Carlos Migoya Buys 1,000 Shares of Millrose Properties (NYSE:MRP) Stock

Millrose Properties, Inc. (NYSE:MRP) Director Carlos Migoya purchased 1,000 shares of Millrose Properties stock in a transaction dated Friday, August 7th. The stock was bought at an average cost of $29.18 per share, for a total transaction of $29,180.00. Following the completion of the purchase, the director directly owned 30,075 shares in the company, valued at approximately $877,588.50. This trade represents a 3.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Millrose Properties Stock Performance

Shares of MRP stock opened at $29.68 on Wednesday. The firm’s 50 day moving average price is $28.89 and its 200-day moving average price is $29.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.05 and a current ratio of 0.05. Millrose Properties, Inc. has a one year low of $26.30 and a one year high of $36.00. The firm has a market cap of $4.58 billion, a P/E ratio of 10.34 and a beta of 0.39.

Millrose Properties (NYSE:MRP) last posted its earnings results on Tuesday, August 4th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.01. The firm had revenue of $196.85 million during the quarter. Millrose Properties had a net margin of 62.60% and a return on equity of 8.13%.

Millrose Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th were given a dividend of $0.77 per share. This is an increase from Millrose Properties’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a dividend yield of 10.4%. The ex-dividend date was Monday, July 6th. Millrose Properties’s dividend payout ratio (DPR) is 107.32%.

Hedge Funds Weigh In On Millrose Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC lifted its position in Millrose Properties by 3.4% in the fourth quarter. HighTower Advisors LLC now owns 11,206 shares of the company’s stock valued at $335,000 after acquiring an additional 371 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Millrose Properties by 33.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,503 shares of the company’s stock worth $45,000 after purchasing an additional 380 shares during the last quarter. HB Wealth Management LLC grew its holdings in shares of Millrose Properties by 3.9% during the first quarter. HB Wealth Management LLC now owns 10,834 shares of the company’s stock worth $303,000 after purchasing an additional 403 shares during the last quarter. Ieq Capital LLC increased its position in shares of Millrose Properties by 0.4% during the fourth quarter. Ieq Capital LLC now owns 112,863 shares of the company’s stock worth $3,371,000 after purchasing an additional 471 shares in the last quarter. Finally, Unison Advisors LLC increased its position in shares of Millrose Properties by 2.3% during the first quarter. Unison Advisors LLC now owns 22,123 shares of the company’s stock worth $619,000 after purchasing an additional 503 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MRP. Weiss Ratings upgraded Millrose Properties from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Wall Street Zen downgraded Millrose Properties from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $37.67.

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.