Bessemer Group Inc. Sells 118,588 Shares of Millrose Properties, Inc. $MRP

Bessemer Group Inc. lessened its position in shares of Millrose Properties, Inc. (NYSE:MRP) by 97.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,732 shares of the company’s stock after selling 118,588 shares during the period. Bessemer Group Inc.’s holdings in Millrose Properties were worth $76,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baird Financial Group Inc. bought a new position in Millrose Properties in the 1st quarter worth approximately $224,000. Royal Bank of Canada purchased a new stake in Millrose Properties during the 1st quarter worth about $1,508,000. Advisors Asset Management Inc. purchased a new stake in Millrose Properties during the 1st quarter worth about $45,000. NewEdge Advisors LLC bought a new position in Millrose Properties in the 1st quarter worth about $39,000. Finally, Goldman Sachs Group Inc. purchased a new position in Millrose Properties during the 1st quarter valued at about $18,093,000.

Millrose Properties Stock Performance

NYSE:MRP opened at $28.42 on Tuesday. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 10.19 and a beta of 0.34. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.34 and a quick ratio of 0.34. Millrose Properties, Inc. has a 1-year low of $26.30 and a 1-year high of $36.00. The business has a 50 day moving average of $28.65 and a 200 day moving average of $29.40.

Millrose Properties (NYSE:MRP) last issued its earnings results on Wednesday, May 6th. The company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.03). The company had revenue of $194.93 million for the quarter. Millrose Properties had a net margin of 64.96% and a return on equity of 7.90%. Millrose Properties’s revenue was up 135.7% compared to the same quarter last year.

Millrose Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th were issued a $0.77 dividend. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a dividend yield of 10.8%. The ex-dividend date was Monday, July 6th. Millrose Properties’s dividend payout ratio (DPR) is 110.39%.

Insider Buying and Selling at Millrose Properties

In other news, Director Matthew B. Gorson purchased 4,500 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was bought at an average cost of $26.96 per share, for a total transaction of $121,320.00. Following the acquisition, the director directly owned 35,750 shares of the company’s stock, valued at $963,820. This represents a 14.40% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Darren Richman purchased 195,000 shares of Millrose Properties stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $27.31 per share, for a total transaction of $5,325,450.00. Following the acquisition, the insider owned 416,000 shares in the company, valued at $11,360,960. This trade represents a 88.24% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 240,532 shares of company stock worth $6,567,048. 0.23% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on MRP shares. Weiss Ratings cut shares of Millrose Properties from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Millrose Properties from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $37.67.

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.