American Century Companies Inc. Buys 332,733 Shares of Millrose Properties, Inc. $MRP

American Century Companies Inc. lifted its stake in shares of Millrose Properties, Inc. (NYSE:MRP) by 1,396.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 356,552 shares of the company’s stock after acquiring an additional 332,733 shares during the quarter. American Century Companies Inc. owned about 0.21% of Millrose Properties worth $10,165,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MRP. MassMutual Private Wealth & Trust FSB lifted its holdings in Millrose Properties by 144.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 973 shares of the company’s stock worth $28,000 after purchasing an additional 575 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Millrose Properties in the first quarter valued at approximately $27,000. Summit Securities Group LLC bought a new position in shares of Millrose Properties in the first quarter valued at approximately $28,000. William B. Walkup & Associates Inc. acquired a new stake in shares of Millrose Properties in the first quarter worth $29,000. Finally, First Financial Corp IN acquired a new stake in shares of Millrose Properties in the second quarter worth $32,000.

Insider Transactions at Millrose Properties

In other news, Director Patrick J. Bartels, Jr. bought 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The stock was acquired at an average price of $32.52 per share, for a total transaction of $243,900.00. Following the transaction, the director directly owned 30,660 shares of the company’s stock, valued at $997,063.20. This trade represents a 32.38% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Matthew B. Gorson purchased 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were purchased at an average cost of $32.69 per share, with a total value of $81,725.00. Following the completion of the acquisition, the director directly owned 18,160 shares in the company, valued at $593,650.40. The trade was a 15.96% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 11,476 shares of company stock valued at $373,264.

Millrose Properties Trading Down 1.7%

MRP stock opened at $31.45 on Friday. Millrose Properties, Inc. has a 1-year low of $19.00 and a 1-year high of $36.00. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $31.77 and its 200-day moving average is $31.15. The firm has a market cap of $5.22 billion and a P/E ratio of 18.50.

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

Millrose Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Friday, October 3rd were paid a $0.73 dividend. The ex-dividend date was Friday, October 3rd. This represents a $2.92 annualized dividend and a dividend yield of 9.3%. This is a boost from Millrose Properties’s previous quarterly dividend of $0.69. Millrose Properties’s dividend payout ratio is presently 171.76%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MRP shares. Citigroup raised their target price on shares of Millrose Properties from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Millrose Properties in a research note on Wednesday, October 8th. JMP Securities assumed coverage on Millrose Properties in a research note on Wednesday, October 8th. They set a “market outperform” rating and a $40.00 target price for the company. Citizens Jmp began coverage on Millrose Properties in a report on Wednesday, October 8th. They issued a “mkt outperform” rating and a $40.00 target price on the stock. Finally, BTIG Research began coverage on Millrose Properties in a report on Monday. They set a “buy” rating and a $35.00 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 issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $36.90.

Millrose Properties Profile

Millrose Properties, Inc is a real estate investment and management company that focuses on acquiring, developing, and managing high-quality commercial properties. They are headquartered in Purchase, New York.