Analysts Set Millrose Properties, Inc. (NYSE:MRP) Target Price at $36.13

Millrose Properties, Inc. (NYSE:MRP) has been assigned a consensus rating of “Buy” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $36.1250.

A number of brokerages have weighed in on MRP. Wall Street Zen raised shares of Millrose Properties from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reissued a “hold (c+)” rating on shares of Millrose Properties in a report on Thursday, January 22nd.

Insiders Place Their Bets

In other Millrose Properties news, Director Matthew B. Gorson purchased 1,000 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was bought at an average cost of $30.66 per share, with a total value of $30,660.00. Following the acquisition, the director owned 25,611 shares of the company’s stock, valued at $785,233.26. The trade was a 4.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Trading of Millrose Properties

Hedge funds have recently bought and sold shares of the company. Salomon & Ludwin LLC purchased a new stake in Millrose Properties during the third quarter valued at about $29,000. Sound Income Strategies LLC purchased a new stake in Millrose Properties during the fourth quarter valued at about $29,000. Smartleaf Asset Management LLC lifted its stake in Millrose Properties by 55.8% during the third quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock valued at $34,000 after buying an additional 357 shares in the last quarter. Root Financial Partners LLC lifted its stake in Millrose Properties by 3,090.6% during the fourth quarter. Root Financial Partners LLC now owns 1,021 shares of the company’s stock valued at $30,000 after buying an additional 989 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Millrose Properties by 95.0% during the third quarter. Farther Finance Advisors LLC now owns 1,123 shares of the company’s stock valued at $38,000 after buying an additional 547 shares in the last quarter.

Millrose Properties Stock Performance

MRP stock opened at $27.90 on Friday. The company has a market capitalization of $4.63 billion, a P/E ratio of 11.43 and a beta of 0.34. The company has a 50-day simple moving average of $29.93 and a 200 day simple moving average of $30.86. Millrose Properties has a fifty-two week low of $21.64 and a fifty-two week high of $36.00. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.36.

Millrose Properties (NYSE:MRP) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. Millrose Properties had a net margin of 67.42% and a return on equity of 6.90%. The company had revenue of $189.50 million during the quarter.

Millrose Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, April 3rd will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 10.9%. The ex-dividend date of this dividend is Thursday, April 2nd. This is a positive change from Millrose Properties’s previous quarterly dividend of $0.75. Millrose Properties’s dividend payout ratio is currently 124.59%.

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.