Howard Capital Management Inc. Buys Shares of 15,302 Millrose Properties, Inc. (NYSE:MRP)

Key Points

• Howard Capital Management Inc. acquired 15,302 shares of Millrose Properties, Inc. in the first quarter, valued at approximately $406,000, amidst increased institutional investment in the company.
• Analysts have raised their price targets for Millrose Properties, with Goldman Sachs increasing its target from $28.00 to $31.50 and Citigroup setting a new target of $30.00.
• Millrose Properties has declared a quarterly dividend of $0.69 per share, reflecting an annualized payout of $2.76 and a dividend yield of 9.2%.

Howard Capital Management Inc. bought a new position in Millrose Properties, Inc. (NYSE:MRP - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 15,302 shares of the company's stock, valued at approximately $406,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CENTRAL TRUST Co bought a new stake in shares of Millrose Properties in the first quarter worth about $27,000. Allworth Financial LP bought a new stake in shares of Millrose Properties in the first quarter worth about $33,000. Assetmark Inc. bought a new stake in shares of Millrose Properties in the first quarter worth about $34,000. Golden State Wealth Management LLC bought a new stake in shares of Millrose Properties in the first quarter worth about $37,000. Finally, Advisors Preferred LLC bought a new stake in shares of Millrose Properties in the first quarter worth about $43,000.

Insider Transactions at Millrose Properties

In other news, Director Matthew B. Gorson acquired 7,500 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was bought at an average cost of $28.24 per share, for a total transaction of $211,800.00. Following the acquisition, 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Patrick J. Bartels, Jr. acquired 8,750 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was purchased at an average price of $28.36 per share, with a total value of $248,150.00. Following the completion of the acquisition, the director owned 14,410 shares in the company, valued at $408,667.60. The trade was a 154.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 18,750 shares of company stock valued at $530,800 in the last ninety days.

Analyst Upgrades and Downgrades

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

Millrose Properties Stock Performance

Shares of MRP traded down $0.05 during mid-day trading on Friday, reaching $29.94. The company had a trading volume of 957,525 shares, compared to its average volume of 1,038,959. The company has a quick ratio of 0.07, a current ratio of 0.06 and a debt-to-equity ratio of 0.17. The stock's 50-day moving average is $28.87. Millrose Properties, Inc. has a 52 week low of $19.00 and a 52 week high of $31.56.

Millrose Properties (NYSE:MRP - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.68 EPS for the quarter. The company had revenue of $149.00 million during the quarter.

Millrose Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Thursday, July 3rd were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 9.2%.

Millrose Properties 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.