Key Points
- Director Carlos Migoya purchased 1,000 shares of Millrose Properties at $29.18 each, investing $29,180 and increasing his direct ownership by 3.44% to 30,075 shares.
- Millrose reported quarterly EPS of $0.76, slightly ahead of the $0.75 consensus estimate, on revenue of $196.85 million.
- The company raised its quarterly dividend to $0.77 per share, representing an annualized dividend of $3.08 and a stated yield of 10.7%; analysts maintain a consensus “Buy” rating with a $37.67 price target.
Millrose Properties, Inc. (NYSE:MRP - Get Free Report) Director Carlos Migoya purchased 1,000 shares of Millrose Properties stock in a transaction on Friday, August 7th. The shares were acquired at an average cost of $29.18 per share, with a total value of $29,180.00. Following the completion of the transaction, the director directly owned 30,075 shares in the company, valued at $877,588.50. The trade was a 3.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Millrose Properties Stock Performance
Shares of NYSE MRP opened at $28.83 on Tuesday. The company has a 50 day simple moving average of $28.85 and a two-hundred day simple moving average of $29.28. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 10.05 and a beta of 0.39. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.42. Millrose Properties, Inc. has a 12 month low of $26.30 and a 12 month high of $36.00.
Millrose Properties (NYSE:MRP - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.01. Millrose Properties had a net margin of 62.60% and a return on equity of 8.13%. The firm had revenue of $196.85 million during the quarter.
Millrose Properties Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, July 6th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $3.08 annualized dividend and a yield of 10.7%. This is an increase from Millrose Properties's previous quarterly dividend of $0.76. Millrose Properties's payout ratio is 107.32%.
Hedge Funds Weigh In On Millrose Properties
A number of institutional investors and hedge funds have recently bought and sold shares of MRP. Vanguard Group Inc. raised its stake in Millrose Properties by 16.3% during the fourth quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company's stock worth $630,769,000 after purchasing an additional 2,960,066 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Millrose Properties by 24.4% in the 4th quarter. State of Alaska Department of Revenue now owns 180,194 shares of the company's stock valued at $5,381,000 after buying an additional 35,304 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Millrose Properties by 7.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,928,856 shares of the company's stock worth $57,615,000 after buying an additional 138,227 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Millrose Properties during the 4th quarter valued at approximately $2,514,000. Finally, Thrivent Financial for Lutherans raised its position in shares of Millrose Properties by 34.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 726,605 shares of the company's stock valued at $21,703,000 after buying an additional 187,243 shares during the period.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on MRP shares. Weiss Ratings raised Millrose Properties from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, August 5th. Wall Street Zen lowered Millrose Properties from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $37.67.
Check Out Our Latest Research Report on MRP
About Millrose Properties
(
Get Free Report)
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.
Further Reading
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