Matthew Gorson Acquires 3,000 Shares of Millrose Properties (NYSE:MRP) Stock

Millrose Properties, Inc. (NYSE:MRP) Director Matthew Gorson acquired 3,000 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was acquired at an average cost of $28.80 per share, with a total value of $86,400.00. Following the purchase, the director directly owned 38,750 shares in the company, valued at $1,116,000. This represents a 8.39% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Millrose Properties Price Performance

Shares of Millrose Properties stock opened at $29.68 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.05 and a quick ratio of 0.05. Millrose Properties, Inc. has a one year low of $26.30 and a one year high of $36.00. The business’s 50 day simple moving average is $28.89 and its two-hundred day simple moving average is $29.27. The stock has a market capitalization of $4.58 billion, a P/E ratio of 10.34 and a beta of 0.39.

Millrose Properties (NYSE:MRP) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.76 earnings per share for the quarter, beating 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 company 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. This represents a $3.08 annualized dividend and a yield of 10.4%. The ex-dividend date of this dividend was Monday, July 6th. This is an increase from Millrose Properties’s previous quarterly dividend of $0.76. Millrose Properties’s dividend payout ratio is currently 107.32%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Weiss Ratings upgraded shares of Millrose Properties from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. Wall Street Zen cut 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 assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $37.67.

Hedge Funds Weigh In On Millrose Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sound Income Strategies LLC bought a new stake in Millrose Properties in the fourth quarter valued at $29,000. Root Financial Partners LLC raised its holdings in Millrose Properties by 3,090.6% in the 4th quarter. Root Financial Partners LLC now owns 1,021 shares of the company’s stock worth $30,000 after purchasing an additional 989 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Millrose Properties in the 1st quarter worth about $39,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Millrose Properties by 984.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,323 shares of the company’s stock worth $44,000 after purchasing an additional 1,201 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of Millrose Properties by 33.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,503 shares of the company’s stock valued at $45,000 after purchasing an additional 380 shares in the last quarter.

About Millrose Properties

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.