Public Sector Pension Investment Board Increases Position in Millrose Properties, Inc. $MRP

Public Sector Pension Investment Board grew its position in Millrose Properties, Inc. (NYSE:MRP) by 14.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 469,137 shares of the company’s stock after purchasing an additional 59,111 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.28% of Millrose Properties worth $15,768,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Goldman Sachs Group Inc. acquired a new stake in Millrose Properties in the first quarter valued at $18,093,000. Blue Whale Capital LLP increased its holdings in shares of Millrose Properties by 103.2% in the 2nd quarter. Blue Whale Capital LLP now owns 1,199,069 shares of the company’s stock valued at $34,185,000 after acquiring an additional 609,083 shares during the last quarter. Norges Bank acquired a new stake in shares of Millrose Properties during the 2nd quarter worth about $15,614,000. Thrivent Financial for Lutherans raised its position in shares of Millrose Properties by 497.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 527,730 shares of the company’s stock worth $15,045,000 after acquiring an additional 439,396 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake 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 worth $14,745,000 after purchasing an additional 408,885 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Millrose Properties in a research note on Thursday, January 22nd. Citigroup upped their target price on shares of Millrose Properties from $34.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, BTIG Research began coverage on shares of Millrose Properties in a research note on Monday, December 1st. They set a “buy” rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $36.90.

Millrose Properties Price Performance

Shares of NYSE MRP opened at $31.96 on Friday. The stock has a market cap of $5.31 billion and a P/E ratio of 18.80. Millrose Properties, Inc. has a twelve month low of $21.02 and a twelve month high of $36.00. The stock has a 50 day moving average of $30.44 and a two-hundred day moving average of $31.78. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34.

Millrose Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, January 5th were given a $0.75 dividend. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, January 5th. This represents a $3.00 annualized dividend and a yield of 9.4%. Millrose Properties’s payout ratio is currently 176.47%.

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.