Millrose Properties (NYSE:MRP) Director Carlos Migoya Buys 1,000 Shares

Millrose Properties, Inc. (NYSE:MRP) Director Carlos Migoya bought 1,000 shares of the company’s stock in a transaction on Friday, August 7th. The shares were acquired at an average price of $29.18 per share, with a total value of $29,180.00. Following the transaction, the director directly owned 30,075 shares of the company’s stock, valued at approximately $877,588.50. This trade represents a 3.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Millrose Properties Trading Down 0.5%

MRP opened at $28.83 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.05 and a current ratio of 0.05. The stock’s 50 day moving average price is $28.85 and its 200-day moving average price is $29.28. Millrose Properties, Inc. has a one year low of $26.30 and a one year high of $36.00. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 10.05 and a beta of 0.39.

Millrose Properties (NYSE:MRP) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.01. Millrose Properties had a return on equity of 8.13% and a net margin of 62.60%.The firm had revenue of $196.85 million during the quarter.

Millrose Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, July 6th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 10.7%. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.76. The ex-dividend date was Monday, July 6th. Millrose Properties’s dividend payout ratio is 107.32%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Millrose Properties from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Wall Street Zen cut shares of Millrose Properties from a “buy” rating to a “hold” rating in a research report 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. According to data from MarketBeat, Millrose Properties presently has an average rating of “Buy” and a consensus target price of $37.67.

Institutional Trading of Millrose Properties

Large investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Millrose Properties during the fourth quarter valued at $101,800,000. Vanguard Group Inc. raised its stake in Millrose Properties by 16.3% in the 4th quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company’s stock worth $630,769,000 after acquiring an additional 2,960,066 shares during the last quarter. Permian Investment Partners LP lifted its position in Millrose Properties by 116.4% during the 4th quarter. Permian Investment Partners LP now owns 3,794,312 shares of the company’s stock worth $113,336,000 after acquiring an additional 2,040,900 shares during the period. Bank of New York Mellon Corp purchased a new stake in Millrose Properties during the 2nd quarter valued at about $54,348,000. Finally, State Street Corp grew its stake in Millrose Properties by 23.0% during the 4th quarter. State Street Corp now owns 5,080,719 shares of the company’s stock valued at $151,761,000 after purchasing an additional 950,421 shares during the last quarter.

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.