Millrose Properties (NYSE:MRP) Director Matthew Gorson Acquires 2,500 Shares of Stock

Millrose Properties, Inc. (NYSE:MRP) Director Matthew Gorson bought 2,500 shares of the firm’s stock in a transaction on Wednesday, October 29th. The stock was purchased at an average price of $32.69 per share, for a total transaction of $81,725.00. Following the completion of the acquisition, the director directly owned 18,160 shares in the company, valued at $593,650.40. The trade was a 15.96% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Millrose Properties Stock Performance

NYSE:MRP opened at $32.34 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.46 and a quick ratio of 0.46. The firm has a market capitalization of $5.37 billion and a price-to-earnings ratio of 19.02. The company’s 50-day moving average is $33.62 and its two-hundred day moving average is $30.17. Millrose Properties, Inc. has a 1-year low of $19.00 and a 1-year high of $36.00.

Millrose Properties (NYSE:MRP) last posted its earnings results on Thursday, July 31st. The company reported $0.68 earnings per share for the quarter. The firm had revenue of $149.00 million during the quarter.

Millrose Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Friday, October 3rd were issued a $0.73 dividend. The ex-dividend date was Friday, October 3rd. This represents a $2.92 annualized dividend and a dividend yield of 9.0%. This is an increase from Millrose Properties’s previous quarterly dividend of $0.69. Millrose Properties’s dividend payout ratio (DPR) is currently 171.76%.

Analysts Set New Price Targets

Several brokerages have recently commented on MRP. Citigroup upped their price objective on shares of Millrose Properties from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday. Citizens Jmp began coverage on shares of Millrose Properties in a report on Wednesday, October 8th. They issued a “mkt outperform” rating and a $40.00 price objective on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Millrose Properties in a report on Wednesday, October 8th. Finally, JMP Securities began coverage on shares of Millrose Properties in a report on Wednesday, October 8th. They issued a “market outperform” rating and a $40.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.38.

Institutional Investors Weigh In On Millrose Properties

A number of hedge funds have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas lifted its holdings in Millrose Properties by 36.9% during the 3rd quarter. Teacher Retirement System of Texas now owns 695,641 shares of the company’s stock worth $23,380,000 after buying an additional 187,662 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Millrose Properties by 588.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,922 shares of the company’s stock worth $65,000 after buying an additional 1,643 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Millrose Properties during the 3rd quarter worth approximately $296,000. Pacific Heights Asset Management LLC lifted its holdings in Millrose Properties by 42.9% during the 3rd quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the company’s stock worth $16,805,000 after buying an additional 150,000 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Millrose Properties by 0.3% during the 3rd 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.

About Millrose Properties

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.