Brokerages Set Millrose Properties, Inc. (NYSE:MRP) Price Target at $36.90

Millrose Properties, Inc. (NYSE:MRP) has received an average rating of “Buy” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $36.90.

Several equities research analysts have recently commented on the company. Citigroup boosted their price objective on Millrose Properties from $34.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Millrose Properties in a research note on Thursday. BTIG Research started coverage on shares of Millrose Properties in a report on Monday, December 1st. They set a “buy” rating and a $35.00 price objective on the stock. Citizens Jmp initiated coverage on shares of Millrose Properties in a report on Wednesday, October 8th. They set a “mkt outperform” rating and a $40.00 price objective for the company. Finally, JMP Securities initiated coverage on shares of Millrose Properties in a report on Wednesday, October 8th. They issued a “market outperform” rating and a $40.00 target price on the stock.

Insider Buying and Selling

In other news, Director Carlos A. Migoya acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was purchased at an average price of $32.24 per share, for a total transaction of $32,240.00. Following the purchase, the director owned 16,766 shares in the company, valued at approximately $540,535.84. This represents a 6.34% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Matthew B. Gorson bought 2,500 shares of Millrose Properties stock in a transaction dated Wednesday, October 29th. The stock was acquired at an average cost of $32.69 per share, with a total value of $81,725.00. Following the completion of the acquisition, the director owned 18,160 shares of the company’s stock, valued at $593,650.40. This represents a 15.96% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 3,976 shares of company stock worth $129,364 in the last 90 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Baird Financial Group Inc. bought a new position in Millrose Properties in the 1st quarter valued at $224,000. Royal Bank of Canada bought a new position in Millrose Properties during the first quarter valued at about $1,508,000. Advisors Asset Management Inc. purchased a new stake in Millrose Properties during the first quarter worth about $45,000. NewEdge Advisors LLC purchased a new stake in Millrose Properties during the first quarter worth about $39,000. Finally, Goldman Sachs Group Inc. bought a new stake in Millrose Properties in the first quarter worth about $18,093,000.

Millrose Properties Stock Performance

Shares of MRP opened at $29.82 on Tuesday. Millrose Properties has a one year low of $19.00 and a one year high of $36.00. The company has a market cap of $4.95 billion and a PE ratio of 17.54. The stock has a 50-day moving average of $30.42 and a 200-day moving average of $31.80. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.46 and a quick ratio of 0.46.

Millrose Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, January 5th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 10.1%. This is a boost from Millrose Properties’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, January 5th. Millrose Properties’s dividend payout ratio (DPR) is currently 176.47%.

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.