Bank of New York Mellon Corp Has $19.35 Million Holdings in Millrose Properties, Inc. $MRP

Bank of New York Mellon Corp lifted its stake in shares of Millrose Properties, Inc. (NYSE:MRP) by 7.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 678,786 shares of the company’s stock after acquiring an additional 46,830 shares during the quarter. Bank of New York Mellon Corp owned about 0.41% of Millrose Properties worth $19,352,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MRP. Envestnet Asset Management Inc. acquired a new stake in Millrose Properties in the 1st quarter worth approximately $2,090,000. Arizona State Retirement System acquired a new stake in shares of Millrose Properties in the first quarter worth $892,000. New York State Common Retirement Fund bought a new stake in Millrose Properties during the first quarter valued at about $1,573,000. CWM LLC acquired a new stake in shares of Millrose Properties in the first quarter valued at about $1,339,000. Finally, Signaturefd LLC bought a new position in shares of Millrose Properties in the first quarter worth about $142,000.

Millrose Properties Stock Down 0.2%

MRP opened at $31.17 on Monday. Millrose Properties, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $36.00. The company has a market capitalization of $5.17 billion and a P/E ratio of 18.33. 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’s fifty day moving average price is $32.92 and its two-hundred day moving average price is $30.82.

Millrose Properties (NYSE:MRP) last released its quarterly earnings data 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 issued a dividend of $0.73 per share. 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. This represents a $2.92 dividend on an annualized basis and a yield of 9.4%. Millrose Properties’s dividend payout ratio (DPR) is presently 171.76%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MRP. Weiss Ratings reissued a “hold (c+)” rating on shares of Millrose Properties in a research report on Wednesday, October 8th. 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 for the company. JMP Securities initiated coverage on shares of Millrose Properties in a report on Wednesday, October 8th. They issued a “market outperform” rating and a $40.00 price target for the company. Finally, Citigroup raised their price target on shares of Millrose Properties from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.38.

Insider Buying and Selling at Millrose Properties

In related news, Director Patrick J. Bartels, Jr. purchased 7,500 shares of the stock in a transaction on Tuesday, October 28th. The shares were purchased at an average cost of $32.52 per share, for a total transaction of $243,900.00. Following the completion of the transaction, the director directly owned 30,660 shares of the company’s stock, valued at approximately $997,063.20. The trade was a 32.38% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew B. Gorson acquired 2,500 shares of the company’s stock in a transaction on Wednesday, October 29th. The shares were bought at an average price of $32.69 per share, with a total value 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 represents a 15.96% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 11,476 shares of company stock valued at $373,264.

Millrose Properties Company 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.