GM Advisory Group LLC Takes $296,000 Position in Millrose Properties, Inc. $MRP

Key Points

• GM Advisory Group LLC has invested $296,000 in Millrose Properties, acquiring 11,150 shares during the first quarter.
• Millrose Properties recently announced a quarterly dividend of $0.69 per share, translating to an annualized dividend yield of 8.5%.
• The investment firm Goldman Sachs increased their price target for Millrose Properties from $28.00 to $31.50 and issued a "buy" rating for the stock.

GM Advisory Group LLC purchased a new position in Millrose Properties, Inc. (NYSE:MRP - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,150 shares of the company's stock, valued at approximately $296,000.

A number of other institutional investors also recently bought and sold shares of MRP. CENTRAL TRUST Co bought a new stake in shares of Millrose Properties during the first quarter worth $27,000. Summit Securities Group LLC purchased a new position in shares of Millrose Properties during the first quarter valued at $28,000. William B. Walkup & Associates Inc. purchased a new position in shares of Millrose Properties during the first quarter valued at $29,000. Allworth Financial LP purchased a new position in shares of Millrose Properties during the first quarter valued at $33,000. Finally, Assetmark Inc. purchased a new position in shares of Millrose Properties during the first quarter valued at $34,000.

Wall Street Analyst Weigh In

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

Millrose Properties Trading Up 0.7%

Shares of Millrose Properties stock traded up $0.25 on Tuesday, reaching $34.97. 243,350 shares of the stock were exchanged, compared to its average volume of 1,991,424. Millrose Properties, Inc. has a twelve month low of $19.00 and a twelve month high of $34.99. The company has a 50 day simple moving average of $30.30. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.17.

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

Millrose Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 7.9%.

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.