Choreo LLC Makes New Investment 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 stake in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,281 shares of the company's stock, valued at approximately $882,000.

Several other large investors have also made changes to their positions in the company. Yousif Capital Management LLC acquired a new stake in Millrose Properties in the first quarter worth $1,190,000. Bessemer Group Inc. bought a new stake in shares of Millrose Properties in the first quarter worth about $81,000. Pacific Heights Asset Management LLC bought a new stake in shares of Millrose Properties in the first quarter worth about $8,748,000. Golden State Wealth Management LLC bought a new stake in shares of Millrose Properties in the first quarter worth about $37,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in shares of Millrose Properties in the 1st quarter valued at approximately $659,000.

Insiders Place Their Bets

In related news, CTO Adil Pasha purchased 2,500 shares of the stock in a transaction on Wednesday, May 21st. The shares were purchased at an average price of $28.34 per share, with a total value of $70,850.00. Following 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Patrick J. Bartels, Jr. purchased 8,750 shares of the stock in a transaction on Monday, May 19th. The shares were bought at an average cost of $28.36 per share, for a total transaction of $248,150.00. Following the transaction, the director directly owned 14,410 shares in the company, valued at approximately $408,667.60. The trade was a 154.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 18,750 shares of company stock valued at $530,800 in the last 90 days.

Millrose Properties Trading Down 0.4%

NYSE MRP traded down $0.13 during trading on Wednesday, hitting $30.62. The stock had a trading volume of 854,793 shares, compared to its average volume of 1,049,743. The company has a 50-day moving average price of $28.79. 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 12 month low of $19.00 and a 12 month high of $31.48.

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

Millrose Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 9.01%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup assumed coverage on Millrose Properties in a research report on Monday, April 14th. They issued a "buy" rating and a $30.00 price objective for the company. The Goldman Sachs Group boosted their price objective on 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 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.