Allianz Asset Management GmbH Raises Position in Millrose Properties, Inc. $MRP

Allianz Asset Management GmbH increased its holdings in Millrose Properties, Inc. (NYSE:MRP) by 1,371.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 438,705 shares of the company’s stock after purchasing an additional 408,885 shares during the period. Allianz Asset Management GmbH owned 0.26% of Millrose Properties worth $14,745,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MRP. State Street Corp boosted its stake in Millrose Properties by 8.7% in the 2nd quarter. State Street Corp now owns 4,173,660 shares of the company’s stock worth $118,991,000 after buying an additional 333,686 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Millrose Properties by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,208,793 shares of the company’s stock worth $62,983,000 after acquiring an additional 44,506 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Millrose Properties by 0.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,790,629 shares of the company’s stock worth $60,183,000 after acquiring an additional 7,041 shares during the period. Moore Capital Management LP boosted its position in shares of Millrose Properties by 12.3% in the second quarter. Moore Capital Management LP now owns 1,258,936 shares of the company’s stock worth $35,892,000 after acquiring an additional 137,843 shares during the last quarter. Finally, Blue Whale Capital LLP grew its holdings in Millrose Properties by 103.2% in the second quarter. Blue Whale Capital LLP now owns 1,199,069 shares of the company’s stock valued at $34,185,000 after purchasing an additional 609,083 shares during the period.

Wall Street Analyst Weigh In

MRP has been the subject of several research analyst reports. Citigroup upped their price target on shares of Millrose Properties from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. BTIG Research assumed coverage on Millrose Properties in a report on Monday, December 1st. They set a “buy” rating and a $35.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Millrose Properties in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $36.90.

Millrose Properties Price Performance

MRP opened at $31.72 on Friday. Millrose Properties, Inc. has a 52-week low of $21.02 and a 52-week high of $36.00. The company has a 50 day moving average of $30.40 and a two-hundred day moving average of $31.76. The company has a market cap of $5.27 billion and a P/E ratio of 18.66. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.34.

Millrose Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, January 5th were given a dividend of $0.75 per share. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, January 5th. This represents a $3.00 dividend on an annualized basis and a yield of 9.5%. Millrose Properties’s dividend payout ratio is currently 176.47%.

Insider Transactions at Millrose Properties

In related news, Director Carlos A. Migoya acquired 1,000 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were bought at an average cost of $32.24 per share, with a total value of $32,240.00. Following the completion of the transaction, the director directly owned 16,766 shares of the company’s stock, valued at $540,535.84. This trade represents a 6.34% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.