Millrose Properties (NYSE:MRP) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Millrose Properties (NYSE:MRP) from a hold rating to a buy rating in a research note published on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Millrose Properties in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $36.13.

Millrose Properties Trading Up 0.0%

Shares of MRP opened at $27.64 on Friday. Millrose Properties has a twelve month low of $21.64 and a twelve month high of $36.00. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $4.59 billion, a P/E ratio of 11.33 and a beta of 0.34. The firm’s 50-day moving average is $29.97 and its two-hundred day moving average is $30.92.

Millrose Properties (NYSE:MRP) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, April 3rd will be given a dividend of $0.76 per share. The ex-dividend date is Thursday, April 2nd. This represents a $3.04 annualized dividend and a dividend yield of 11.0%. This is an increase from Millrose Properties’s previous quarterly dividend of $0.75. Millrose Properties’s payout ratio is presently 124.59%.

Insider Transactions at Millrose Properties

In related news, Director Matthew B. Gorson bought 1,000 shares of Millrose Properties stock in a transaction that occurred on Thursday, March 5th. The shares were purchased at an average price of $30.66 per share, with a total value of $30,660.00. Following the purchase, the director owned 25,611 shares in the company, valued at $785,233.26. This represents a 4.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Hedge Funds Weigh In On Millrose Properties

A number of institutional investors have recently made changes to their positions in MRP. Baird Financial Group Inc. purchased a new stake in shares of Millrose Properties in the first quarter valued at $224,000. Royal Bank of Canada purchased a new stake in Millrose Properties during the 1st quarter worth about $1,508,000. Advisors Asset Management Inc. acquired a new position in Millrose Properties in the 1st quarter valued at about $45,000. NewEdge Advisors LLC acquired a new position in Millrose Properties in the 1st quarter valued at about $39,000. Finally, Goldman Sachs Group Inc. purchased a new position in Millrose Properties in the 1st quarter valued at about $18,093,000.

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.