Nomura Asset Management Co. Ltd. Purchases 55,760 Shares of Millrose Properties, Inc. $MRP

Nomura Asset Management Co. Ltd. boosted its position in shares of Millrose Properties, Inc. (NYSE:MRP) by 31.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 234,340 shares of the company’s stock after purchasing an additional 55,760 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.14% of Millrose Properties worth $7,000,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MRP. Baird Financial Group Inc. bought a new position in Millrose Properties during the 1st quarter worth about $224,000. Royal Bank of Canada bought a new position in Millrose Properties during the 1st quarter worth about $1,508,000. Advisors Asset Management Inc. bought a new position in Millrose Properties during the 1st quarter worth about $45,000. NewEdge Advisors LLC bought a new position in Millrose Properties during the 1st quarter worth about $39,000. Finally, Goldman Sachs Group Inc. bought a new position in Millrose Properties during the 1st quarter worth about $18,093,000.

Insider Activity

In other news, Director Matthew B. Gorson bought 4,500 shares of the business’s stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Darren Richman bought 195,000 shares of the business’s 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 $5,325,450.00. Following the completion of the purchase, the insider directly owned 416,000 shares in the company, valued at $11,360,960. The trade was a 88.24% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 240,532 shares of company stock valued at $6,567,048 in the last 90 days. 0.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MRP has been the subject of several analyst reports. 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 cut Millrose Properties from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $37.67.

Millrose Properties Price Performance

Shares of NYSE MRP opened at $27.55 on Thursday. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 9.87 and a beta of 0.40. The business has a 50-day moving average of $28.69 and a 200-day moving average of $29.80. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.34 and a quick ratio of 0.34. Millrose Properties, Inc. has a fifty-two week low of $26.30 and a fifty-two week high of $36.00.

Millrose Properties (NYSE:MRP) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.03). The company had revenue of $194.93 million during the quarter. Millrose Properties had a net margin of 64.96% and a return on equity of 7.90%. Millrose Properties’s revenue was up 135.7% on a year-over-year basis.

Millrose Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Friday, April 3rd were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 11.0%. The ex-dividend date was Thursday, April 2nd. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.75. Millrose Properties’s dividend payout ratio is 108.96%.

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.