Renaissance Technologies LLC Sells 31,802 Shares of Millrose Properties, Inc. $MRP

Renaissance Technologies LLC cut its position in Millrose Properties, Inc. (NYSE:MRP) by 4.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 687,065 shares of the company’s stock after selling 31,802 shares during the quarter. Renaissance Technologies LLC’s holdings in Millrose Properties were worth $19,238,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Millrose Properties in the fourth quarter valued at approximately $101,800,000. Vanguard Group Inc. lifted its stake in Millrose Properties by 16.3% during the fourth quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company’s stock worth $630,769,000 after purchasing an additional 2,960,066 shares during the last quarter. Permian Investment Partners LP lifted its stake in Millrose Properties by 116.4% during the fourth quarter. Permian Investment Partners LP now owns 3,794,312 shares of the company’s stock worth $113,336,000 after purchasing an additional 2,040,900 shares during the last quarter. State Street Corp boosted its holdings 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 purchasing an additional 950,421 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Millrose Properties by 44.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,939,771 shares of the company’s stock valued at $98,806,000 after purchasing an additional 908,189 shares in the last quarter.

Millrose Properties Stock Up 0.6%

Shares of NYSE:MRP opened at $28.21 on Friday. The company has a fifty day moving average of $28.71 and a 200-day moving average of $29.37. The company has a market capitalization of $4.35 billion, a PE ratio of 10.11 and a beta of 0.34. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.34 and a current ratio of 0.34. Millrose Properties, Inc. has a 52-week low of $26.30 and a 52-week high of $36.00.

Millrose Properties (NYSE:MRP) last released its quarterly earnings data 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). Millrose Properties had a net margin of 64.96% and a return on equity of 7.90%. The firm had revenue of $194.93 million for the quarter. The business’s quarterly revenue was up 135.7% on a year-over-year basis.

Millrose Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, July 6th were given a $0.77 dividend. This is a boost from Millrose Properties’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a yield of 10.9%. The ex-dividend date was Monday, July 6th. Millrose Properties’s dividend payout ratio is 110.39%.

Insider Transactions at Millrose Properties

In other news, Director Matthew B. Gorson purchased 4,500 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were purchased at an average cost of $26.96 per share, with a total value of $121,320.00. Following the completion of the purchase, the director owned 35,750 shares of the company’s stock, valued at $963,820. This trade represents a 14.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Darren Richman purchased 40,000 shares of Millrose Properties stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $27.31 per share, for a total transaction of $1,092,400.00. Following the completion of the acquisition, the insider owned 84,000 shares of the company’s stock, valued at approximately $2,294,040. The trade was a 90.91% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 240,532 shares of company stock worth $6,567,048 over the last three months. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MRP shares. Wall Street Zen cut Millrose Properties from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings cut Millrose Properties from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Millrose Properties presently has a consensus rating of “Buy” and a consensus 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.