Cannell & Spears LLC Boosts Stock Position in Millrose Properties, Inc. $MRP

Cannell & Spears LLC grew its position in shares of Millrose Properties, Inc. (NYSE:MRP) by 1.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 3,677,754 shares of the company’s stock after acquiring an additional 49,702 shares during the period. Millrose Properties comprises about 2.0% of Cannell & Spears LLC’s holdings, making the stock its 9th largest holding. Cannell & Spears LLC owned about 2.38% of Millrose Properties worth $102,723,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MRP. Sound Income Strategies LLC purchased a new stake in Millrose Properties in the fourth quarter worth $29,000. Root Financial Partners LLC raised its holdings in Millrose Properties by 3,090.6% in the fourth quarter. Root Financial Partners LLC now owns 1,021 shares of the company’s stock worth $30,000 after purchasing an additional 989 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Millrose Properties by 984.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,323 shares of the company’s stock valued at $44,000 after buying an additional 1,201 shares during the period. NewEdge Advisors LLC purchased a new position in Millrose Properties during the first quarter valued at $39,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Millrose Properties by 33.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,503 shares of the company’s stock valued at $45,000 after buying an additional 380 shares in the last quarter.

Insider Activity

In other news, Director Matthew B. Gorson acquired 4,500 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were bought at an average cost 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 $963,820. This trade represents a 14.40% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Darren Richman bought 40,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $27.31 per share, with a total value of $1,092,400.00. Following the completion of the acquisition, the insider directly 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. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 240,532 shares of company stock worth $6,567,048 over the last three months. 0.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MRP has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of Millrose Properties from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings lowered shares of Millrose Properties from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Millrose Properties presently has a consensus rating of “Buy” and an average price target of $37.67.

Millrose Properties Stock Up 1.0%

Shares of NYSE:MRP opened at $28.55 on Friday. The stock has a fifty day simple moving average of $28.62 and a two-hundred day simple moving average of $29.41. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 10.23 and a beta of 0.34. 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.

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

Millrose Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, July 6th were given a dividend of $0.77 per share. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Monday, July 6th. This represents a $3.08 annualized dividend and a yield of 10.8%. Millrose Properties’s payout ratio is currently 110.39%.

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.