Millrose Properties, Inc. (NYSE:MRP) Raises Dividend to $0.77 Per Share

Millrose Properties, Inc. (NYSE:MRP) declared a quarterly dividend on Tuesday, June 23rd. Shareholders of record on Monday, July 6th will be given a dividend of 0.77 per share on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 10.6%. The ex-dividend date of this dividend is Monday, July 6th. This is a 1.3% increase from Millrose Properties’s previous quarterly dividend of $0.76.

Millrose Properties Price Performance

Shares of MRP opened at $29.05 on Wednesday. The business’s 50-day moving average is $28.78 and its 200-day moving average is $29.64. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 10.41 and a beta of 0.40. Millrose Properties has a fifty-two week low of $26.30 and a fifty-two week high of $36.00.

Millrose Properties (NYSE:MRP) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.03). Millrose Properties had a return on equity of 7.90% and a net margin of 64.96%.The company had revenue of $194.93 million for the quarter. The firm’s revenue was up 135.7% compared to the same quarter last year.

Insider Transactions at Millrose Properties

In other Millrose Properties news, insider Darren Richman purchased 40,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $27.31 per share, for a total transaction of $1,092,400.00. Following the purchase, the insider directly owned 84,000 shares in the company, valued at $2,294,040. This trade represents a 90.91% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Matthew B. Gorson acquired 4,500 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was acquired at an average price of $26.96 per share, with a total value of $121,320.00. Following the completion of the acquisition, the director directly owned 35,750 shares of the company’s stock, valued at $963,820. This represents a 14.40% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 240,532 shares of company stock valued at $6,567,048 over the last ninety days. Company insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On Millrose Properties

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Millrose Properties by 16.3% in the fourth quarter. Vanguard Group Inc. now owns 21,117,152 shares of the company’s stock worth $630,769,000 after acquiring an additional 2,960,066 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Millrose Properties by 24.4% during the 4th quarter. State of Alaska Department of Revenue now owns 180,194 shares of the company’s stock valued at $5,381,000 after purchasing an additional 35,304 shares during the last quarter. Principal Financial Group Inc. raised its stake in Millrose Properties by 7.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,928,856 shares of the company’s stock valued at $57,615,000 after purchasing an additional 138,227 shares during the last quarter. Gabelli Funds LLC boosted its holdings in Millrose Properties by 34.9% in the 3rd quarter. Gabelli Funds LLC now owns 524,366 shares of the company’s stock valued at $17,624,000 after purchasing an additional 135,523 shares during the period. Finally, Manning & Napier Advisors LLC bought a new stake in Millrose Properties in the 4th quarter valued at $2,514,000.

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.