Insider Buying: Millrose Properties (NYSE:MRP) Director Purchases 1,000 Shares of Stock

Key Points

• Director Carlos Migoya bought 1,000 Millrose Properties shares at an average price of $29.18, increasing his direct holdings by 3.44% to 30,075 shares.
• Millrose reported quarterly EPS of $0.76, slightly above the $0.75 analyst consensus, on revenue of $196.85 million.
• The company raised its quarterly dividend to $0.77, equivalent to an annualized $3.08 payout and a 10.7% yield, though its payout ratio is above 100%.

Millrose Properties, Inc. (NYSE:MRP - Get Free Report) Director Carlos Migoya bought 1,000 shares of the stock in a transaction dated Friday, August 7th. The shares were bought at an average cost of $29.18 per share, with a total value of $29,180.00. Following the completion of the acquisition, the director directly owned 30,075 shares of the company's stock, valued at approximately $877,588.50. The trade was a 3.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Millrose Properties Stock Performance

Shares of Millrose Properties stock traded down $0.15 on Monday, reaching $28.83. 913,747 shares of the company were exchanged, compared to its average volume of 1,467,095. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 10.05 and a beta of 0.39. Millrose Properties, Inc. has a 1-year low of $26.30 and a 1-year high of $36.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.05 and a current ratio of 0.05. The company's 50-day moving average is $28.85 and its two-hundred day moving average is $29.28.

Millrose Properties (NYSE:MRP - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.01. The business had revenue of $196.85 million during the quarter. Millrose Properties had a return on equity of 8.13% and a net margin of 62.60%.

Millrose Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Monday, July 6th were issued a $0.77 dividend. This is a boost from Millrose Properties's previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Monday, July 6th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 10.7%. Millrose Properties's dividend payout ratio is 107.32%.

Hedge Funds Weigh In On Millrose Properties

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Millrose Properties during the fourth quarter valued at approximately $101,800,000. Vanguard Group Inc. grew 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 increased its holdings in shares of Millrose Properties by 116.4% in the fourth quarter. Permian Investment Partners LP now owns 3,794,312 shares of the company's stock valued at $113,336,000 after buying an additional 2,040,900 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Millrose Properties in the second quarter valued at $54,348,000. Finally, State Street Corp lifted its position in shares of 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 acquiring an additional 950,421 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MRP. Wall Street Zen lowered shares of Millrose Properties from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings upgraded shares of Millrose Properties from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $37.67.

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.

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