Citigroup Inc. Makes New $9.78 Million Investment in Millrose Properties, Inc. $MRP

Key Points

• Citigroup Inc. has acquired a new position in Millrose Properties, purchasing 368,958 shares valued at approximately $9,781,000.
• In addition to Citigroup, multiple other institutional investors, including Swiss National Bank and Charles Schwab Investment Management Inc., have also increased their stakes in Millrose Properties during the first quarter.
• The stock price target for Millrose Properties has been raised by Goldman Sachs from $28.00 to $31.50, while the company also announced a quarterly dividend of $0.69 per share.

Citigroup Inc. bought a new stake 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 Securities and Exchange Commission. The firm bought 368,958 shares of the company's stock, valued at approximately $9,781,000. Citigroup Inc. owned 0.22% of Millrose Properties at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. CENTRAL TRUST Co purchased a new position in shares of Millrose Properties in the 1st quarter valued at $27,000. Assetmark Inc. purchased a new position in shares of Millrose Properties in the 1st quarter valued at $34,000. Allworth Financial LP purchased a new position in shares of Millrose Properties in the 1st quarter valued at $33,000. Golden State Wealth Management LLC purchased a new position in shares of Millrose Properties in the 1st quarter valued at $37,000. Finally, Advisors Preferred LLC purchased a new position in shares of Millrose Properties in the 1st quarter valued at $43,000.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lifted their price target on shares of Millrose Properties from $28.00 to $31.50 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Millrose Properties presently has an average rating of "Buy" and an average price target of $30.75.

Millrose Properties Stock Performance

Millrose Properties stock traded up $0.66 during midday trading on Thursday, hitting $33.35. 746,265 shares of the stock were exchanged, compared to its average volume of 977,820. Millrose Properties, Inc. has a 1 year low of $19.00 and a 1 year high of $33.38. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.06 and a quick ratio of 0.06. The company has a 50 day simple moving average of $30.01.

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

Millrose Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 8.3%.

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.