Arizona State Retirement System Makes New Investment in Millrose Properties, Inc. (NYSE:MRP)

Arizona State Retirement System bought a new stake in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 33,662 shares of the company's stock, valued at approximately $892,000.

Several other large investors have also recently made changes to their positions in MRP. Greenhaven Associates Inc. bought a new position in Millrose Properties during the 1st quarter valued at approximately $209,111,000. Principal Financial Group Inc. bought a new position in shares of Millrose Properties during the first quarter valued at $47,574,000. Bank of New York Mellon Corp purchased a new position in shares of Millrose Properties in the 1st quarter worth about $16,753,000. Pacific Heights Asset Management LLC purchased a new position in shares of Millrose Properties in the 1st quarter worth about $8,748,000. Finally, Rhumbline Advisers bought a new position in Millrose Properties in the 1st quarter worth about $7,441,000.

Analysts Set New Price Targets

Several brokerages have issued reports on MRP. Citigroup began coverage on shares of Millrose Properties in a report on Monday, April 14th. They issued a "buy" rating and a $30.00 target price for the company. The Goldman Sachs Group raised their price target on shares of Millrose Properties from $28.00 to $31.50 and gave the company a "buy" rating in a research report on Thursday, May 15th.

Millrose Properties Stock Down 0.1%

Shares of NYSE:MRP opened at $30.71 on Monday. 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 1 year low of $19.00 and a 1 year high of $31.07. The firm's fifty day simple moving average is $28.31.

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

Millrose Properties Announces Dividend

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 8.99%.

Insiders Place Their Bets

In other news, CTO Adil Pasha acquired 2,500 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was bought at an average price of $28.34 per share, with a total value of $70,850.00. Following the completion of the acquisition, the chief technology officer directly owned 2,500 shares of the company's stock, valued at approximately $70,850. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patrick J. Bartels, Jr. acquired 8,750 shares of Millrose Properties stock in a transaction that occurred on Monday, May 19th. The shares were purchased at an average price of $28.36 per share, with a total value of $248,150.00. Following the transaction, the director owned 14,410 shares of the company's stock, valued at $408,667.60. The trade was a 154.59% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 18,750 shares of company stock valued at $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.

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