GM Advisory Group LLC Increases Stake in Millrose Properties, Inc. $MRP

GM Advisory Group LLC lifted its stake in shares of Millrose Properties, Inc. (NYSE:MRP) by 80.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,175 shares of the company’s stock after buying an additional 9,025 shares during the quarter. GM Advisory Group LLC’s holdings in Millrose Properties were worth $575,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MRP. 683 Capital Management LLC purchased a new stake in shares of Millrose Properties during the 1st quarter worth $9,411,000. Blair William & Co. IL acquired a new stake in Millrose Properties in the first quarter valued at $351,000. Russell Investments Group Ltd. acquired a new stake in Millrose Properties in the first quarter valued at $4,569,000. Fractal Investments LLC purchased a new stake in Millrose Properties during the 2nd quarter worth about $257,000. Finally, Hawk Ridge Capital Management LP acquired a new position in shares of Millrose Properties during the 1st quarter worth about $7,610,000.

Insider Buying and Selling at Millrose Properties

In related news, Director Patrick J. Bartels, Jr. purchased 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The stock was purchased at an average cost of $32.52 per share, with a total value of $243,900.00. Following the completion of the acquisition, the director directly owned 30,660 shares in the company, valued at $997,063.20. This trade represents a 32.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carlos A. Migoya acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was purchased at an average price of $32.24 per share, for a total transaction of $32,240.00. Following the completion of the transaction, 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. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 11,476 shares of company stock worth $373,264.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Citigroup raised their target price on Millrose Properties from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. JMP Securities assumed coverage on shares of Millrose Properties in a report on Wednesday, October 8th. They set a “market outperform” rating and a $40.00 price objective on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Millrose Properties in a research report on Wednesday, October 8th. Finally, Citizens Jmp initiated coverage on shares of Millrose Properties in a research report on Wednesday, October 8th. They issued a “mkt outperform” rating and a $40.00 target price on the stock. 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.38.

Millrose Properties Trading Down 3.5%

Shares of Millrose Properties stock opened at $30.60 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.46 and a current ratio of 0.46. The company has a market capitalization of $5.08 billion and a P/E ratio of 18.00. Millrose Properties, Inc. has a 1 year low of $19.00 and a 1 year high of $36.00. The company’s fifty day moving average is $32.12 and its two-hundred day moving average is $31.03.

Millrose Properties (NYSE:MRP) last announced its earnings results on Thursday, October 23rd. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The firm had revenue of $179.26 million for the quarter.

Millrose Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Friday, October 3rd were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date of this dividend was Friday, October 3rd. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.69. Millrose Properties’s payout ratio is 171.76%.

Millrose Properties 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.