Millrose Properties, Inc. (NYSE:MRP) Receives Average Recommendation of “Moderate Buy” from Brokerages

by · The Markets Daily

Millrose Properties, Inc. (NYSE:MRP – Get Free Report) has earned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $37.3750.

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

Get Our Latest Stock Analysis on Millrose Properties

Millrose Properties Stock Performance

MRP traded down $0.26 during midday trading on Monday, reaching $30.20. The company had a trading volume of 6,977,067 shares, compared to its average volume of 2,028,172. Millrose Properties has a 12-month low of $19.00 and a 12-month high of $36.00. The business has a 50-day moving average price of $32.04 and a two-hundred day moving average price of $31.12. The stock has a market cap of $5.01 billion and a PE 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.

Millrose Properties (NYSE:MRP – Get Free Report) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $179.26 million for the quarter.

Millrose Properties Increases Dividend

The business also recently disclosed 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 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 is presently 171.76%.

Insiders Place Their Bets

In related news, Director Patrick J. Bartels, Jr. bought 7,500 shares of Millrose Properties stock in a transaction on Tuesday, October 28th. The stock was acquired at an average price of $32.52 per share, with a total value of $243,900.00. Following the acquisition, the director directly owned 30,660 shares of the company’s stock, valued at $997,063.20. This represents a 32.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carlos A. Migoya purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were bought at an average price of $32.24 per share, for a total transaction of $32,240.00. Following the completion of the transaction, the director owned 16,766 shares of the company’s stock, valued at approximately $540,535.84. This trade represents a 6.34% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 11,476 shares of company stock worth $373,264 in the last quarter.

Institutional Trading of Millrose Properties

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. grew its position in shares of Millrose Properties by 9.9% during the 3rd quarter. Bessemer Group Inc. now owns 3,506 shares of the company’s stock valued at $119,000 after purchasing an additional 317 shares in the last quarter. Horiko Capital Management LLC raised its position in shares of Millrose Properties by 2.1% in the second quarter. Horiko Capital Management LLC now owns 15,732 shares of the company’s stock worth $451,000 after buying an additional 323 shares in the last quarter. Amalgamated Bank boosted its stake in Millrose Properties by 0.9% during the third quarter. Amalgamated Bank now owns 36,731 shares of the company’s stock valued at $1,235,000 after buying an additional 334 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Millrose Properties by 0.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 125,165 shares of the company’s stock worth $4,007,000 after buying an additional 338 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Millrose Properties by 55.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock worth $34,000 after acquiring an additional 357 shares during the last quarter.

Millrose Properties Company Profile

(Get Free Report)

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.

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