Choreo LLC Invests $882,000 in Millrose Properties, Inc. (NYSE:MRP)

Key Points

• Choreo LLC has made a significant investment of $882,000 in Millrose Properties, Inc. by purchasing 33,281 shares during the first quarter.
• Millrose Properties declared a quarterly dividend of $0.69 per share, yielding 8.93%, paid on July 15th to shareholders of record.
• Several analysts have upgraded their target prices on MRP stock, with Goldman Sachs raising it from $28.00 to $31.50, highlighting a strong buy recommendation.

Choreo LLC purchased a new position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 33,281 shares of the company's stock, valued at approximately $882,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MRP. Greenhaven Associates Inc. bought a new stake in shares of Millrose Properties during the first quarter worth about $209,111,000. GAMMA Investing LLC bought a new stake in shares of Millrose Properties during the first quarter worth about $1,784,000. Asset Management Advisors LLC bought a new stake in shares of Millrose Properties during the first quarter worth about $721,000. Rhumbline Advisers bought a new stake in shares of Millrose Properties during the first quarter worth about $7,441,000. Finally, Merit Financial Group LLC bought a new stake in shares of Millrose Properties during the first quarter worth about $552,000.

Millrose Properties Trading Up 0.5%

Shares of MRP stock opened at $30.90 on Friday. The firm has a 50 day moving average of $28.65. Millrose Properties, Inc. has a one year low of $19.00 and a one year high of $31.48. The company has a current ratio of 0.07, a quick 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 EPS for the quarter. The company had revenue of $82.70 million during the quarter.

Millrose Properties Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 8.93%.

Insiders Place Their Bets

In other Millrose Properties news, Director Patrick J. Bartels, Jr. purchased 8,750 shares of the business's stock in a transaction on 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 acquisition, the director owned 14,410 shares of the company's stock, valued at approximately $408,667.60. This represents a 154.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Adil Pasha bought 2,500 shares of the stock in a transaction dated Wednesday, May 21st. The shares were purchased at an average cost of $28.34 per share, for a total transaction of $70,850.00. Following the completion of the transaction, the chief technology officer directly owned 2,500 shares of the company's stock, valued at $70,850. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 18,750 shares of company stock worth $530,800.

Wall Street Analyst Weigh In

Several analysts recently commented on MRP shares. The Goldman Sachs Group upped their target price on Millrose Properties from $28.00 to $31.50 and gave the company a "buy" rating in a report on Thursday, May 15th. Citigroup started coverage on Millrose Properties in a report on Monday, April 14th. They issued a "buy" rating and a $30.00 target price on the stock.

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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