Millrose Properties (NYSE:MRP) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Millrose Properties (NYSE:MRP) from a buy rating to a hold rating in a research note released on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Millrose Properties in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $36.13.

Millrose Properties Trading Up 0.3%

MRP opened at $26.98 on Friday. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 9.67 and a beta of 0.59. Millrose Properties has a 52 week low of $25.22 and a 52 week high of $36.00. The business’s 50 day moving average is $29.61 and its two-hundred day moving average is $30.43. The company has a quick ratio of 0.35, a current ratio of 0.34 and a debt-to-equity ratio of 0.41.

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

Millrose Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Friday, April 3rd were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 11.3%. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, April 2nd. Millrose Properties’s dividend payout ratio is presently 108.96%.

Insider Buying and Selling at Millrose Properties

In related news, Director Matthew B. Gorson bought 1,000 shares of the stock in a transaction on Thursday, March 5th. The shares were bought at an average cost of $30.66 per share, for a total transaction of $30,660.00. Following the purchase, the director owned 25,611 shares of the company’s stock, valued at $785,233.26. This trade represents a 4.06% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its stake in shares of Millrose Properties by 4.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 22,376 shares of the company’s stock valued at $627,000 after purchasing an additional 1,047 shares during the last quarter. Summit Global Investments purchased a new position in shares of Millrose Properties in the 1st quarter valued at approximately $1,100,000. Parallel Advisors LLC grew its stake in shares of Millrose Properties by 50.2% in the 1st quarter. Parallel Advisors LLC now owns 6,925 shares of the company’s stock valued at $194,000 after purchasing an additional 2,315 shares during the last quarter. SEB Asset Management AB purchased a new position in shares of Millrose Properties in the 1st quarter valued at approximately $1,646,000. Finally, Swiss National Bank grew its stake in shares of Millrose Properties by 25.5% in the 1st quarter. Swiss National Bank now owns 305,086 shares of the company’s stock valued at $8,542,000 after purchasing an additional 61,900 shares during the last quarter.

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.