Millrose Properties, Inc. (NYSE:MRP) Given Average Rating of “Moderate Buy” by Analysts

Millrose Properties, Inc. (NYSE:MRP) has received an average recommendation of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $37.3750.

Several research analysts recently issued reports on the stock. JMP Securities started coverage on shares of Millrose Properties in a research report on Wednesday, October 8th. They issued a “market outperform” rating and a $40.00 target price for the company. Citizens Jmp started coverage on Millrose Properties in a research note on Wednesday, October 8th. They set a “mkt outperform” rating and a $40.00 price target for the company. Citigroup increased their price objective on Millrose Properties from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Millrose Properties in a report on Wednesday, October 8th. Finally, BTIG Research started coverage on Millrose Properties in a research report on Monday. They issued a “buy” rating for the company.

Insider Activity

In other Millrose Properties news, Director Carlos A. Migoya bought 1,000 shares of Millrose Properties stock in a transaction that occurred on Wednesday, November 12th. The shares were bought at an average price of $32.24 per share, with a total value of $32,240.00. Following the acquisition, the director owned 16,766 shares in the company, valued at approximately $540,535.84. This trade represents a 6.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick J. Bartels, Jr. bought 7,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director owned 30,660 shares in the company, valued at $997,063.20. This trade represents a 32.38% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 11,476 shares of company stock valued at $373,264.

Institutional Investors Weigh In On Millrose Properties

Hedge funds and other institutional investors have recently modified their holdings of the stock. 683 Capital Management LLC purchased a new position in shares of Millrose Properties during the first quarter valued at approximately $9,411,000. Blair William & Co. IL purchased a new stake in Millrose Properties in the first quarter worth $351,000. Russell Investments Group Ltd. bought a new stake in Millrose Properties in the first quarter valued at $4,569,000. Hawk Ridge Capital Management LP purchased a new position in Millrose Properties during the 1st quarter valued at $7,610,000. Finally, Fractal Investments LLC purchased a new position in Millrose Properties during the 2nd quarter valued at $257,000.

Millrose Properties Price Performance

Millrose Properties stock traded down $0.26 during mid-day trading on Monday, hitting $30.20. 6,977,067 shares of the company traded hands, compared to its average volume of 2,028,172. Millrose Properties has a one year low of $19.00 and a one year high of $36.00. The stock has a market cap of $5.01 billion and a price-to-earnings ratio of 17.77. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.46 and a current ratio of 0.46. The stock has a fifty day moving average price of $32.04 and a 200-day moving average price of $31.12.

Millrose Properties (NYSE:MRP) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates 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 disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Friday, October 3rd were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date was Friday, October 3rd. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.69. Millrose Properties’s dividend payout ratio (DPR) is presently 171.76%.

Millrose Properties Company Profile

Millrose Properties, Inc is a real estate investment and management company that focuses on acquiring, developing, and managing high-quality commercial properties. They are headquartered in Purchase, New York.