Norges Bank Makes New Investment in Millrose Properties, Inc. $MRP

Norges Bank bought a new position in Millrose Properties, Inc. (NYSE:MRP) in the 4th quarter, HoldingsChannel reports. The fund bought 3,408,096 shares of the company’s stock, valued at approximately $101,800,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MRP. Sound Income Strategies LLC bought a new position in Millrose Properties in the 4th quarter worth about $29,000. Smartleaf Asset Management LLC grew its position in Millrose Properties by 55.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock worth $34,000 after purchasing an additional 357 shares during the last quarter. NewEdge Advisors LLC bought a new position in Millrose Properties in the 1st quarter worth about $39,000. Caitong International Asset Management Co. Ltd grew its position in Millrose Properties by 984.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,323 shares of the company’s stock worth $44,000 after purchasing an additional 1,201 shares during the last quarter. Finally, Advisors Asset Management Inc. bought a new position in Millrose Properties in the 1st quarter worth about $45,000.

Insider Activity at Millrose Properties

In related news, insider Darren Richman acquired 195,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $27.31 per share, for a total transaction of $5,325,450.00. Following the completion of the acquisition, the insider directly owned 416,000 shares of the company’s stock, valued at approximately $11,360,960. The trade was a 88.24% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Matthew B. Gorson bought 4,500 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were acquired 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 240,532 shares of company stock valued at $6,567,048 over the last quarter. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on MRP. 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. Wall Street Zen cut shares of Millrose Properties from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. 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 company’s stock. According to MarketBeat, Millrose Properties presently has an average rating of “Buy” and a consensus price target of $37.67.

Millrose Properties Trading Up 0.4%

Millrose Properties stock opened at $28.93 on Friday. The firm has a 50 day simple moving average of $28.69 and a 200-day simple moving average of $29.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.34 and a quick ratio of 0.34. The stock has a market capitalization of $4.46 billion, a PE ratio of 10.37 and a beta of 0.40. Millrose Properties, Inc. has a 12-month low of $26.30 and a 12-month high of $36.00.

Millrose Properties (NYSE:MRP) last posted its quarterly earnings data 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 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 firm’s revenue was up 135.7% compared to the same quarter last year.

Millrose Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Friday, April 3rd were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 10.5%. This is a boost from Millrose Properties’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, April 2nd. Millrose Properties’s payout ratio is 108.96%.

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.