Millrose Properties, Inc. (NYSE:MRP) Announces Quarterly Dividend of $0.79

Millrose Properties, Inc. (NYSE:MRP) declared a quarterly dividend on Wednesday, September 23rd. Shareholders of record on Monday, October 5th will be given a dividend of 0.79 per share on Thursday, October 15th. This represents a c) dividend on an annualized basis and a yield of 11.7%. The ex-dividend date is Monday, October 5th. This is a 2.6% increase from Millrose Properties’s previous quarterly dividend of $0.77.

Millrose Properties Price Performance

MRP stock traded up $0.31 during trading on Thursday, reaching $27.12. 413,930 shares of the company were exchanged, compared to its average volume of 1,429,755. The company has a 50-day moving average of $29.60 and a two-hundred day moving average of $29.12. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 9.45 and a beta of 0.41. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.05 and a quick ratio of 0.05. Millrose Properties has a twelve month low of $26.30 and a twelve month high of $34.63.

Millrose Properties (NYSE:MRP) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.01. The company 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%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Millrose Properties from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, Millrose Properties has a consensus rating of “Buy” and an average price target of $37.67.

Millrose Properties Company Profile

Millrose Properties, Inc (NYSE: MRP) is a real estate company focused on providing land-banking solutions to residential homebuilders. The company acquires and develops residential land and finished lots, which it then makes available to homebuilders through long-term arrangements. This model is designed to help builders secure future community sites while reducing the amount of capital tied up in land acquisition and development.

Millrose primarily targets residential growth markets, including communities in the U.S.