Matthew Gorson Buys 1,000 Shares of Millrose Properties (NYSE:MRP) Stock

Key Points

• Director Matthew Gorson bought 1,000 shares at an average price of $30.66 on March 5, a $30,660 transaction that raised his stake to 25,611 shares (a 4.06% increase).
• Millrose raised its quarterly dividend to $0.75 ($3.00 annualized), implying a 10.0% yield while carrying a high payout ratio of 122.95%.
• The REIT has a $4.97 billion market cap and a 12.27 P/E, reported Q EPS of $0.74 on $189.5M revenue, and holds a MarketBeat consensus rating of "Buy" with a $36.13 price target.

Millrose Properties, Inc. (NYSE:MRP - Get Free Report) Director Matthew Gorson purchased 1,000 shares of the business's stock in a transaction dated Thursday, March 5th. The shares were purchased at an average price of $30.66 per share, for a total transaction of $30,660.00. Following the acquisition, the director owned 25,611 shares of the company's stock, valued at approximately $785,233.26. The trade was a 4.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Millrose Properties Stock Up 0.6%

NYSE MRP traded up $0.18 during mid-day trading on Monday, reaching $29.95. The stock had a trading volume of 1,418,271 shares, compared to its average volume of 1,405,528. The stock has a market cap of $4.97 billion and a PE ratio of 12.27. Millrose Properties, Inc. has a 1 year low of $21.02 and a 1 year high of $36.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.35 and a quick ratio of 0.35. The company has a fifty day moving average price of $30.57 and a 200 day moving average price of $31.74.

Millrose Properties (NYSE:MRP - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $0.74 EPS for the quarter, hitting analysts' consensus estimates of $0.74. The business had revenue of $189.50 million during 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 disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, January 5th were issued a $0.75 dividend. The ex-dividend date of this dividend was Monday, January 5th. This is a positive change from Millrose Properties's previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 10.0%. Millrose Properties's payout ratio is 122.95%.

Wall Street Analyst Weigh In

MRP has been the subject of a number of recent analyst reports. BTIG Research started coverage on Millrose Properties in a research note on Monday, December 1st. They issued a "buy" rating and a $35.00 price objective for the company. Weiss Ratings restated a "hold (c+)" rating on shares of Millrose Properties in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Millrose Properties currently has a consensus rating of "Buy" and a consensus price target of $36.13.

Institutional Trading of Millrose Properties

Several institutional investors have recently modified their holdings of the stock. Corient Private Wealth LLC increased its holdings in shares of Millrose Properties by 38.4% during the 4th quarter. Corient Private Wealth LLC now owns 30,176 shares of the company's stock worth $901,000 after buying an additional 8,368 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in Millrose Properties during the 4th quarter worth about $5,713,000. Alpine Global Management LLC purchased a new stake in shares of Millrose Properties during the fourth quarter worth approximately $1,862,000. Invesco Ltd. raised its holdings in shares of Millrose Properties by 52.0% in the 4th quarter. Invesco Ltd. now owns 792,366 shares of the company's stock valued at $23,668,000 after purchasing an additional 270,913 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Millrose Properties by 6.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 28,176 shares of the company's stock worth $844,000 after buying an additional 1,720 shares during the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.