Knights of Columbus Asset Advisors LLC Invests $363,000 in Millrose Properties, Inc. (NYSE:MRP)

Key Points

• Knights of Columbus Asset Advisors LLC purchased 13,678 shares of Millrose Properties, Inc. (NYSE:MRP) valued at approximately $363,000 during the first quarter.
• Brokerage firms have shown positive sentiment, with Goldman Sachs raising its target price for MRP shares from $28.00 to $31.50 and assigning a "buy" rating.
• The company has declared a quarterly dividend of $0.69 per share, representing a dividend yield of 8.93%.

Knights of Columbus Asset Advisors LLC acquired a new position in Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 13,678 shares of the company's stock, valued at approximately $363,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Yousif Capital Management LLC purchased a new position in Millrose Properties in the first quarter valued at about $1,190,000. Bessemer Group Inc. acquired a new stake in shares of Millrose Properties in the first quarter worth about $81,000. Pacific Heights Asset Management LLC acquired a new position in shares of Millrose Properties during the 1st quarter worth about $8,748,000. Golden State Wealth Management LLC acquired a new position in shares of Millrose Properties during the 1st quarter worth about $37,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in shares of Millrose Properties during the 1st quarter worth about $659,000.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MRP shares. The Goldman Sachs Group upped their price target on Millrose Properties from $28.00 to $31.50 and gave the company a "buy" rating in a report on Thursday, May 15th. Citigroup started coverage on Millrose Properties in a research note on Monday, April 14th. They issued a "buy" rating and a $30.00 price objective on the stock.

Millrose Properties Stock Up 0.3%

MRP traded up $0.09 during mid-day trading on Wednesday, reaching $30.84. The stock had a trading volume of 112,140 shares, compared to its average volume of 2,143,112. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.07 and a current ratio of 0.07. The stock has a fifty day moving average price of $28.74. Millrose Properties, Inc. has a 52 week low of $19.00 and a 52 week high of $31.48.

Millrose Properties (NYSE:MRP - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported $0.39 earnings per share (EPS) for the quarter. The company had revenue of $82.70 million during the quarter.

Millrose Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Thursday, July 3rd were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 8.95%.

Insider Buying and Selling

In other Millrose Properties news, CTO Adil Pasha acquired 2,500 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were acquired at an average price of $28.34 per share, with a total value of $70,850.00. Following the purchase, the chief technology officer owned 2,500 shares of the company's stock, valued at $70,850. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick J. Bartels, Jr. purchased 8,750 shares of the company's stock in a transaction on Monday, May 19th. The stock was purchased at an average cost of $28.36 per share, for a total transaction of $248,150.00. Following the purchase, the director directly owned 14,410 shares in the company, valued at approximately $408,667.60. This trade represents a 154.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 18,750 shares of company stock valued at $530,800.

Millrose Properties Company Profile

Millrose Properties, Inc is a real estate investment and management company that focuses on acquiring, developing, and managing high-quality commercial properties. They are headquartered in Purchase, New York.