Millrose Properties (NYSE:MRP) Director Matthew Gorson Acquires 3,000 Shares of Stock

Key Points

• Director Matthew Gorson purchased 3,000 Millrose Properties shares at an average price of $28.80, investing $86,400 and increasing his stake by 8.39% to 38,750 shares.
• Millrose reported quarterly EPS of $0.76, narrowly beating estimates, on revenue of $196.85 million. The company also raised its quarterly dividend to $0.77 per share, implying a 10.7% annualized yield.
• Shares traded around $28.83, down 0.5%, while analysts maintained an overall “Buy” rating with an average price target of $37.67; major institutional investors also increased their holdings.

Millrose Properties, Inc. (NYSE:MRP - Get Free Report) Director Matthew Gorson acquired 3,000 shares of Millrose Properties stock in a transaction on Monday, August 10th. The shares were purchased at an average price of $28.80 per share, with a total value of $86,400.00. Following the completion of the purchase, the director owned 38,750 shares in the company, valued at $1,116,000. This represents a 8.39% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Millrose Properties Stock Down 0.5%

Millrose Properties stock traded down $0.15 during trading hours on Monday, hitting $28.83. The stock had a trading volume of 913,747 shares, compared to its average volume of 1,467,095. The stock's 50-day moving average price is $28.83 and its 200-day moving average price is $29.30. The stock has a market capitalization of $4.45 billion, a P/E ratio of 10.05 and a beta of 0.39. Millrose Properties, Inc. has a 12-month low of $26.30 and a 12-month high of $36.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.42.

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

Millrose Properties Increases Dividend

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

Hedge Funds Weigh In On Millrose Properties

Several institutional investors and hedge funds have recently bought and sold shares of MRP. Vanguard Group Inc. raised its stake in Millrose Properties by 16.3% during the fourth quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company's stock valued at $630,769,000 after purchasing an additional 2,960,066 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Millrose Properties by 24.4% in the 4th quarter. State of Alaska Department of Revenue now owns 180,194 shares of the company's stock worth $5,381,000 after buying an additional 35,304 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Millrose Properties by 7.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,928,856 shares of the company's stock worth $57,615,000 after buying an additional 138,227 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Millrose Properties during the 4th quarter valued at about $2,514,000. Finally, Thrivent Financial for Lutherans raised its position in shares of Millrose Properties by 34.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 726,605 shares of the company's stock valued at $21,703,000 after buying an additional 187,243 shares in the last quarter.

Analyst Upgrades and Downgrades

MRP has been the subject of several research analyst reports. Wall Street Zen downgraded Millrose Properties from a "buy" rating to a "hold" rating in a report 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 issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Millrose Properties has an average rating of "Buy" and an average price target of $37.67.

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.

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