Texas Permanent School Fund Corp Invests $757,000 in Millrose Properties, Inc. $MRP

Texas Permanent School Fund Corp purchased a new position in shares of Millrose Properties, Inc. (NYSE:MRP) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 26,553 shares of the company’s stock, valued at approximately $757,000.

Other large investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Millrose Properties in the first quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB increased its position in Millrose Properties by 144.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 973 shares of the company’s stock worth $28,000 after acquiring an additional 575 shares during the period. First Financial Corp IN bought a new stake in Millrose Properties in the 2nd quarter valued at about $32,000. CX Institutional bought a new stake in Millrose Properties in the 2nd quarter valued at about $39,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Millrose Properties during the 1st quarter worth approximately $39,000.

Millrose Properties Stock Up 1.0%

NYSE:MRP opened at $30.08 on Friday. Millrose Properties, Inc. has a one year low of $19.00 and a one year high of $36.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.46 and a quick ratio of 0.46. The company has a market cap of $4.99 billion and a PE ratio of 17.69. The firm’s 50 day simple moving average is $31.22 and its 200 day simple moving average is $31.43.

Millrose Properties (NYSE:MRP) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $179.26 million for the quarter.

Millrose Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, January 5th will be given a $0.75 dividend. This is a boost from Millrose Properties’s previous quarterly dividend of $0.73. The ex-dividend date is Monday, January 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 10.0%. Millrose Properties’s dividend payout ratio is presently 171.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Citigroup lifted their price target on shares of Millrose Properties from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. BTIG Research began coverage on shares of Millrose Properties in a research note on Monday, December 1st. They set a “buy” rating and a $35.00 price objective on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Millrose Properties in a research note on Wednesday, October 8th. Citizens Jmp began coverage on shares of Millrose Properties in a research note on Wednesday, October 8th. They issued a “mkt outperform” rating and a $40.00 price objective for the company. Finally, JMP Securities assumed coverage on shares of Millrose Properties in a report on Wednesday, October 8th. They set a “market outperform” rating and a $40.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $36.90.

Insider Activity

In related news, Director Matthew B. Gorson bought 2,500 shares of Millrose Properties stock in a transaction that occurred on Wednesday, October 29th. The shares were acquired at an average cost of $32.69 per share, for a total transaction of $81,725.00. Following the completion of the acquisition, the director directly owned 18,160 shares of the company’s stock, valued at approximately $593,650.40. The trade was a 15.96% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Patrick J. Bartels, Jr. acquired 7,500 shares of Millrose Properties stock in a transaction dated Tuesday, October 28th. The stock was purchased at an average cost of $32.52 per share, for a total transaction of $243,900.00. Following the completion of the purchase, the director owned 30,660 shares in the company, valued at approximately $997,063.20. The trade was a 32.38% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 11,476 shares of company stock valued at $373,264.

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.