28,641 Shares in Millrose Properties, Inc. (NYSE:MRP) Bought by Shufro Rose & Co. LLC

Key Points

• Shufro Rose & Co. LLC purchased 28,641 shares of Millrose Properties, Inc. valued at approximately $759,000, marking a significant new position for the firm during the 1st quarter.
• Millrose Properties recently declared a quarterly dividend of $0.69 per share, translating to a 9.2% dividend yield.
• Wall Street analysts, including Citigroup and Goldman Sachs, issued "buy" ratings on Millrose Properties, with target prices set at $30.00 and $31.50, respectively.

Shufro Rose & Co. LLC bought a new position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 28,641 shares of the company's stock, valued at approximately $759,000.

Other hedge funds have also modified their holdings of the company. Greenhaven Associates Inc. purchased a new position in Millrose Properties in the 1st quarter valued at about $209,111,000. Principal Financial Group Inc. acquired a new stake in shares of Millrose Properties in the first quarter valued at approximately $47,574,000. Bank of New York Mellon Corp acquired a new stake in shares of Millrose Properties in the first quarter valued at approximately $16,753,000. Pacific Heights Asset Management LLC acquired a new stake in shares of Millrose Properties in the first quarter valued at approximately $8,748,000. Finally, Rhumbline Advisers acquired a new stake in shares of Millrose Properties in the first quarter valued at approximately $7,441,000.

Analyst Upgrades and Downgrades

MRP has been the subject of several recent research reports. The Goldman Sachs Group increased 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 assumed coverage on shares of Millrose Properties in a research report on Monday, April 14th. They set a "buy" rating and a $30.00 price target on the stock.

Millrose Properties Stock Down 0.2%

Shares of MRP stock traded down $0.05 during trading on Friday, hitting $29.94. 957,525 shares of the stock traded hands, compared to its average volume of 1,038,959. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.07 and a current ratio of 0.06. The firm's fifty day moving average price 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 posted its earnings results on Thursday, July 31st. The company reported $0.68 earnings per share for the quarter. The company had revenue of $149.00 million during the quarter.

Millrose Properties Dividend Announcement

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

Insider Activity at Millrose Properties

In other Millrose Properties news, CTO Adil Pasha purchased 2,500 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was acquired at an average price of $28.34 per share, for a total transaction of $70,850.00. Following the completion of the purchase, the chief technology officer directly owned 2,500 shares in the company, valued at approximately $70,850. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 acquired at an average price of $28.36 per share, with a total value of $248,150.00. Following the purchase, the director owned 14,410 shares of the company's stock, valued at approximately $408,667.60. This 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 purchased 18,750 shares of company stock worth $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.