Millrose Properties, Inc. (NYSE:MRP) Receives Average Rating of “Buy” from Brokerages

Millrose Properties, Inc. (NYSE:MRP) has received a consensus recommendation of “Buy” from the five research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $36.90.

Several research analysts have recently issued reports on MRP shares. Citizens Jmp began coverage on Millrose Properties in a research report on Wednesday, October 8th. They set a “mkt outperform” rating and a $40.00 price objective for the company. JMP Securities initiated coverage on Millrose Properties in a report on Wednesday, October 8th. They issued a “market outperform” rating and a $40.00 price target for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Millrose Properties in a report on Wednesday, October 8th. Citigroup boosted their price objective 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 shares of Millrose Properties in a research report on Monday, December 1st. They issued a “buy” rating and a $35.00 target price on the stock.

Insider Buying and Selling at Millrose Properties

In other Millrose Properties news, Director Matthew B. Gorson acquired 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The shares were acquired at an average cost of $32.69 per share, for a total transaction of $81,725.00. Following the transaction, the director directly owned 18,160 shares of the company’s stock, valued at approximately $593,650.40. This represents a 15.96% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick J. Bartels, Jr. purchased 7,500 shares of the stock in a transaction dated Tuesday, October 28th. The stock was acquired at an average price of $32.52 per share, for a total transaction of $243,900.00. Following the completion of the transaction, the director directly owned 30,660 shares of the company’s stock, valued at approximately $997,063.20. The trade was a 32.38% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 11,476 shares of company stock valued at $373,264 in the last ninety days.

Hedge Funds Weigh In On Millrose Properties

Several institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Millrose Properties in the 1st quarter worth about $27,000. MassMutual Private Wealth & Trust FSB increased its position in Millrose Properties by 144.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 973 shares of the company’s stock worth $28,000 after purchasing an additional 575 shares in the last quarter. Salomon & Ludwin LLC purchased a new position in Millrose Properties in the third quarter valued at approximately $29,000. First Financial Corp IN acquired a new position in shares of Millrose Properties during the 2nd quarter valued at $32,000. Finally, Smartleaf Asset Management LLC boosted its position in Millrose Properties by 55.8% during 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 during the period.

Millrose Properties Price Performance

NYSE:MRP opened at $30.06 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.34. Millrose Properties has a 52 week low of $19.00 and a 52 week high of $36.00. The stock’s 50-day moving average price is $31.06 and its 200-day moving average price is $31.54. The stock has a market capitalization of $4.99 billion and a PE ratio of 17.68.

Millrose Properties (NYSE:MRP) last announced its earnings results on Thursday, October 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $179.26 million for the quarter.

Millrose Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, January 5th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Monday, January 5th. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 10.0%. Millrose Properties’s dividend payout ratio is currently 171.76%.

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.