Matthew Gorson Buys 2,500 Shares of Millrose Properties (NYSE:MRP) Stock

Millrose Properties, Inc. (NYSE:MRP) Director Matthew Gorson purchased 2,500 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were acquired at an average price 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Millrose Properties Stock Down 0.6%

Shares of NYSE:MRP opened at $32.20 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.46 and a quick ratio of 0.46. The firm has a market capitalization of $5.35 billion and a PE ratio of 18.94. The firm’s 50-day moving average is $33.58 and its two-hundred day moving average is $30.23. Millrose Properties, Inc. has a 1 year low of $19.00 and a 1 year high of $36.00.

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

Millrose Properties Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Friday, October 3rd were paid a dividend of $0.73 per share. The ex-dividend date was Friday, October 3rd. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.69. This represents a $2.92 dividend on an annualized basis and a dividend yield of 9.1%. Millrose Properties’s payout ratio is currently 171.76%.

Wall Street Analysts Forecast Growth

MRP has been the topic of a number of recent research reports. Citizens Jmp initiated coverage on shares of Millrose Properties in a research note on Wednesday, October 8th. They set a “mkt outperform” rating and a $40.00 target price on the stock. Citigroup upped their target price on shares of Millrose Properties from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of Millrose Properties in a research note on Wednesday, October 8th. Finally, JMP Securities initiated coverage on shares of Millrose Properties in a research note on Wednesday, October 8th. They set a “market outperform” rating and a $40.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Millrose Properties has a consensus rating of “Moderate Buy” and a consensus price target of $37.38.

Hedge Funds Weigh In On Millrose Properties

Hedge funds have recently added to or reduced their stakes in the stock. 683 Capital Management LLC purchased a new position in Millrose Properties in the first quarter valued at approximately $9,411,000. Bessemer Group Inc. purchased a new position in Millrose Properties in the first quarter valued at approximately $81,000. Blair William & Co. IL purchased a new position in Millrose Properties in the first quarter valued at approximately $351,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Millrose Properties in the first quarter valued at approximately $659,000. Finally, Pacific Heights Asset Management LLC purchased a new position in Millrose Properties in the first quarter valued at approximately $8,748,000.

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.