Millrose Properties (NYSE:MRP) Director Patrick Bartels, Jr. Buys 7,500 Shares

Millrose Properties, Inc. (NYSE:MRP) Director Patrick Bartels, Jr. acquired 7,500 shares of the firm’s stock in a transaction on Tuesday, October 28th. The shares were acquired at an average price of $32.52 per share, with a total value of $243,900.00. Following the completion of the transaction, the director directly owned 30,660 shares in the company, valued at approximately $997,063.20. This trade represents a 32.38% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Millrose Properties Trading Down 2.0%

Shares of NYSE MRP opened at $32.06 on Thursday. Millrose Properties, Inc. has a one year low of $19.00 and a one year high of $36.00. The firm has a market capitalization of $5.32 billion and a PE ratio of 18.86. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $33.64 and a two-hundred day moving average price of $30.16.

Millrose Properties (NYSE:MRP) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.68 EPS for the quarter. The business had revenue of $149.00 million for the quarter.

Millrose Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Friday, October 3rd were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 9.1%. The ex-dividend date of this dividend 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 (DPR) is presently 171.76%.

Institutional Investors Weigh In On Millrose Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRP. GAMMA Investing LLC acquired a new stake in Millrose Properties in the 1st quarter worth approximately $67,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Millrose Properties in the 1st quarter worth approximately $323,000. Bessemer Group Inc. acquired a new stake in Millrose Properties in the 1st quarter worth approximately $81,000. Golden State Wealth Management LLC acquired a new stake in Millrose Properties in the 1st quarter worth approximately $37,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in Millrose Properties in the 1st quarter worth approximately $1,143,000.

Wall Street Analysts Forecast Growth

MRP has been the subject of several recent research reports. Citigroup boosted their price target on Millrose Properties from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday. JMP Securities initiated coverage on Millrose Properties in a research note on Wednesday, October 8th. They issued a “market outperform” rating and a $40.00 price target for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Millrose Properties in a research note on Wednesday, October 8th. Finally, Citizens Jmp initiated coverage on Millrose Properties in a research note on Wednesday, October 8th. They issued a “mkt outperform” rating and a $40.00 price target for the company. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Millrose Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.38.

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.