Principal Financial Group Inc. Boosts Stock Holdings in Millrose Properties, Inc. $MRP

Principal Financial Group Inc. grew its position in shares of Millrose Properties, Inc. (NYSE:MRP) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,928,856 shares of the company’s stock after buying an additional 138,227 shares during the quarter. Principal Financial Group Inc.’s holdings in Millrose Properties were worth $57,615,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in MRP. Allianz Asset Management GmbH lifted its position in Millrose Properties by 1,371.2% during the third quarter. Allianz Asset Management GmbH now owns 438,705 shares of the company’s stock valued at $14,745,000 after purchasing an additional 408,885 shares during the period. Great Lakes Advisors LLC bought a new position in Millrose Properties during the third quarter valued at approximately $6,029,000. Hodges Capital Management Inc. lifted its position in Millrose Properties by 180.0% during the third quarter. Hodges Capital Management Inc. now owns 80,722 shares of the company’s stock valued at $2,713,000 after purchasing an additional 51,892 shares during the period. Gabelli Funds LLC lifted its position in Millrose Properties by 34.9% during the third quarter. Gabelli Funds LLC now owns 524,366 shares of the company’s stock valued at $17,624,000 after purchasing an additional 135,523 shares during the period. Finally, First Dallas Securities Inc. lifted its position in Millrose Properties by 62.0% during the third quarter. First Dallas Securities Inc. now owns 92,299 shares of the company’s stock valued at $3,102,000 after purchasing an additional 35,319 shares during the period.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Millrose Properties from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings restated a “hold (c+)” rating on shares of Millrose Properties in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Millrose Properties has a consensus rating of “Buy” and a consensus target price of $36.13.

Insider Activity at Millrose Properties

In other news, Director Matthew B. Gorson acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were purchased at an average cost of $30.66 per share, for a total transaction of $30,660.00. Following the transaction, the director directly owned 25,611 shares of the company’s stock, valued at approximately $785,233.26. This trade represents a 4.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.23% of the stock is owned by insiders.

Millrose Properties Stock Up 0.3%

MRP opened at $26.98 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.35 and a debt-to-equity ratio of 0.41. Millrose Properties, Inc. has a 1-year low of $25.22 and a 1-year high of $36.00. The company has a market capitalization of $4.16 billion, a PE ratio of 9.67 and a beta of 0.59. The firm’s 50 day simple moving average is $29.61 and its two-hundred day simple moving average is $30.43.

Millrose Properties (NYSE:MRP) last released its quarterly 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). Millrose Properties had a return on equity of 7.90% and a net margin of 64.96%.The business had revenue of $194.93 million during the quarter. The business’s quarterly 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, April 15th. Stockholders of record on Friday, April 3rd were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 11.3%. The ex-dividend date was Thursday, April 2nd. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.75. Millrose Properties’s payout ratio is 124.59%.

Millrose Properties 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.