Knights of Columbus Asset Advisors LLC Takes $363,000 Position 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 purchased a new stake in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,678 shares of the company's stock, valued at approximately $363,000.

Several other institutional investors have also recently bought and sold shares of the company. CENTRAL TRUST Co bought a new position in Millrose Properties in the 1st quarter worth $27,000. Assetmark Inc. bought a new position in Millrose Properties in the 1st quarter worth $34,000. Allworth Financial LP bought a new position in Millrose Properties in the 1st quarter worth $33,000. Golden State Wealth Management LLC bought a new position in Millrose Properties in the 1st quarter worth $37,000. Finally, Advisors Preferred LLC bought a new position in Millrose Properties in the 1st quarter worth $43,000.

Millrose Properties Stock Performance

NYSE MRP traded up $0.15 during midday trading on Friday, hitting $30.90. The company had a trading volume of 561,127 shares, compared to its average volume of 1,125,003. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.07 and a quick ratio of 0.07. The stock has a fifty day moving average of $28.65. Millrose Properties, Inc. has a fifty-two week low of $19.00 and a fifty-two 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 8.93%.

Insiders Place Their Bets

In related news, Director Patrick J. Bartels, Jr. purchased 8,750 shares of the firm's stock in a transaction on Monday, May 19th. The shares were bought at an average cost of $28.36 per share, for a total transaction of $248,150.00. Following the transaction, the director directly owned 14,410 shares of the company's stock, valued at approximately $408,667.60. This trade represents a 154.59% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Matthew B. Gorson purchased 7,500 shares of the firm's stock in a transaction on Monday, May 19th. The stock was bought at an average price of $28.24 per share, for a total transaction of $211,800.00. Following the completion of the transaction, the director directly owned 15,660 shares in the company, valued at approximately $442,238.40. The trade was a 91.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 18,750 shares of company stock worth $530,800 in the last ninety days.

Wall Street Analysts Forecast Growth

MRP has been the topic of several recent analyst reports. Citigroup initiated coverage on shares of Millrose Properties in a report on Monday, April 14th. They issued a "buy" rating and a $30.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Millrose Properties from $28.00 to $31.50 and gave the stock a "buy" rating in a report on Thursday, May 15th.

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.