Millrose Properties, Inc. (NYSE:MRP) Receives Consensus Rating of “Buy” from Brokerages

Millrose Properties, Inc. (NYSE:MRP) has received a consensus recommendation of “Buy” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $36.90.

A number of research analysts have recently issued reports on the stock. Citigroup lifted their price objective 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. Citizens Jmp started coverage on Millrose Properties in a research note on Wednesday, October 8th. They set a “mkt outperform” rating and a $40.00 price target for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Millrose Properties in a report on Wednesday, October 8th. BTIG Research assumed coverage on Millrose Properties in a report on Monday, December 1st. They issued a “buy” rating and a $35.00 target price on the stock. Finally, JMP Securities started coverage on Millrose Properties in a report on Wednesday, October 8th. They set a “market outperform” rating and a $40.00 price target for the company.

Millrose Properties Stock Performance

Shares of NYSE:MRP opened at $30.08 on Friday. Millrose Properties has a 1 year low of $19.00 and a 1 year high of $36.00. The stock has a market capitalization of $4.99 billion and a price-to-earnings ratio of 17.69. 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 company’s 50 day simple moving average is $31.22 and its 200 day simple moving average is $31.43.

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

Millrose Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, January 5th will be paid a $0.75 dividend. The ex-dividend date is Monday, January 5th. This represents a $3.00 dividend on an annualized basis and a yield of 10.0%. This is an increase from Millrose Properties’s previous quarterly dividend of $0.73. Millrose Properties’s dividend payout ratio (DPR) is presently 171.76%.

Insider Activity

In other Millrose Properties news, Director Patrick J. Bartels, Jr. bought 7,500 shares of Millrose Properties stock in a transaction that occurred on Tuesday, October 28th. The stock was acquired 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 in the company, valued at $997,063.20. This represents a 32.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew B. Gorson bought 2,500 shares of the business’s stock in a transaction on Wednesday, October 29th. The stock was purchased at an average cost of $32.69 per share, with a total value of $81,725.00. Following the purchase, the director owned 18,160 shares of the company’s stock, valued at $593,650.40. This represents a 15.96% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 11,476 shares of company stock worth $373,264.

Institutional Investors Weigh In On Millrose Properties

Several institutional investors and hedge funds have recently modified their holdings of MRP. CIBC Private Wealth Group LLC increased its holdings in Millrose Properties by 53.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,654 shares of the company’s stock worth $156,000 after buying an additional 1,616 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Millrose Properties during the 3rd quarter valued at about $1,130,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Millrose Properties by 984.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,323 shares of the company’s stock valued at $44,000 after acquiring an additional 1,201 shares during the last quarter. XTX Topco Ltd grew its stake in shares of Millrose Properties by 193.5% in the third quarter. XTX Topco Ltd now owns 21,978 shares of the company’s stock worth $739,000 after acquiring an additional 14,491 shares during the period. Finally, Utah Retirement Systems purchased a new position in shares of Millrose Properties during the third quarter valued at approximately $214,000.

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.