Millrose Properties, Inc. (NYSE:MRP) Given Average Rating of “Buy” by Analysts

Shares of Millrose Properties, Inc. (NYSE:MRP) have earned an average recommendation of “Buy” from the five research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $36.90.

Several equities research analysts recently weighed in on the company. Citizens Jmp began coverage on Millrose Properties in a report on Wednesday, October 8th. They set a “mkt outperform” rating and a $40.00 target price for the company. Citigroup increased their price objective on Millrose Properties from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. BTIG Research began coverage on shares of Millrose Properties in a research note on Monday. They issued a “buy” rating and a $35.00 target price on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Millrose Properties in a research 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 target on the stock.

Insider Buying and Selling at Millrose Properties

In other Millrose Properties news, Director Carlos A. Migoya acquired 1,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was acquired at an average price of $32.24 per share, for a total transaction of $32,240.00. Following the acquisition, the director owned 16,766 shares in the company, valued at $540,535.84. This represents a 6.34% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Matthew B. Gorson bought 2,500 shares of Millrose Properties stock in a transaction dated Wednesday, October 29th. The shares were acquired at an average cost of $32.69 per share, for a total transaction of $81,725.00. Following the completion of the purchase, the director directly owned 18,160 shares of the company’s stock, valued at approximately $593,650.40. This trade represents a 15.96% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 11,476 shares of company stock valued at $373,264 in the last 90 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its stake in shares of Millrose Properties by 9.9% during the 3rd quarter. Bessemer Group Inc. now owns 3,506 shares of the company’s stock valued at $119,000 after purchasing an additional 317 shares in the last quarter. Horiko Capital Management LLC boosted its position in Millrose Properties by 2.1% during the 2nd quarter. Horiko Capital Management LLC now owns 15,732 shares of the company’s stock valued at $451,000 after acquiring an additional 323 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Millrose Properties by 0.9% during the 3rd quarter. Amalgamated Bank now owns 36,731 shares of the company’s stock worth $1,235,000 after acquiring an additional 334 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Millrose Properties by 0.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 125,165 shares of the company’s stock worth $4,007,000 after acquiring an additional 338 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Millrose Properties by 55.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock valued at $34,000 after purchasing an additional 357 shares during the period.

Millrose Properties Price Performance

MRP stock opened at $31.72 on Monday. The firm has a market cap of $5.26 billion and a P/E ratio of 18.66. The firm’s fifty day moving average is $31.73 and its 200 day moving average is $31.17. Millrose Properties has a 52 week low of $19.00 and a 52 week high of $36.00. 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 (NYSE:MRP) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $179.26 million for the quarter.

Millrose Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Friday, October 3rd were paid a $0.73 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This is a boost from Millrose Properties’s previous quarterly dividend of $0.69. This represents a $2.92 annualized dividend and a dividend yield of 9.2%. Millrose Properties’s payout ratio is 171.76%.

Millrose Properties Company 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.