Cannell & Spears LLC Has $102.72 Million Position in Millrose Properties, Inc. $MRP

Cannell & Spears LLC lifted its holdings in Millrose Properties, Inc. (NYSE:MRP) by 1.4% in the 1st quarter, Holdings Channel reports. The firm owned 3,677,754 shares of the company’s stock after acquiring an additional 49,702 shares during the period. Millrose Properties accounts for 2.0% of Cannell & Spears LLC’s portfolio, making the stock its 9th biggest holding. Cannell & Spears LLC’s holdings in Millrose Properties were worth $102,723,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Millrose Properties by 16.3% in the 4th 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 of Alaska Department of Revenue boosted its holdings in shares of Millrose Properties by 24.4% during the 4th quarter. State of Alaska Department of Revenue now owns 180,194 shares of the company’s stock valued at $5,381,000 after acquiring an additional 35,304 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Millrose Properties by 7.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,928,856 shares of the company’s stock valued at $57,615,000 after acquiring an additional 138,227 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Millrose Properties in the fourth quarter worth approximately $2,514,000. Finally, Thrivent Financial for Lutherans grew its stake in shares of Millrose Properties by 34.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 726,605 shares of the company’s stock worth $21,703,000 after acquiring an additional 187,243 shares during the period.

Insider Buying and Selling

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

Millrose Properties Stock Up 1.0%

MRP stock opened at $28.55 on Friday. Millrose Properties, Inc. has a fifty-two week low of $26.30 and a fifty-two week high of $36.00. The business’s 50-day moving average is $28.62 and its two-hundred day moving average is $29.41. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market cap of $4.40 billion, a price-to-earnings ratio of 10.23 and a beta of 0.34.

Millrose Properties (NYSE:MRP) last announced its 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). The firm had revenue of $194.93 million during the quarter. Millrose Properties had a return on equity of 7.90% and a net margin of 64.96%.The business’s revenue was up 135.7% compared to the same quarter last year.

Millrose Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, July 6th were issued a $0.77 dividend. The ex-dividend date of this dividend was Monday, July 6th. This is a positive change 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 10.8%. Millrose Properties’s payout ratio is 110.39%.

Analyst Ratings Changes

A number of research analysts recently weighed in on MRP shares. Weiss Ratings downgraded shares of Millrose Properties from a “hold (c+)” rating to a “hold (c)” rating in a research 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 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 stock. According to MarketBeat, Millrose Properties presently has a consensus rating of “Buy” and a consensus target price of $37.67.

Millrose Properties 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.