Police & Firemen s Retirement System of New Jersey Purchases 28,088 Shares of Millrose Properties, Inc. $MRP

Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Millrose Properties, Inc. (NYSE:MRP) by 155.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 46,103 shares of the company’s stock after acquiring an additional 28,088 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Millrose Properties were worth $1,314,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. bought a new position in Millrose Properties during the 1st quarter worth $2,090,000. New York State Common Retirement Fund bought a new position in shares of Millrose Properties during the first quarter worth about $1,573,000. Victory Capital Management Inc. bought a new position in shares of Millrose Properties during the first quarter worth about $249,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Millrose Properties in the first quarter worth approximately $796,000. Finally, Allianz Asset Management GmbH bought a new stake in Millrose Properties in the first quarter valued at approximately $1,018,000.

Millrose Properties Stock Up 4.1%

Millrose Properties stock opened at $30.43 on Friday. Millrose Properties, Inc. has a 1-year low of $19.00 and a 1-year high of $36.00. The firm has a market capitalization of $5.05 billion and a price-to-earnings ratio of 17.90. The firm’s fifty day moving average price is $32.41 and its two-hundred day moving average price is $30.88. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34.

Millrose Properties (NYSE:MRP) last posted its 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 firm had revenue of $179.26 million during the quarter.

Millrose Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Friday, October 3rd were issued a $0.73 dividend. This is an increase from Millrose Properties’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $2.92 dividend on an annualized basis and a dividend yield of 9.6%. Millrose Properties’s payout ratio is presently 171.76%.

Insider Activity at Millrose Properties

In related news, Director Carlos A. Migoya bought 1,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were purchased at an average cost of $32.24 per share, for a total transaction of $32,240.00. Following the completion of the purchase, the director directly 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Matthew B. Gorson acquired 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was purchased at an average price of $32.69 per share, for a total transaction of $81,725.00. Following the purchase, the director owned 18,160 shares of the company’s stock, valued at $593,650.40. The trade was a 15.96% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 11,476 shares of company stock worth $373,264.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. 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 target on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Millrose Properties in a report on Wednesday, October 8th. 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 report on Wednesday, October 29th. Finally, Citizens Jmp started coverage on Millrose Properties in a report on Wednesday, October 8th. They set a “mkt outperform” rating and a $40.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.38.

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.