Thrivent Financial for Lutherans Buys 187,243 Shares of Millrose Properties, Inc. $MRP

Thrivent Financial for Lutherans increased its stake in shares of Millrose Properties, Inc. (NYSE:MRP) by 34.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 726,605 shares of the company’s stock after acquiring an additional 187,243 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Millrose Properties were worth $21,703,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Allianz Asset Management GmbH grew its stake in shares of Millrose Properties by 1,371.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 438,705 shares of the company’s stock valued at $14,745,000 after buying an additional 408,885 shares during the period. Great Lakes Advisors LLC bought a new position in Millrose Properties in the 3rd quarter valued at about $6,029,000. Hodges Capital Management Inc. lifted its position in Millrose Properties by 180.0% in the 3rd quarter. Hodges Capital Management Inc. now owns 80,722 shares of the company’s stock valued at $2,713,000 after acquiring an additional 51,892 shares in the last quarter. Vanguard Group Inc. lifted its position 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 acquiring an additional 2,960,066 shares in the last quarter. Finally, Gabelli Funds LLC lifted its position in Millrose Properties by 34.9% in the 3rd quarter. Gabelli Funds LLC now owns 524,366 shares of the company’s stock valued at $17,624,000 after acquiring an additional 135,523 shares in the last quarter.

Millrose Properties Trading Up 0.0%

NYSE:MRP opened at $26.72 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 9.58 and a beta of 0.59. Millrose Properties, Inc. has a 52 week low of $26.30 and a 52 week high of $36.00. The firm has a 50-day moving average price of $29.12 and a two-hundred day moving average price of $30.18.

Millrose Properties (NYSE:MRP) last issued its quarterly 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). The business 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 business’s revenue for the quarter was up 135.7% compared to the same quarter last year.

Millrose Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Friday, April 3rd were given a dividend of $0.76 per share. The ex-dividend date was Thursday, April 2nd. This is an increase from Millrose Properties’s previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a yield of 11.4%. Millrose Properties’s dividend payout ratio (DPR) is currently 108.96%.

Insider Activity

In related news, insider Darren Richman bought 195,000 shares of Millrose Properties stock in a transaction dated Monday, May 11th. The stock was purchased 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 of the company’s stock, valued at approximately $11,360,960. The trade was a 88.24% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew B. Gorson bought 1,000 shares of Millrose Properties stock in a transaction dated Thursday, March 5th. The shares were bought at an average cost of $30.66 per share, with a total value of $30,660.00. Following the completion of the transaction, the director directly owned 25,611 shares in the company, valued at approximately $785,233.26. This trade represents a 4.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 237,032 shares of company stock valued at $6,476,388. 0.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MRP. Wall Street Zen cut Millrose Properties from a “buy” rating to a “hold” rating in a research 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 investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $37.67.

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.