243,750 Shares in Millrose Properties, Inc. $MRP Acquired by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC invested approximately $6.46 million in Millrose Properties, purchasing 243,750 shares during the first quarter, representing a 0.15% ownership stake as per SEC filings.
• Goldman Sachs upgraded Millrose Properties' price target from $28.00 to $31.50, maintaining a "buy" rating, while the stock currently holds an average price target of $30.75.
• Millrose Properties announced a quarterly dividend of $0.69 per share, translating to an annualized yield of 7.8%, which was paid to shareholders on July 15th.

Gabelli Funds LLC purchased a new position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 243,750 shares of the company's stock, valued at approximately $6,462,000. Gabelli Funds LLC owned about 0.15% of Millrose Properties at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. CENTRAL TRUST Co acquired a new stake in shares of Millrose Properties in the first quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Millrose Properties in the first quarter valued at about $27,000. Summit Securities Group LLC acquired a new stake in shares of Millrose Properties in the first quarter valued at about $28,000. William B. Walkup & Associates Inc. purchased a new position in Millrose Properties in the first quarter valued at about $29,000. Finally, Assetmark Inc. purchased a new position in Millrose Properties in the first quarter valued at about $34,000.

Analyst Upgrades and Downgrades

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

Millrose Properties Trading Up 0.9%

NYSE:MRP traded up $0.30 during trading hours on Wednesday, reaching $34.45. 448,503 shares of the stock were exchanged, compared to its average volume of 1,964,280. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.17. The company's 50 day moving average is $31.12. Millrose Properties, Inc. has a 52 week low of $19.00 and a 52 week high of $36.00.

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

Millrose Properties Dividend Announcement

The company also recently announced 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 yield of 8.0%.

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.