Bank of New York Mellon Corp Invests $16.75 Million in Millrose Properties, Inc. (NYSE:MRP)

Bank of New York Mellon Corp acquired a new stake in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 631,956 shares of the company's stock, valued at approximately $16,753,000. Bank of New York Mellon Corp owned 0.38% of Millrose Properties at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Generali Investments CEE investicni spolecnost a.s. acquired a new position in Millrose Properties in the first quarter worth approximately $66,000. Pacific Heights Asset Management LLC acquired a new position in Millrose Properties in the 1st quarter worth approximately $8,748,000. Principal Financial Group Inc. acquired a new position in Millrose Properties in the 1st quarter worth approximately $47,574,000. Oregon Public Employees Retirement Fund acquired a new position in Millrose Properties in the 1st quarter worth approximately $729,000. Finally, Teacher Retirement System of Texas acquired a new position in Millrose Properties in the 1st quarter worth approximately $4,131,000.

Insider Buying and Selling at Millrose Properties

In related news, Director Patrick J. Bartels, Jr. acquired 8,750 shares of the stock in a transaction dated Monday, May 19th. The stock was bought 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 approximately $408,667.60. The trade was a 154.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Adil Pasha bought 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was acquired at an average cost of $28.34 per share, with a total value of $70,850.00. Following the transaction, the chief technology officer owned 2,500 shares of the company's stock, valued at $70,850. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 18,750 shares of company stock valued at $530,800.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Citigroup assumed coverage on shares of Millrose Properties in a research note on Monday, April 14th. They set a "buy" rating and a $30.00 target price for the company. The Goldman Sachs Group lifted their price objective 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 Stock Performance

NYSE MRP traded down $0.02 on Friday, reaching $30.71. The company's stock had a trading volume of 1,025,099 shares, compared to its average volume of 1,289,660. The company's 50-day moving average price is $28.31. Millrose Properties, Inc. has a 52 week low of $19.00 and a 52 week high of $31.07. 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 (NYSE:MRP - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported $0.39 earnings per share (EPS) for the quarter. The company had revenue of $82.70 million for the quarter.

Millrose Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 8.99%.

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.