Algert Global LLC Raises Stake in Millrose Properties, Inc. $MRP

Algert Global LLC increased its position in Millrose Properties, Inc. (NYSE:MRP) by 14.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 633,616 shares of the company’s stock after buying an additional 80,320 shares during the period. Algert Global LLC owned about 0.38% of Millrose Properties worth $21,296,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Allianz Asset Management GmbH boosted its stake in Millrose Properties by 1,371.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 438,705 shares of the company’s stock worth $14,745,000 after buying an additional 408,885 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in shares of Millrose Properties during the 3rd quarter valued at about $6,029,000. Hodges Capital Management Inc. increased its stake in shares of Millrose Properties by 180.0% during the 3rd quarter. Hodges Capital Management Inc. now owns 80,722 shares of the company’s stock valued at $2,713,000 after acquiring an additional 51,892 shares during the last quarter. First Dallas Securities Inc. lifted its holdings in shares of Millrose Properties by 62.0% during the 3rd quarter. First Dallas Securities Inc. now owns 92,299 shares of the company’s stock worth $3,102,000 after acquiring an additional 35,319 shares during the period. Finally, Gabelli Funds LLC lifted its holdings in shares of Millrose Properties by 34.9% during the 3rd quarter. Gabelli Funds LLC now owns 524,366 shares of the company’s stock worth $17,624,000 after acquiring an additional 135,523 shares during the period.

Insider Activity

In related news, Director Matthew B. Gorson bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were acquired at an average cost of $30.66 per share, for a total transaction of $30,660.00. Following the acquisition, the director owned 25,611 shares in the company, valued at $785,233.26. This represents a 4.06% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Millrose Properties Price Performance

MRP opened at $28.28 on Friday. Millrose Properties, Inc. has a 52-week low of $21.28 and a 52-week high of $36.00. The company has a 50 day moving average of $30.50 and a two-hundred day moving average of $31.58. The company has a market cap of $4.69 billion and a P/E ratio of 11.59. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.36.

Millrose Properties (NYSE:MRP) last posted its earnings results on Thursday, February 26th. The company reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. Millrose Properties had a net margin of 67.42% and a return on equity of 6.90%. The business had revenue of $189.50 million for the quarter.

Millrose Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, January 5th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 10.6%. This is an increase from Millrose Properties’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, January 5th. Millrose Properties’s payout ratio is 122.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MRP shares. BTIG Research began coverage on shares of Millrose Properties in a report on Monday, December 1st. They issued a “buy” rating and a $35.00 target price for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Millrose Properties in a report on Thursday, January 22nd. One equities research 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $36.13.

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.