Alpine Global Management LLC Acquires New Holdings in Millrose Properties, Inc. $MRP

Alpine Global Management LLC bought a new stake in Millrose Properties, Inc. (NYSE:MRP) during the fourth quarter, Holdings Channel.com reports. The firm bought 62,342 shares of the company’s stock, valued at approximately $1,862,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MRP. Sound Income Strategies LLC acquired a new position in shares of Millrose Properties during the fourth quarter worth $29,000. Root Financial Partners LLC increased its holdings in Millrose Properties by 3,090.6% in the 4th quarter. Root Financial Partners LLC now owns 1,021 shares of the company’s stock worth $30,000 after purchasing an additional 989 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Millrose Properties by 55.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock worth $34,000 after purchasing an additional 357 shares in the last quarter. NewEdge Advisors LLC bought a new position in Millrose Properties in the first quarter valued at about $39,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Millrose Properties by 984.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,323 shares of the company’s stock valued at $44,000 after purchasing an additional 1,201 shares during the last quarter.

Millrose Properties Price Performance

Millrose Properties stock opened at $28.45 on Friday. The stock’s 50 day moving average is $28.85 and its 200 day moving average is $29.69. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market cap of $4.39 billion, a P/E ratio of 10.20 and a beta of 0.40. Millrose Properties, Inc. has a one year low of $26.30 and a one year high of $36.00.

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 the consensus estimate of $0.77 by ($0.03). Millrose Properties had a return on equity of 7.90% and a net margin of 64.96%.The firm had revenue of $194.93 million for the quarter. Millrose Properties’s revenue for the quarter was up 135.7% on a year-over-year basis.

Millrose Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Friday, April 3rd were issued a $0.76 dividend. The ex-dividend date was Thursday, April 2nd. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a yield of 10.7%. Millrose Properties’s dividend payout ratio (DPR) is presently 108.96%.

Analysts Set New Price Targets

Several research firms have recently weighed in on MRP. Weiss Ratings cut Millrose Properties from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wall Street Zen lowered shares of Millrose Properties from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Millrose Properties has an average rating of “Buy” and an average price target of $37.67.

Insiders Place Their Bets

In other Millrose Properties news, insider Darren Richman bought 40,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $27.31 per share, for a total transaction of $1,092,400.00. Following the transaction, the insider directly owned 84,000 shares in the company, valued at approximately $2,294,040. This trade represents a 90.91% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew B. Gorson purchased 4,500 shares of the company’s stock in a transaction on Monday, May 18th. The stock was acquired at an average cost of $26.96 per share, for a total transaction of $121,320.00. Following the completion of the purchase, the director owned 35,750 shares of the company’s stock, valued at approximately $963,820. This trade represents a 14.40% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 240,532 shares of company stock worth $6,567,048 in the last ninety days. Insiders own 0.23% of the company’s stock.

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.