AB purchased a new position in Millrose Properties, Inc. (NYSE:MRP) in the first quarter, HoldingsChannel reports. The fund purchased 58,776 shares of the company’s stock, valued at approximately $1,646,000.

Several other institutional investors and hedge funds have also bought and sold shares of MRP. Sound Income Strategies LLC bought a new position in shares of Millrose Properties in the 4th quarter worth approximately $29,000. Root Financial Partners LLC lifted its stake in shares of Millrose Properties by 3,090.6% in 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 during the period. NewEdge Advisors LLC bought a new stake in shares of Millrose Properties during the first quarter valued at approximately $39,000. Caitong International Asset Management Co. Ltd boosted its position 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 valued at $44,000 after purchasing an additional 1,201 shares in the last quarter. Finally, Advisors Asset Management Inc. purchased a new stake in Millrose Properties in the first quarter worth $45,000.

Insider Transactions at Millrose Properties

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

Analysts Set New Price Targets

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

Millrose Properties Stock Down 1.1%

MRP stock opened at $28.29 on Friday. Millrose Properties, Inc. has a twelve month low of $26.30 and a twelve month high of $36.00. 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 firm has a market cap of $4.36 billion, a PE ratio of 10.14 and a beta of 0.34. The business has a 50 day moving average of $28.59 and a 200 day moving average of $29.41.

Millrose Properties (NYSE:MRP) last released its earnings results 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 company had revenue of $194.93 million during the quarter. The business’s quarterly revenue was up 135.7% compared to the same quarter last year.

Millrose Properties Increases Dividend

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

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.