Insider Buying: Millrose Properties (NYSE:MRP) Director Acquires $30,660.00 in Stock

Millrose Properties, Inc. (NYSE:MRP) Director Matthew Gorson bought 1,000 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was purchased at an average price of $30.66 per share, for a total transaction of $30,660.00. Following the purchase, the director owned 25,611 shares of the company’s stock, valued at approximately $785,233.26. This represents a 4.06% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Millrose Properties Price Performance

Shares of MRP opened at $29.53 on Thursday. Millrose Properties, Inc. has a twelve month low of $21.02 and a twelve month high of $36.00. The company has a market capitalization of $4.90 billion and a P/E ratio of 12.10. The firm has a 50 day moving average of $30.55 and a 200 day moving average of $31.67. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.36.

Millrose Properties (NYSE:MRP) last issued its earnings results on Thursday, February 26th. The company reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $189.50 million for the quarter. Millrose Properties had a return on equity of 6.90% and a net margin of 67.42%.

Millrose Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, January 5th were given a $0.75 dividend. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, January 5th. This represents a $3.00 dividend on an annualized basis and a yield of 10.2%. Millrose Properties’s payout ratio is presently 122.95%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MRP. BTIG Research started coverage on shares of Millrose Properties in a research note on Monday, December 1st. They issued a “buy” rating and a $35.00 price target for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Millrose Properties in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $36.13.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Millrose Properties during the fourth quarter worth about $101,800,000. Vanguard Group Inc. lifted its position in Millrose Properties by 16.3% in the fourth quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company’s stock worth $630,769,000 after buying an additional 2,960,066 shares during the last quarter. Permian Investment Partners LP boosted its stake in shares of Millrose Properties by 116.4% during the 4th 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 period. Blue Whale Capital LLP lifted its stake in shares of Millrose Properties by 89.1% during the 3rd quarter. Blue Whale Capital LLP now owns 2,267,144 shares of the company’s stock worth $76,199,000 after acquiring an additional 1,068,075 shares during the last quarter. Finally, State Street Corp lifted its holdings in Millrose Properties by 23.0% during the 4th 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.