Millrose Properties, Inc. (NYSE:MRP) Given Average Rating of “Buy” by Analysts

Shares of Millrose Properties, Inc. (NYSE:MRP) have been given a consensus recommendation of “Buy” by the five research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $36.90.

MRP has been the subject of several recent analyst reports. BTIG Research started coverage on Millrose Properties in a report on Monday, December 1st. They issued a “buy” rating and a $35.00 price target for the company. Citigroup lifted their target price on Millrose Properties from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Millrose Properties in a research report on Thursday, January 22nd.

Millrose Properties Stock Up 1.6%

Shares of NYSE:MRP opened at $31.96 on Friday. The company has a 50 day moving average price of $30.44 and a two-hundred day moving average price of $31.78. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.46 and a current ratio of 0.46. The company has a market capitalization of $5.31 billion and a PE ratio of 18.80. Millrose Properties has a 52 week low of $21.02 and a 52 week high of $36.00.

Millrose Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, January 5th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 9.4%. This is an increase from Millrose Properties’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, January 5th. Millrose Properties’s payout ratio is currently 176.47%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in Millrose Properties during the 4th quarter worth approximately $101,800,000. Vanguard Group Inc. increased its holdings in Millrose Properties by 16.3% in the 4th quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company’s stock valued at $630,769,000 after buying an additional 2,960,066 shares during the period. Permian Investment Partners LP lifted its stake in Millrose Properties by 116.4% during the fourth quarter. Permian Investment Partners LP now owns 3,794,312 shares of the company’s stock worth $113,336,000 after purchasing an additional 2,040,900 shares during the last quarter. Blue Whale Capital LLP boosted its stake in Millrose Properties by 89.1% in the third quarter. Blue Whale Capital LLP now owns 2,267,144 shares of the company’s stock valued at $76,199,000 after buying an additional 1,068,075 shares in the last quarter. Finally, State Street Corp boosted its position in Millrose Properties by 23.0% in the fourth quarter. State Street Corp now owns 5,080,719 shares of the company’s stock valued at $151,761,000 after buying an additional 950,421 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.