Millrose Properties, Inc. $MRP Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its stake in Millrose Properties, Inc. (NYSE:MRP) by 39.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 132,547 shares of the company’s stock after selling 86,650 shares during the quarter. Franklin Resources Inc. owned about 0.08% of Millrose Properties worth $3,779,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in Millrose Properties in the first quarter valued at approximately $27,000. Summit Securities Group LLC acquired a new stake in Millrose Properties during the 1st quarter valued at $28,000. MassMutual Private Wealth & Trust FSB increased its stake in Millrose Properties by 144.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 973 shares of the company’s stock worth $28,000 after buying an additional 575 shares during the period. William B. Walkup & Associates Inc. acquired a new position in Millrose Properties in the 1st quarter worth $29,000. Finally, First Financial Corp IN purchased a new position in Millrose Properties in the 2nd quarter valued at about $32,000.

Millrose Properties Trading Up 1.9%

NYSE:MRP opened at $30.81 on Wednesday. The company has a market cap of $5.12 billion and a PE ratio of 18.13. The business’s 50 day moving average is $31.88 and its two-hundred day moving average is $31.14. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.34. Millrose Properties, Inc. has a 52 week low of $19.00 and a 52 week high of $36.00.

Millrose Properties (NYSE:MRP) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company had revenue of $179.26 million during the quarter.

Millrose Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Friday, October 3rd were issued a $0.73 dividend. This is a boost 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 annualized dividend and a dividend yield of 9.5%. Millrose Properties’s dividend payout ratio (DPR) is presently 171.76%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MRP shares. JMP Securities assumed coverage on Millrose Properties in a research report on Wednesday, October 8th. They set a “market outperform” rating and a $40.00 target price on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Millrose Properties in a report on Wednesday, October 8th. Citizens Jmp initiated coverage on 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. BTIG Research initiated coverage on shares of Millrose Properties in a research report on Monday. They set a “buy” rating and a $35.00 price target for the company. Finally, 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 report on Wednesday, October 29th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.90.

Insider Activity at Millrose Properties

In related news, Director Carlos A. Migoya purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were acquired at an average price of $32.24 per share, with a total value of $32,240.00. Following the acquisition, the director owned 16,766 shares in the company, valued at approximately $540,535.84. This trade represents a 6.34% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew B. Gorson acquired 2,500 shares of the stock in a transaction that occurred 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 owned 18,160 shares in the company, valued at $593,650.40. The trade was a 15.96% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 11,476 shares of company stock valued at $373,264 in the last quarter.

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.