Millrose Properties (NYSE:MRP) Director Matthew Gorson Purchases 4,500 Shares

Millrose Properties, Inc. (NYSE:MRP) Director Matthew Gorson purchased 4,500 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were bought at an average price of $26.96 per share, with a total value of $121,320.00. Following the purchase, the director owned 35,750 shares in the company, valued at $963,820. The trade was a 14.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Millrose Properties Trading Down 1.2%

Shares of MRP stock opened at $26.61 on Wednesday. The company has a 50 day moving average of $28.98 and a 200-day moving average of $30.10. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.41. Millrose Properties, Inc. has a 12-month low of $26.30 and a 12-month high of $36.00. The firm has a market cap of $4.10 billion, a P/E ratio of 9.54 and a beta of 0.59.

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

Millrose Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Friday, April 3rd were paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 11.4%. The ex-dividend date was Thursday, April 2nd. This is an increase from Millrose Properties’s previous quarterly dividend of $0.75. Millrose Properties’s dividend payout ratio (DPR) is 108.96%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Allianz Asset Management GmbH increased its holdings in shares of Millrose Properties by 1,371.2% in the third quarter. Allianz Asset Management GmbH now owns 438,705 shares of the company’s stock worth $14,745,000 after purchasing an additional 408,885 shares during the period. Great Lakes Advisors LLC bought a new position in shares of Millrose Properties in the third quarter worth $6,029,000. Hodges Capital Management Inc. increased its holdings in shares of Millrose Properties by 180.0% in the third quarter. Hodges Capital Management Inc. now owns 80,722 shares of the company’s stock worth $2,713,000 after purchasing an additional 51,892 shares during the period. Vanguard Group Inc. increased its holdings in shares of Millrose Properties by 16.3% in the fourth quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company’s stock worth $630,769,000 after purchasing an additional 2,960,066 shares during the period. Finally, Gabelli Funds LLC grew its position in Millrose Properties by 34.9% in the third quarter. Gabelli Funds LLC now owns 524,366 shares of the company’s stock worth $17,624,000 after acquiring an additional 135,523 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Millrose Properties from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wall Street Zen lowered shares of Millrose Properties from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Millrose Properties has a consensus rating of “Buy” and a consensus target price of $37.67.

Millrose Properties Company Profile

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.