Millrose Properties, Inc. (NYSE:MRP) Plans Dividend Increase – $0.75 Per Share

Millrose Properties, Inc. (NYSE:MRP) announced a quarterly dividend on Monday, December 22nd. Shareholders of record on Monday, January 5th will be given a dividend of 0.75 per share on Thursday, January 15th. This represents a c) dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date is Monday, January 5th. This is a 2.7% increase from Millrose Properties’s previous quarterly dividend of $0.73.

Millrose Properties Stock Down 1.2%

MRP stock opened at $29.08 on Tuesday. The stock has a market capitalization of $4.83 billion and a P/E ratio of 17.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.46 and a quick ratio of 0.46. Millrose Properties has a 1-year low of $19.00 and a 1-year high of $36.00. The business has a fifty day moving average price of $31.34 and a 200-day moving average price of $31.44.

Millrose Properties (NYSE:MRP) last released its quarterly earnings data on Thursday, October 23rd. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company had revenue of $179.26 million during the quarter.

Analyst Ratings Changes

MRP has been the subject of several research reports. BTIG Research started coverage on shares of Millrose Properties in a report on Monday, December 1st. They set a “buy” rating and a $35.00 price objective for the company. Citigroup increased their price target on Millrose Properties from $34.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Citizens Jmp assumed coverage on Millrose Properties in a report on Wednesday, October 8th. They issued a “mkt outperform” rating and a $40.00 price objective for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Millrose Properties in a research report on Wednesday, October 8th. Finally, JMP Securities began coverage on Millrose Properties in a research report on Wednesday, October 8th. They issued a “market outperform” rating and a $40.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Millrose Properties has an average rating of “Buy” and an average target price of $36.90.

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.