Hawk Ridge Capital Management LP Makes New Investment in Millrose Properties, Inc. $MRP

Key Points

• Hawk Ridge Capital Management LP acquired a new stake in Millrose Properties, purchasing 287,060 shares valued at approximately $7.61 million.
• Goldman Sachs raised their price target on Millrose Properties from $28.00 to $31.50 and assigned a "buy" rating, contributing to an overall average "buy" rating for the stock.
• The company announced a quarterly dividend of $0.69, which translates to an annualized dividend yield of 8.0%.

Hawk Ridge Capital Management LP purchased a new stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 287,060 shares of the company's stock, valued at approximately $7,610,000. Hawk Ridge Capital Management LP owned 0.17% of Millrose Properties as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MRP. Greenhaven Associates Inc. acquired a new position in Millrose Properties in the first quarter valued at approximately $209,111,000. GAMMA Investing LLC acquired a new position in Millrose Properties in the first quarter valued at approximately $1,784,000. Asset Management Advisors LLC acquired a new position in Millrose Properties in the first quarter valued at approximately $721,000. Rhumbline Advisers acquired a new position in Millrose Properties in the first quarter valued at approximately $7,441,000. Finally, Merit Financial Group LLC acquired a new position in Millrose Properties in the first quarter valued at approximately $552,000.

Millrose Properties Price Performance

Millrose Properties stock traded up $0.09 during trading on Monday, hitting $34.30. 1,395,191 shares of the company were exchanged, compared to its average volume of 1,957,923. The business's 50 day moving average is $31.49 and its 200 day moving average is $27.62. Millrose Properties, Inc. has a 52 week low of $19.00 and a 52 week 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 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 for the quarter.

Millrose Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Thursday, July 3rd were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 8.0%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group boosted 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, the stock has a consensus rating of "Buy" and a consensus target price of $30.75.

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.