Millrose Properties, Inc. $MRP Shares Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its stake in Millrose Properties, Inc. (NYSE:MRP) by 1,371.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 438,705 shares of the company’s stock after acquiring an additional 408,885 shares during the quarter. Allianz Asset Management GmbH’s holdings in Millrose Properties were worth $14,745,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Great Lakes Advisors LLC purchased a new stake in Millrose Properties during the 3rd quarter worth approximately $6,029,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Millrose Properties during the 2nd quarter valued at approximately $1,304,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Millrose Properties by 37.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 33,223 shares of the company’s stock worth $947,000 after buying an additional 9,026 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Millrose Properties by 16.4% in the third quarter. Asset Management One Co. Ltd. now owns 201,388 shares of the company’s stock worth $6,769,000 after buying an additional 28,398 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Millrose Properties by 53.8% in the second quarter. JPMorgan Chase & Co. now owns 431,632 shares of the company’s stock worth $12,306,000 after buying an additional 151,063 shares during the last quarter.

Insider Buying and Selling

In related news, Director Carlos A. Migoya bought 1,000 shares of the stock in a transaction dated Wednesday, November 12th. The stock was bought at an average cost of $32.24 per share, with a total value of $32,240.00. Following the completion of the acquisition, the director owned 16,766 shares of the company’s stock, valued at $540,535.84. This trade represents a 6.34% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MRP. Weiss Ratings reissued a “hold (c+)” rating on shares of Millrose Properties in a report on Thursday, January 22nd. Citigroup increased their price target on shares of Millrose Properties from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, BTIG Research assumed coverage on Millrose Properties in a report on Monday, December 1st. They issued a “buy” rating and a $35.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Millrose Properties currently has a consensus rating of “Buy” and an average price target of $36.90.

Millrose Properties Trading Up 2.3%

Millrose Properties stock opened at $31.72 on Friday. Millrose Properties, Inc. has a 1 year low of $21.02 and a 1 year high of $36.00. The firm’s 50-day moving average is $30.40 and its 200-day moving average is $31.76. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.46 and a current ratio of 0.46. The company has a market cap of $5.27 billion and a P/E ratio of 18.66.

Millrose Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, January 5th were issued a $0.75 dividend. This is an increase from Millrose Properties’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date of this dividend was Monday, January 5th. Millrose Properties’s dividend payout ratio is 176.47%.

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.