Teachers Retirement System of The State of Kentucky Invests $796,000 in Millrose Properties, Inc. (NYSE:MRP)

Key Points

• The Teachers Retirement System of The State of Kentucky acquired 30,008 shares of Millrose Properties, Inc. (NYSE:MRP) for approximately $796,000 in the first quarter.
• Millrose Properties recently announced a quarterly dividend of $0.69 per share, equating to an annualized dividend yield of 8.93%.
• Analysts have issued positive ratings on Millrose Properties, with Citigroup rating it a "buy" and a target price set at $30.00 per share.

Teachers Retirement System of The State of Kentucky purchased a new position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 30,008 shares of the company's stock, valued at approximately $796,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. CENTRAL TRUST Co acquired a new position in Millrose Properties during the 1st quarter worth $27,000. Allworth Financial LP acquired a new position in Millrose Properties during the 1st quarter worth $33,000. Golden State Wealth Management LLC acquired a new position in Millrose Properties during the 1st quarter worth $37,000. Penserra Capital Management LLC acquired a new position in Millrose Properties during the 1st quarter worth $62,000. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new position in Millrose Properties during the 1st quarter worth $66,000.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Citigroup assumed coverage on Millrose Properties in a research report on Monday, April 14th. They set a "buy" rating and a $30.00 price target for the company. 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 research note on Thursday, May 15th.

Millrose Properties Stock Performance

NYSE MRP traded down $0.04 on Tuesday, reaching $30.76. 108,626 shares of the stock traded hands, compared to its average volume of 2,153,852. The stock's fifty day moving average price is $28.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.07 and a current ratio of 0.07. Millrose Properties, Inc. has a 12 month low of $19.00 and a 12 month high of $31.48.

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

Millrose Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Thursday, July 3rd were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 8.97%.

Insider Transactions at Millrose Properties

In related news, Director Patrick J. Bartels, Jr. acquired 8,750 shares of Millrose Properties stock in a transaction dated Monday, May 19th. The stock was acquired at an average cost of $28.36 per share, with a total value of $248,150.00. Following the purchase, the director directly owned 14,410 shares in the company, valued at $408,667.60. The trade was a 154.59% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew B. Gorson acquired 7,500 shares of Millrose Properties stock in a transaction dated Monday, May 19th. The shares were bought at an average cost of $28.24 per share, with a total value of $211,800.00. Following the completion of the purchase, the director owned 15,660 shares in the company, valued at approximately $442,238.40. This represents a 91.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 18,750 shares of company stock valued at $530,800 in the last three months.

About Millrose Properties

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.