Millrose Properties (NYSE:MRP) General Counsel Acquires $15,398.60 in Stock

Millrose Properties, Inc. (NYSE:MRP) General Counsel Rachel Presa bought 476 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The shares were purchased at an average cost of $32.35 per share, with a total value of $15,398.60. Following the purchase, the general counsel directly owned 1,468 shares of the company’s stock, valued at approximately $47,489.80. This represents a 47.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Millrose Properties Trading Down 0.6%

Shares of MRP stock opened at $32.20 on Monday. The stock has a 50-day simple moving average of $33.58 and a 200 day simple moving average of $30.33. Millrose Properties, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $36.00. The stock has a market capitalization of $5.35 billion and a P/E ratio of 18.94. 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 (NYSE:MRP) last announced its earnings results on Thursday, July 31st. The company reported $0.68 earnings per share for the quarter. The firm had revenue of $149.00 million for the quarter.

Millrose Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Friday, October 3rd were paid a dividend of $0.73 per share. This is an increase from Millrose Properties’s previous quarterly dividend of $0.69. This represents a $2.92 annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend was Friday, October 3rd. Millrose Properties’s dividend payout ratio (DPR) is 171.76%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Millrose Properties during the first quarter valued at $27,000. Summit Securities Group LLC purchased a new position in shares of Millrose Properties during the first quarter valued at $28,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Millrose Properties by 144.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 973 shares of the company’s stock valued at $28,000 after buying an additional 575 shares in the last quarter. William B. Walkup & Associates Inc. purchased a new position in shares of Millrose Properties during the first quarter valued at $29,000. Finally, Salomon & Ludwin LLC purchased a new position in shares of Millrose Properties during the third quarter valued at $29,000.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MRP. Weiss Ratings restated a “hold (c+)” rating on shares of Millrose Properties in a report on Wednesday, October 8th. Citizens Jmp began coverage on Millrose Properties in a report on Wednesday, October 8th. They issued a “mkt outperform” rating and a $40.00 target price on the stock. JMP Securities began coverage on Millrose Properties in a report on Wednesday, October 8th. They issued a “market outperform” rating and a $40.00 target price on the stock. Finally, Citigroup lifted their target price on Millrose Properties from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.38.

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.