Millrose Properties, Inc. $MRP Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in shares of Millrose Properties, Inc. (NYSE:MRP) by 53.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 431,632 shares of the company’s stock after purchasing an additional 151,063 shares during the period. JPMorgan Chase & Co. owned approximately 0.26% of Millrose Properties worth $12,306,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MRP. Northwestern Mutual Wealth Management Co. acquired a new position in Millrose Properties during the 1st quarter valued at about $27,000. Summit Securities Group LLC acquired a new stake in Millrose Properties in the first quarter worth about $28,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Millrose Properties by 144.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 973 shares of the company’s stock worth $28,000 after acquiring an additional 575 shares during the last quarter. William B. Walkup & Associates Inc. acquired a new position in shares of Millrose Properties during the first quarter valued at about $29,000. Finally, First Financial Corp IN acquired a new position in shares of Millrose Properties during the second quarter valued at about $32,000.

Insiders Place Their Bets

In related news, Director Matthew B. Gorson bought 2,500 shares of the stock in a transaction dated Wednesday, October 29th. The shares were purchased at an average price of $32.69 per share, for a total transaction of $81,725.00. Following the completion of the purchase, the director directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick J. Bartels, Jr. bought 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The shares were bought at an average cost of $32.52 per share, for a total transaction of $243,900.00. Following the completion of the acquisition, the director owned 30,660 shares of the company’s stock, valued at $997,063.20. This trade represents a 32.38% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 11,476 shares of company stock valued at $373,264.

Analysts Set New Price Targets

A number of research firms recently commented on MRP. Citigroup lifted their target price on shares of Millrose Properties from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Millrose Properties in a report on Wednesday, October 8th. JMP Securities initiated coverage on shares of Millrose Properties in a research note on Wednesday, October 8th. They set a “market outperform” rating and a $40.00 price objective for the company. Citizens Jmp began coverage on shares of Millrose Properties in a report on Wednesday, October 8th. They set a “mkt outperform” rating and a $40.00 price objective on the stock. Finally, BTIG Research initiated coverage on Millrose Properties in a research note on Monday, December 1st. They issued a “buy” rating and a $35.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Millrose Properties currently has a consensus rating of “Buy” and an average target price of $36.90.

Millrose Properties Stock Performance

MRP opened at $31.72 on Monday. Millrose Properties, Inc. has a 12-month low of $19.00 and a 12-month high of $36.00. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $5.26 billion and a PE ratio of 18.66. The firm has a 50 day moving average of $31.73 and a two-hundred day moving average of $31.21.

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

Millrose Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Friday, October 3rd were issued a $0.73 dividend. 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 annualized dividend and a yield of 9.2%. Millrose Properties’s dividend payout ratio is currently 171.76%.

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.