American Assets Investment Management LLC Takes Position in Millrose Properties, Inc. (NYSE:MRP)

Key Points

• American Assets Investment Management LLC acquired 43,663 shares of Millrose Properties, Inc. (NYSE:MRP), valued at approximately $1,158,000, during the first quarter.
• Directors Matthew B. Gorson and Patrick J. Bartels, Jr. significantly increased their stakes in the company by purchasing 7,500 and 8,750 shares, respectively, in May.
• Millrose Properties announced a quarterly dividend of $0.69 per share, resulting in an annualized yield of 9.1%.

American Assets Investment Management LLC acquired a new stake in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 43,663 shares of the company's stock, valued at approximately $1,158,000.

A number of other large investors have also recently made changes to their positions in the stock. CENTRAL TRUST Co purchased a new stake in shares of Millrose Properties during the first quarter valued at $27,000. Assetmark Inc. purchased a new stake in Millrose Properties in the first quarter valued at $34,000. Allworth Financial LP purchased a new stake in Millrose Properties in the first quarter valued at $33,000. Golden State Wealth Management LLC purchased a new stake in Millrose Properties in the first quarter valued at $37,000. Finally, Advisors Preferred LLC purchased a new stake in Millrose Properties in the first quarter valued at $43,000.

Insider Transactions at Millrose Properties

In other news, Director Matthew B. Gorson bought 7,500 shares of the stock in a transaction dated Monday, May 19th. The shares were acquired at an average cost of $28.24 per share, with a total value of $211,800.00. Following the purchase, the director directly owned 15,660 shares in the company, valued at $442,238.40. The trade was a 91.91% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Patrick J. Bartels, Jr. bought 8,750 shares of the stock in a transaction dated Monday, May 19th. The shares were purchased at an average cost of $28.36 per share, for a total transaction of $248,150.00. Following the completion of the purchase, the director owned 14,410 shares in the company, 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. Insiders have bought a total of 18,750 shares of company stock valued at $530,800 in the last ninety days.

Millrose Properties Price Performance

MRP stock opened at $30.29 on Tuesday. The stock's 50-day moving average price is $28.91. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.06 and a current ratio of 0.06. 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 (EPS) for the quarter. The firm had revenue of $149.00 million for the quarter.

Millrose Properties Announces Dividend

The company also recently announced 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 9.1%.

Wall Street Analyst Weigh In

MRP has been the topic of several recent research reports. Citigroup initiated coverage on shares of Millrose Properties in a report on Monday, April 14th. They issued a "buy" rating and a $30.00 price target on the stock. The Goldman Sachs Group upped their price target on shares of Millrose Properties from $28.00 to $31.50 and gave the company a "buy" rating in a report on Thursday, May 15th.

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.

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