Hsbc Holdings PLC Buys Shares of 191,616 Millrose Properties, Inc. $MRP

Hsbc Holdings PLC bought a new position in Millrose Properties, Inc. (NYSE:MRP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 191,616 shares of the company’s stock, valued at approximately $5,713,000.

A number of other hedge funds also recently bought and sold shares of the company. Baird Financial Group Inc. acquired a new position in shares of Millrose Properties during the first quarter valued at about $224,000. Royal Bank of Canada bought a new stake in shares of Millrose Properties in the 1st quarter worth approximately $1,508,000. Advisors Asset Management Inc. acquired a new stake in shares of Millrose Properties during the 1st quarter worth approximately $45,000. NewEdge Advisors LLC bought a new stake in shares of Millrose Properties during the first quarter valued at approximately $39,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Millrose Properties in the first quarter valued at $18,093,000.

Millrose Properties Trading Up 0.4%

Shares of MRP opened at $28.30 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.41. The stock has a market cap of $4.36 billion, a PE ratio of 10.14 and a beta of 0.34. Millrose Properties, Inc. has a 1 year low of $26.30 and a 1 year high of $36.00. The stock has a 50 day simple moving average of $28.47 and a 200-day simple moving average of $29.50.

Millrose Properties (NYSE:MRP) last announced its quarterly 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). The company had revenue of $194.93 million during the quarter. Millrose Properties had a net margin of 64.96% and a return on equity of 7.90%. The company’s revenue for the quarter was up 135.7% on a year-over-year basis.

Millrose Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th will be issued a dividend of $0.77 per share. The ex-dividend date is Monday, July 6th. This is a boost from Millrose Properties’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a dividend yield of 10.9%. Millrose Properties’s dividend payout ratio (DPR) is currently 110.39%.

Insider Activity

In related news, insider Darren Richman acquired 195,000 shares of the stock in a transaction on 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 transaction, the insider owned 416,000 shares of the company’s stock, valued at $11,360,960. The trade was a 88.24% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew B. Gorson bought 4,500 shares of the company’s stock in a transaction on Monday, May 18th. The stock was bought 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 of the company’s stock, valued at approximately $963,820. The trade was a 14.40% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 240,532 shares of company stock worth $6,567,048. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented 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 cut shares of Millrose Properties from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $37.67.

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.