Berkshire Asset Management LLC PA Acquires Shares of 21,130 Millrose Properties, Inc. $MRP

Key Points

• Berkshire Asset Management acquired 21,130 shares of Millrose Properties, Inc. (NYSE: MRP) valued at approximately $550,000 in the first quarter.
• Millrose Properties recently announced a quarterly dividend of $0.69, reflecting an annualized dividend yield of 8.5%.
• The Goldman Sachs Group raised their price target for Millrose Properties from $28.00 to $31.50, maintaining a buy rating on the stock.

Berkshire Asset Management LLC PA acquired a new position in Millrose Properties, Inc. (NYSE:MRP - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,130 shares of the company's stock, valued at approximately $550,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Yousif Capital Management LLC purchased a new stake in shares of Millrose Properties in the 1st quarter worth $1,190,000. Bessemer Group Inc. bought a new position in Millrose Properties in the 1st quarter worth $81,000. Blair William & Co. IL bought a new position in Millrose Properties in the 1st quarter worth $351,000. Pacific Heights Asset Management LLC bought a new position in Millrose Properties in the 1st quarter worth $8,748,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Millrose Properties in the 1st quarter worth $659,000.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upped their target price on shares of Millrose Properties from $28.00 to $31.50 and gave the stock a "buy" rating in a report on Thursday, May 15th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $30.75.

Millrose Properties Trading Up 2.9%

Millrose Properties stock traded up $0.96 during mid-day trading on Friday, hitting $34.30. The stock had a trading volume of 997,895 shares, compared to its average volume of 983,845. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.06 and a current ratio of 0.06. The company has a 50 day moving average of $30.15. Millrose Properties, Inc. has a one year low of $19.00 and a one year high of $34.56.

Millrose Properties (NYSE:MRP - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.68 EPS for the quarter. The company had revenue of $149.00 million for the quarter.

Millrose Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 8.0%.

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.