Sumitomo Mitsui Trust Group Inc. Sells 36,106 Shares of Millrose Properties, Inc. $MRP

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Millrose Properties, Inc. (NYSE:MRP) by 21.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,486 shares of the company’s stock after selling 36,106 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.08% of Millrose Properties worth $4,453,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MRP. SG Americas Securities LLC bought a new position in Millrose Properties during the third quarter worth $885,000. Longboard Asset Management LP bought a new position in shares of Millrose Properties during the 3rd quarter worth about $219,000. Asset Management One Co. Ltd. raised its position in shares of Millrose Properties by 16.4% during the third quarter. Asset Management One Co. Ltd. now owns 201,388 shares of the company’s stock valued at $6,769,000 after buying an additional 28,398 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in shares of Millrose Properties in the third quarter valued at about $29,000. Finally, Ethic Inc. bought a new stake in shares of Millrose Properties in the third quarter valued at about $809,000.

Insiders Place Their Bets

In other news, Director Matthew B. Gorson acquired 2,500 shares of the company’s stock in a transaction dated Wednesday, October 29th. The stock was bought at an average price of $32.69 per share, with a total value of $81,725.00. Following the completion of the acquisition, the director owned 18,160 shares in the company, valued at approximately $593,650.40. This represents a 15.96% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carlos A. Migoya bought 1,000 shares of Millrose Properties stock in a transaction dated Wednesday, November 12th. The stock was acquired at an average cost of $32.24 per share, for a total transaction of $32,240.00. Following the completion of the acquisition, the director directly owned 16,766 shares in the company, valued at $540,535.84. This represents a 6.34% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 11,476 shares of company stock valued at $373,264.

Analyst Ratings Changes

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

Millrose Properties Price Performance

Millrose Properties stock opened at $30.96 on Monday. The business has a 50 day simple moving average of $30.51 and a 200 day simple moving average of $31.70. 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 capitalization of $5.14 billion and a PE ratio of 18.21. Millrose Properties, Inc. has a one year low of $19.00 and a one year high of $36.00.

Millrose Properties (NYSE:MRP) last released its quarterly earnings data 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 during the quarter.

Millrose Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, January 5th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 9.7%. This is a boost from Millrose Properties’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, January 5th. Millrose Properties’s dividend payout ratio (DPR) is presently 176.47%.

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.