Envestnet Asset Management Inc. Acquires Shares of 78,839 Millrose Properties, Inc. (NYSE:MRP)

Key Points

• Envestnet Asset Management Inc. acquired 78,839 shares of Millrose Properties, Inc. (NYSE:MRP) for approximately $2.09 million, reflecting strong interest from institutional investors.
• Research analysts from Goldman Sachs and Citigroup have boosted their price targets for Millrose Properties, indicating a positive outlook with price objectives set at $31.50 and $30.00 respectively.
• Millrose Properties recently announced a quarterly dividend of $0.69 per share, resulting in an annualized yield of 8.98%.

Envestnet Asset Management Inc. bought a new position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 78,839 shares of the company's stock, valued at approximately $2,090,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CENTRAL TRUST Co acquired a new position in Millrose Properties in the first quarter valued at approximately $27,000. Golden State Wealth Management LLC acquired a new position in Millrose Properties in the first quarter valued at approximately $37,000. Penserra Capital Management LLC acquired a new position in Millrose Properties in the first quarter valued at approximately $62,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Millrose Properties in the first quarter valued at approximately $66,000. Finally, GAMMA Investing LLC acquired a new position in Millrose Properties in the first quarter valued at approximately $67,000.

Millrose Properties Stock Down 0.2%

NYSE MRP traded down $0.05 on Friday, reaching $29.94. The stock had a trading volume of 957,525 shares, compared to its average volume of 2,129,066. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.06. Millrose Properties, Inc. has a 12-month low of $19.00 and a 12-month high of $31.56. The company's fifty day moving average price is $28.83.

Millrose Properties (NYSE:MRP - Get Free Report) last announced its 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 during 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 given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 9.2%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MRP. Citigroup began coverage on Millrose Properties in a report on Monday, April 14th. They issued a "buy" rating and a $30.00 price objective on the stock. The Goldman Sachs Group upped their price objective on Millrose Properties from $28.00 to $31.50 and gave the company a "buy" rating in a report on Thursday, May 15th.

Insider Transactions at Millrose Properties

In related news, CTO Adil Pasha acquired 2,500 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were acquired at an average price of $28.34 per share, with a total value of $70,850.00. Following the completion of the transaction, the chief technology officer owned 2,500 shares of the company's stock, valued at $70,850. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew B. Gorson acquired 7,500 shares of the business's stock in a transaction dated Monday, May 19th. The shares were bought at an average cost of $28.24 per share, for a total transaction of $211,800.00. Following the transaction, the director directly owned 15,660 shares of the company's stock, valued at approximately $442,238.40. This trade represents a 91.91% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 18,750 shares of company stock valued at $530,800.

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.