Callodine Capital Management LP Boosts Position in Millrose Properties, Inc. $MRP

Callodine Capital Management LP increased its position in shares of Millrose Properties, Inc. (NYSE:MRP) by 110.8% during the 1st quarter, HoldingsChannel reports. The fund owned 762,392 shares of the company’s stock after acquiring an additional 400,745 shares during the quarter. Millrose Properties comprises approximately 1.5% of Callodine Capital Management LP’s portfolio, making the stock its 23rd biggest holding. Callodine Capital Management LP’s holdings in Millrose Properties were worth $21,347,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MRP. Norges Bank purchased a new position in Millrose Properties during the fourth quarter worth about $101,800,000. Vanguard Group Inc. boosted its holdings in Millrose Properties by 16.3% in the 4th quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company’s stock valued at $630,769,000 after purchasing an additional 2,960,066 shares during the last quarter. Permian Investment Partners LP grew its stake in shares of Millrose Properties by 116.4% in the 4th quarter. Permian Investment Partners LP now owns 3,794,312 shares of the company’s stock valued at $113,336,000 after buying an additional 2,040,900 shares during the period. State Street Corp grew its stake in shares of Millrose Properties by 23.0% in the 4th quarter. State Street Corp now owns 5,080,719 shares of the company’s stock valued at $151,761,000 after buying an additional 950,421 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Millrose Properties by 44.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,939,771 shares of the company’s stock worth $98,806,000 after buying an additional 908,189 shares during the last quarter.

Insider Activity at Millrose Properties

In related news, Director Matthew B. Gorson acquired 4,500 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was purchased at an average price of $26.96 per share, with a total value of $121,320.00. Following the transaction, the director owned 35,750 shares of the company’s stock, valued at approximately $963,820. This trade represents a 14.40% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Darren Richman acquired 195,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average cost of $27.31 per share, with a total value of $5,325,450.00. Following the transaction, the insider directly owned 416,000 shares in the company, valued at $11,360,960. This trade represents a 88.24% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 240,532 shares of company stock worth $6,567,048. Company insiders own 0.23% of the company’s stock.

Millrose Properties Stock Up 1.0%

Shares of MRP opened at $28.55 on Friday. The company’s 50-day moving average price is $28.62 and its 200 day moving average price is $29.41. Millrose Properties, Inc. has a 12-month low of $26.30 and a 12-month high of $36.00. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.41. The firm has a market cap of $4.40 billion, a P/E ratio of 10.23 and a beta of 0.34.

Millrose Properties (NYSE:MRP) last announced 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 return on equity of 7.90% and a net margin of 64.96%.The firm’s revenue for the quarter was up 135.7% on a year-over-year basis.

Millrose Properties Increases Dividend

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

Wall Street Analyst Weigh In

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

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.