Millrose Properties (NYSE:MRP) General Counsel Rachel Presa Purchases 476 Shares of Stock

Millrose Properties, Inc. (NYSE:MRP) General Counsel Rachel Presa bought 476 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was purchased at an average price of $32.35 per share, for a total transaction of $15,398.60. Following the purchase, the general counsel directly owned 1,468 shares in the company, valued at approximately $47,489.80. This represents a 47.98% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Millrose Properties Trading Down 0.6%

NYSE MRP opened at $32.20 on Friday. The stock has a market capitalization of $5.35 billion and a price-to-earnings ratio of 18.94. The stock’s 50 day moving average price is $33.58 and its two-hundred day moving average price is $30.23. 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, Inc. has a 52 week low of $19.00 and a 52 week high of $36.00.

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

Millrose Properties Increases Dividend

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

Institutional Investors Weigh In On Millrose Properties

A number of institutional investors and hedge funds have recently made changes to their positions in MRP. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Millrose Properties during the 1st quarter worth approximately $27,000. Summit Securities Group LLC bought a new stake in Millrose Properties in the 1st quarter valued at $28,000. MassMutual Private Wealth & Trust FSB raised its stake in Millrose Properties by 144.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 973 shares of the company’s stock valued at $28,000 after acquiring an additional 575 shares during the period. William B. Walkup & Associates Inc. bought a new stake in Millrose Properties in the 1st quarter valued at $29,000. Finally, Salomon & Ludwin LLC bought a new stake in Millrose Properties in the 3rd quarter valued at $29,000.

Wall Street Analysts Forecast Growth

Several research firms have commented on MRP. Citizens Jmp began 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 target price on Millrose Properties from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday. JMP Securities began coverage on Millrose Properties in a research note on Wednesday, October 8th. They set a “market outperform” rating and a $40.00 price objective on the stock. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Millrose Properties in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average 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.