In this paper, for any Milnor hypersurface, we find the largest dimension of effective algebraic torus actions on it. The proof of the corresponding theorem is based on the computation of the automorphism group for any Milnor hypersurface. We find all generalized Buchstaber–Ray and Ray hypersurfaces that are toric varieties. We compute the Betti numbers of these hypersurfaces and describe their integral singular cohomology rings in terms of the cohomology of the corresponding ambient varieties.