State of New Jersey Common Pension Fund D Increases Stake in Millrose Properties, Inc. $MRP

State of New Jersey Common Pension Fund D raised its position in Millrose Properties, Inc. (NYSE:MRP) by 37.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 87,506 shares of the company’s stock after purchasing an additional 23,707 shares during the period. State of New Jersey Common Pension Fund D owned 0.05% of Millrose Properties worth $2,614,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MRP. Baird Financial Group Inc. purchased a new position in Millrose Properties in the 1st quarter valued at $224,000. Royal Bank of Canada purchased a new position in Millrose Properties in the 1st quarter valued at $1,508,000. Advisors Asset Management Inc. purchased a new position in Millrose Properties in the 1st quarter valued at $45,000. NewEdge Advisors LLC purchased a new position in Millrose Properties in the 1st quarter valued at $39,000. Finally, Goldman Sachs Group Inc. purchased a new position in Millrose Properties in the 1st quarter valued at $18,093,000.

Millrose Properties Stock Down 6.5%

Shares of MRP opened at $28.13 on Thursday. Millrose Properties, Inc. has a 52-week low of $25.22 and a 52-week high of $36.00. The company has a market capitalization of $4.67 billion, a PE ratio of 11.53 and a beta of 0.59. The stock has a fifty day simple moving average of $29.69 and a two-hundred day simple moving average of $30.47. 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 issued its earnings results on Wednesday, May 6th. The company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.03). Millrose Properties had a return on equity of 6.90% and a net margin of 67.42%.The company had revenue of $194.93 million during the quarter. Millrose Properties’s quarterly revenue was up 135.7% compared to the same quarter last year.

Millrose Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Friday, April 3rd were paid a $0.76 dividend. This is a boost from Millrose Properties’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 10.8%. Millrose Properties’s dividend payout ratio is 124.59%.

Analysts Set New Price Targets

A number of analysts have issued reports on MRP shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Millrose Properties in a research note on Thursday, January 22nd. Wall Street Zen raised Millrose Properties from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Millrose Properties presently has a consensus rating of “Buy” and an average target price of $36.13.

Insider Activity

In other Millrose Properties news, Director Matthew B. Gorson acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was purchased at an average cost of $30.66 per share, with a total value of $30,660.00. Following the transaction, the director owned 25,611 shares of the company’s stock, valued at $785,233.26. This trade represents a 4.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.23% of the company’s stock.

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.