Millrose Properties, Inc. (NYSE:MRP) Announces Dividend Increase – $0.79 Per Share

Millrose Properties, Inc. (NYSE:MRP) declared a quarterly dividend on Wednesday, September 23rd. Investors of record on Monday, October 5th will be paid a dividend of 0.79 per share on Thursday, October 15th. This represents a c) dividend on an annualized basis and a dividend 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 Trading Up 1.1%

MRP traded up $0.30 on Thursday, hitting $27.11. The company had a trading volume of 538,810 shares, compared to its average volume of 1,430,003. The business’s fifty day simple moving average is $29.60 and its 200 day simple moving average is $29.12. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.42. Millrose Properties has a 12-month low of $26.30 and a 12-month high of $34.63. The company has a market cap of $4.18 billion, a PE ratio of 9.46 and a beta of 0.41.

Millrose Properties (NYSE:MRP) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.01. The business had revenue of $196.85 million for the quarter. Millrose Properties had a return on equity of 8.13% and a net margin of 62.60%.

Insider Transactions at Millrose Properties

In other news, Director Matthew Gorson purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average cost of $28.80 per share, for a total transaction of $86,400.00. Following the acquisition, the director owned 38,750 shares of the company’s stock, valued at approximately $1,116,000. This trade represents a 8.39% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carlos Migoya acquired 1,000 shares of Millrose Properties stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average cost of $29.18 per share, for a total transaction of $29,180.00. Following the completion of the transaction, the director directly owned 30,075 shares in the company, valued at $877,588.50. This trade represents a 3.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Millrose Properties

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cannell & Spears LLC increased its stake in Millrose Properties by 1.4% in the first quarter. Cannell & Spears LLC now owns 3,677,754 shares of the company’s stock worth $102,723,000 after purchasing an additional 49,702 shares during the period. Norges Bank purchased a new stake in shares of Millrose Properties during the fourth quarter valued at $101,800,000. Geode Capital Management LLC grew its holdings in shares of Millrose Properties by 29.1% in the fourth quarter. Geode Capital Management LLC now owns 2,909,575 shares of the company’s stock worth $86,928,000 after purchasing an additional 655,706 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Millrose Properties in the second quarter worth about $54,348,000. Finally, Moore Capital Management LP increased its stake in Millrose Properties by 275.0% in the 4th quarter. Moore Capital Management LP now owns 1,018,533 shares of the company’s stock worth $30,424,000 after buying an additional 746,923 shares during the period.

About Millrose Properties

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.