Millrose Properties, Inc. (NYSE:MRP) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Millrose Properties, Inc. (NYSE:MRP) have received an average recommendation of “Buy” from the five research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $36.1250.

MRP has been the topic of several analyst reports. Citigroup lifted their price target on shares of Millrose Properties from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. BTIG Research started coverage on Millrose Properties in a research note on Monday, December 1st. They set a “buy” rating and a $35.00 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Millrose Properties in a research note on Thursday, January 22nd.

Millrose Properties Trading Down 0.3%

NYSE MRP opened at $31.42 on Friday. Millrose Properties has a 52 week low of $21.02 and a 52 week high of $36.00. The company has a 50 day moving average price of $30.45 and a 200 day moving average price of $31.81. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.34. The firm has a market cap of $5.22 billion and a PE ratio of 18.48.

Millrose Properties Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, January 5th were paid a $0.75 dividend. This is a boost from Millrose Properties’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, January 5th. This represents a $3.00 dividend on an annualized basis and a yield of 9.5%. Millrose Properties’s dividend payout ratio (DPR) is 176.47%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Millrose Properties by 16.3% during the 4th 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. State Street Corp increased its stake in shares of Millrose Properties by 23.0% in the fourth quarter. State Street Corp now owns 5,080,719 shares of the company’s stock worth $151,761,000 after acquiring an additional 950,421 shares during the period. Permian Investment Partners LP raised its holdings in shares of Millrose Properties by 116.4% during the fourth quarter. Permian Investment Partners LP now owns 3,794,312 shares of the company’s stock worth $113,336,000 after purchasing an additional 2,040,900 shares during the last quarter. Norges Bank acquired a new position in Millrose Properties during the fourth quarter valued at $101,800,000. Finally, Wellington Management Group LLP grew its position in Millrose Properties by 44.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,939,771 shares of the company’s stock worth $98,806,000 after purchasing an additional 908,189 shares during the period.

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.