Hawk Ridge Capital Management LP Invests $7.61 Million 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 position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 287,060 shares of the company's stock, valued at approximately $7,610,000. Hawk Ridge Capital Management LP owned about 0.17% of Millrose Properties as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. acquired a new stake in Millrose Properties in the first quarter valued at about $488,156,000. Brave Warrior Advisors LLC acquired a new stake in Millrose Properties in the first quarter valued at about $210,988,000. Greenhaven Associates Inc. acquired a new stake in Millrose Properties in the first quarter valued at about $209,111,000. The Manufacturers Life Insurance Company acquired a new stake in Millrose Properties in the first quarter valued at about $84,773,000. Finally, Wellington Management Group LLP acquired a new stake in Millrose Properties in the first quarter valued at about $75,729,000.

Analyst Upgrades and Downgrades

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

Millrose Properties Stock Performance

Shares of Millrose Properties stock traded up $0.11 on Tuesday, hitting $34.39. The company had a trading volume of 386,890 shares, compared to its average volume of 1,947,207. 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. The business has a 50-day simple moving average of $31.60 and a 200-day simple moving average of $27.67.

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

Millrose Properties Dividend Announcement

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

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.