Millrose Properties, Inc. (NYSE:MRP) Given Consensus Recommendation of “Buy” by Brokerages

Millrose Properties, Inc. (NYSE:MRP) has received a consensus recommendation of “Buy” from the five brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $36.90.

Several analysts recently weighed in on the company. BTIG Research assumed coverage on Millrose Properties in a report on Monday, December 1st. They issued a “buy” rating and a $35.00 price objective for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Millrose Properties in a report on Wednesday, October 8th. JMP Securities assumed coverage on shares of Millrose Properties in a research note on Wednesday, October 8th. They issued a “market outperform” rating and a $40.00 target price for the company. Citigroup upped their price target on shares of Millrose Properties from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Citizens Jmp initiated coverage on shares of Millrose Properties in a report on Wednesday, October 8th. They issued a “mkt outperform” rating and a $40.00 price target for the company.

Millrose Properties Trading Up 1.0%

NYSE:MRP opened at $30.08 on Friday. The business has a fifty day moving average price of $31.22 and a 200-day moving average price of $31.43. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.46 and a quick ratio of 0.46. Millrose Properties has a one year low of $19.00 and a one year high of $36.00. The firm has a market capitalization of $4.99 billion and a price-to-earnings ratio of 17.69.

Millrose Properties (NYSE:MRP) last released its quarterly earnings data 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 firm had revenue of $179.26 million for the quarter.

Millrose Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, January 5th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date of this dividend is Monday, January 5th. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.73. Millrose Properties’s dividend payout ratio is 171.76%.

Insiders Place Their Bets

In other news, Director Patrick J. Bartels, Jr. acquired 7,500 shares of the business’s stock in a transaction on Tuesday, October 28th. The stock was bought at an average cost of $32.52 per share, for a total transaction of $243,900.00. Following the purchase, the director owned 30,660 shares in the company, valued at approximately $997,063.20. This represents a 32.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Carlos A. Migoya bought 1,000 shares of the stock in a transaction on Wednesday, November 12th. The shares were acquired at an average cost of $32.24 per share, for a total transaction of $32,240.00. Following the purchase, the director owned 16,766 shares in the company, valued at $540,535.84. The trade was a 6.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders bought 11,476 shares of company stock worth $373,264.

Institutional Trading of Millrose Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in MRP. Brave Warrior Advisors LLC purchased a new stake in shares of Millrose Properties in the 1st quarter worth about $210,988,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Millrose Properties during the 1st quarter worth $84,773,000. Newtyn Management LLC acquired a new stake in Millrose Properties during the first quarter worth about $53,020,000. AQR Capital Management LLC purchased a new stake in shares of Millrose Properties during the 1st quarter worth about $48,429,000. Finally, Smead Capital Management Inc. acquired a new stake in Millrose Properties during the 1st quarter worth approximately $31,446,000.

Millrose Properties Company Profile

Millrose Properties Corp is a publicly traded real estate investment trust that focuses on the acquisition, ownership and development of industrial and logistics properties. The company seeks to capitalize on the growing demand for modern warehouse facilities driven by e-commerce, freight distribution and last-mile delivery requirements. Millrose structures its investments to generate stable, long-term rental income through diversified lease agreements with industrial and logistics operators.

The firm’s core activities include sourcing strategically located industrial assets, overseeing property management operations and executing targeted development or renovation projects.