Hsbc Holdings PLC Lowers Stock Position in Millrose Properties, Inc. $MRP

Hsbc Holdings PLC cut its stake in shares of Millrose Properties, Inc. (NYSE:MRP) by 82.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,755 shares of the company’s stock after selling 158,861 shares during the quarter. Hsbc Holdings PLC’s holdings in Millrose Properties were worth $921,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MRP. Vanguard Group Inc. raised its stake in Millrose Properties by 16.3% during the 4th quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company’s stock worth $630,769,000 after acquiring an additional 2,960,066 shares during the period. State Street Corp lifted its holdings in Millrose Properties by 23.0% during the fourth 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. Permian Investment Partners LP boosted its position in shares of Millrose Properties by 116.4% in 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 period. Norges Bank bought a new position in shares of Millrose Properties in the fourth quarter worth approximately $101,800,000. Finally, Wellington Management Group LLP increased its stake in shares of Millrose Properties by 44.7% in the third quarter. Wellington Management Group LLP now owns 2,939,771 shares of the company’s stock worth $98,806,000 after purchasing an additional 908,189 shares in the last quarter.

Insider Activity

In other Millrose Properties news, insider Darren Richman purchased 40,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $27.31 per share, with a total value of $1,092,400.00. Following the acquisition, the insider owned 84,000 shares in the company, valued at approximately $2,294,040. The trade was a 90.91% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew B. Gorson purchased 4,500 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was bought at an average price 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 represents a 14.40% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 240,532 shares of company stock worth $6,567,048 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MRP. Weiss Ratings downgraded shares of Millrose Properties from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of Millrose Properties from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $37.67.

Millrose Properties Trading Down 1.8%

MRP stock opened at $28.07 on Thursday. The firm has a fifty day moving average price of $28.70 and a 200 day moving average price of $29.39. Millrose Properties, Inc. has a fifty-two week low of $26.30 and a fifty-two week high of $36.00. The firm has a market cap of $4.33 billion, a PE ratio of 10.06 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 (NYSE:MRP) last released its quarterly 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 net margin of 64.96% and a return on equity of 7.90%. The business had revenue of $194.93 million for the quarter. The company’s quarterly revenue was up 135.7% on a year-over-year basis.

Millrose Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th were given a dividend of $0.77 per share. The ex-dividend date was Monday, July 6th. This represents a $3.08 annualized dividend and a dividend yield of 11.0%. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.76. Millrose Properties’s dividend 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.