Bank of New York Mellon Corp Has $19.35 Million Stock Holdings in Millrose Properties, Inc. $MRP

Bank of New York Mellon Corp increased its stake in shares of Millrose Properties, Inc. (NYSE:MRP) by 7.4% in the second quarter, Holdings Channel reports. The firm owned 678,786 shares of the company’s stock after buying an additional 46,830 shares during the quarter. Bank of New York Mellon Corp’s holdings in Millrose Properties were worth $19,352,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. acquired a new position in shares of Millrose Properties during the 1st quarter worth about $2,090,000. Arizona State Retirement System acquired a new stake in shares of Millrose Properties in the 1st quarter valued at approximately $892,000. New York State Common Retirement Fund bought a new position in Millrose Properties during the 1st quarter worth approximately $1,573,000. CWM LLC acquired a new position in Millrose Properties during the first quarter valued at approximately $1,339,000. Finally, Signaturefd LLC bought a new stake in Millrose Properties in the first quarter valued at approximately $142,000.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MRP. JMP Securities assumed coverage on shares of Millrose Properties in a research report on Wednesday, October 8th. They issued a “market outperform” rating and a $40.00 price objective for the company. 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, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Millrose Properties in a research report on Wednesday, October 8th. Finally, Citizens Jmp assumed coverage on Millrose Properties in a report on Wednesday, October 8th. They set a “mkt outperform” rating and a $40.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.38.

Millrose Properties Stock Performance

NYSE MRP opened at $31.17 on Monday. The firm has a market capitalization of $5.17 billion and a P/E ratio of 18.33. 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 firm’s fifty day moving average price is $32.92 and its two-hundred day moving average price is $30.82. Millrose Properties, Inc. has a 1 year low of $19.00 and a 1 year high of $36.00.

Millrose Properties (NYSE:MRP) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $179.26 million during the quarter.

Millrose Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Friday, October 3rd were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 9.4%. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Friday, October 3rd. Millrose Properties’s dividend payout ratio (DPR) is presently 171.76%.

Insider Buying and Selling at Millrose Properties

In related news, Director Carlos A. Migoya bought 1,000 shares of Millrose Properties stock in a transaction that occurred on Wednesday, November 12th. The stock was acquired at an average price of $32.24 per share, with a total value of $32,240.00. Following the acquisition, the director owned 16,766 shares of the company’s stock, valued at approximately $540,535.84. This represents a 6.34% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patrick J. Bartels, Jr. bought 7,500 shares of Millrose Properties stock in a transaction that occurred on Tuesday, October 28th. The shares were bought at an average cost of $32.52 per share, with a total value of $243,900.00. Following the acquisition, the director directly owned 30,660 shares in the company, valued at $997,063.20. This trade represents a 32.38% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 11,476 shares of company stock worth $373,264 over the last ninety days.

Millrose Properties Profile

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.