Manning & Napier Advisors LLC Makes New Investment in Millrose Properties, Inc. $MRP

Manning & Napier Advisors LLC bought a new stake in Millrose Properties, Inc. (NYSE:MRP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 96,820 shares of the company’s stock, valued at approximately $2,909,000.

Several other large investors have also modified their holdings of the stock. Root Financial Partners LLC boosted 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 valued at $30,000 after acquiring an additional 989 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in Millrose Properties during the 1st quarter valued at $39,000. Caitong International Asset Management Co. Ltd lifted its holdings in Millrose Properties by 984.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,323 shares of the company’s stock worth $44,000 after buying an additional 1,201 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Millrose Properties by 33.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,503 shares of the company’s stock worth $45,000 after buying an additional 380 shares in the last quarter. Finally, Advisors Asset Management Inc. purchased a new position in Millrose Properties in the 1st quarter valued at about $45,000.

Wall Street Analysts Forecast Growth

MRP has been the subject of several recent analyst reports. Wall Street Zen downgraded Millrose Properties from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded Millrose Properties from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat, Millrose Properties currently has a consensus rating of “Buy” and an average target price of $37.67.

Insider Buying and Selling

In other news, Director Matthew B. Gorson bought 3,000 shares of the business’s stock in a transaction on Monday, August 10th. The stock was purchased at an average cost of $28.80 per share, for a total transaction of $86,400.00. Following the completion of the transaction, the director directly owned 38,750 shares of the company’s stock, valued at approximately $1,116,000. This trade represents a 8.39% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carlos A. Migoya purchased 1,000 shares of the business’s stock in a transaction on Friday, August 7th. The stock was acquired at an average cost of $29.18 per share, with a total value of $29,180.00. Following the completion of the acquisition, the director directly owned 30,075 shares in the company, valued at $877,588.50. The trade was a 3.44% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.23% of the company’s stock.

Millrose Properties Stock Up 1.3%

MRP stock opened at $30.91 on Wednesday. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 10.77 and a beta of 0.39. Millrose Properties, Inc. has a 1-year low of $26.30 and a 1-year high of $36.00. The firm has a fifty day moving average price of $29.19 and a two-hundred day moving average price of $29.30. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.05 and a quick ratio of 0.05.

Millrose Properties (NYSE:MRP) last posted its earnings results on Tuesday, August 4th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.01. The company had revenue of $196.85 million for the quarter. Millrose Properties had a return on equity of 8.13% and a net margin of 62.60%.

Millrose Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, July 6th were paid a dividend of $0.77 per share. This is an increase from Millrose Properties’s previous quarterly dividend of $0.76. This represents a $3.08 dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date was Monday, July 6th. Millrose Properties’s dividend payout ratio (DPR) is presently 107.32%.

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.