Millrose Properties (NYSE:MRP) Now Covered by Analysts at Citizens Jmp

Key Points

• Citizens Jmp initiated coverage on Millrose Properties (NYSE:MRP) with an "outperform" rating and a price target of $40.00, suggesting a potential upside of 22.79% from its current price.
• Millrose Properties has been rated as a "Moderate Buy" by analysts, with a consensus target price of $35.38, indicating positive sentiment from four analysts rating it as a Buy and one as a Hold.
• The stock has performed with volatility, having a 1-year low of $19.00 and a high of $36.00, and reported earnings of $0.68 per share with revenues of $149 million last quarter.

Research analysts at Citizens Jmp started coverage on shares of Millrose Properties (NYSE:MRP - Get Free Report) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage set a "mkt outperform" rating and a $40.00 price target on the stock. Citizens Jmp's target price would suggest a potential upside of 22.25% from the stock's current price.

Several other analysts have also commented on MRP. JMP Securities started coverage on shares of Millrose Properties in a research report on Wednesday. They issued a "market outperform" rating and a $40.00 price objective on the stock. Citigroup began coverage on shares of Millrose Properties in a research report on Wednesday. They issued an "outperform" rating on the stock. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Millrose Properties in a research report on Saturday, September 27th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $35.38.

Millrose Properties Stock Up 2.2%

Millrose Properties stock traded up $0.71 during midday trading on Wednesday, hitting $32.72. 234,867 shares of the stock were exchanged, compared to its average volume of 1,856,653. Millrose Properties has a 52-week low of $19.00 and a 52-week high of $36.00. The business's 50-day moving average price is $33.34 and its 200-day moving average price is $29.28. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.17.

Millrose Properties (NYSE:MRP - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.68 earnings per share for the quarter. The firm had revenue of $149.00 million for the quarter.

Hedge Funds Weigh In On Millrose Properties

A number of hedge funds and other institutional investors have recently bought and sold shares of MRP. Vanguard Group Inc. purchased a new position in Millrose Properties in the 1st quarter worth approximately $488,156,000. Brave Warrior Advisors LLC purchased a new stake in shares of Millrose Properties in the 1st quarter valued at $210,988,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Millrose Properties in the 1st quarter valued at $84,773,000. Wellington Management Group LLP purchased a new stake in shares of Millrose Properties in the 1st quarter valued at $75,729,000. Finally, Newtyn Management LLC purchased a new stake in shares of Millrose Properties in the 1st quarter valued at $53,020,000.

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.