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In a recent transaction, Carlos A. Migoya, a director at Millrose Properties, Inc. (NASDAQ:MRP), purchased 3,458 shares of the company’s Class A common stock. The shares were acquired at an average price of $22.4469 each, amounting to a total investment of approximately $77,621. The purchase price sits close to the current trading price of $22.39, with InvestingPro data showing the stock trading at 0.75 times book value. Following this transaction, Migoya’s direct ownership in the company increased to 10,106 shares. This purchase reflects Migoya’s continued confidence in the real estate firm, which is headquartered in Chevy Chase, Maryland. With a market capitalization of $3.7 billion and an impressive current ratio of 20.68, InvestingPro analysis reveals 6 additional key insights about the company’s financial position and market performance.
In other recent news, Goldman Sachs has initiated coverage on Millrose Properties with a Buy rating and a 12-month price target of $25. The firm expects a potential total return of approximately 21%, factoring in an anticipated forward twelve-month dividend yield of 10%. Goldman Sachs has projected an average earnings per share and funds from operations growth of 11% annually from 2025 through 2027 for Millrose Properties. This growth prediction is tied to the company’s strategic use of leverage to acquire additional land sites, which is expected to result in more option contracts. Currently, Millrose Properties’ sole customer is Lennar (NYSE:LEN), but the company’s future growth is anticipated to depend on securing more land site acquisitions and option contracts with other homebuilders. Goldman Sachs also noted that Millrose Properties is trading at a discount of about 34% to its book value per share. The firm anticipates this valuation gap to narrow as the company demonstrates the reliability of its cash flow and grows through strategic land acquisitions. These recent developments reflect Goldman Sachs’ confidence in the company’s growth potential and market value recognition.
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