Asset Management One Co. Ltd. Invests $4.63 Million in Millrose Properties, Inc. (NYSE:MRP)

Asset Management One Co. Ltd. bought a new position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 174,598 shares of the company's stock, valued at approximately $4,629,000. Asset Management One Co. Ltd. owned 0.11% of Millrose Properties as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CENTRAL TRUST Co acquired a new position in shares of Millrose Properties in the 1st quarter worth $27,000. GAMMA Investing LLC purchased a new stake in shares of Millrose Properties during the first quarter valued at $67,000. Fifth Third Bancorp acquired a new position in shares of Millrose Properties in the 1st quarter valued at $114,000. West Oak Capital LLC purchased a new position in Millrose Properties in the 1st quarter worth about $203,000. Finally, Fishman Jay A Ltd. MI acquired a new stake in Millrose Properties during the 1st quarter worth about $214,000.

Millrose Properties Trading Up 1.0%

Shares of MRP stock traded up $0.28 during mid-day trading on Wednesday, reaching $28.87. The company's stock had a trading volume of 696,086 shares, compared to its average volume of 2,343,882. 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 $28.99. The firm's 50-day moving average is $27.26.

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

Millrose Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Thursday, July 3rd will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 9.56%.

Insider Buying and Selling

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

Analyst Ratings Changes

Several brokerages recently commented on MRP. Citigroup initiated coverage on shares of Millrose Properties in a research report on Monday, April 14th. They issued a "buy" rating and a $30.00 price target for the company. The Goldman Sachs Group boosted their target price on shares of 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 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.