Gotham Asset Management LLC Invests $17.07 Million in Millrose Properties, Inc. $MRP

Key Points

• Gotham Asset Management LLC has acquired a new position in Millrose Properties, purchasing 643,790 shares valued at approximately $17.07 million.
• Analysts from Goldman Sachs have raised their target price for Millrose Properties from $28.00 to $31.50, maintaining a "buy" rating on the stock.
• Millrose Properties recently declared a quarterly dividend of $0.69 per share, resulting in an annualized dividend of $2.76 and a dividend yield of 8.1%.

Gotham Asset Management LLC acquired a new stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 643,790 shares of the company's stock, valued at approximately $17,067,000. Gotham Asset Management LLC owned 0.39% of Millrose Properties at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. CENTRAL TRUST Co purchased a new stake in shares of Millrose Properties in the first quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Millrose Properties in the first quarter valued at about $27,000. Summit Securities Group LLC purchased 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 stake in shares of Millrose Properties in the first quarter valued at about $29,000. Finally, Assetmark Inc. purchased a new stake in shares of Millrose Properties in the first quarter valued at about $34,000.

Analyst Upgrades and Downgrades

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

Millrose Properties Price Performance

NYSE MRP traded up $0.69 during trading hours on Tuesday, reaching $34.97. The company had a trading volume of 1,042,627 shares, compared to its average volume of 1,951,700. The stock has a 50-day moving average of $31.60 and a 200 day moving average of $27.67. Millrose Properties, Inc. has a 1-year low of $19.00 and a 1-year high of $36.00. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.17.

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

Millrose Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders 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 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.