20,472 Shares in Millrose Properties, Inc. $MRP Purchased by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC acquired a new stake in Millrose Properties, Inc., purchasing 20,472 shares valued at approximately $542,000 in the first quarter.
• Analysts at Goldman Sachs raised their target price for Millrose Properties shares from $28.00 to $31.50, maintaining a "buy" rating.
• Millrose Properties announced a quarterly dividend of $0.69, resulting in an annual yield of 7.8% for shareholders.

Hsbc Holdings PLC bought 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 & Exchange Commission. The firm bought 20,472 shares of the company's stock, valued at approximately $542,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP acquired a new position in shares of Millrose Properties during the 1st quarter worth $75,729,000. Korea Investment CORP acquired a new position in Millrose Properties in the 1st quarter valued at about $1,153,000. Northern Trust Corp acquired a new position in Millrose Properties in the 1st quarter valued at about $22,992,000. Versor Investments LP acquired a new position in Millrose Properties in the 1st quarter valued at about $2,221,000. Finally, Summit Securities Group LLC acquired a new position in Millrose Properties in the 1st quarter valued at about $28,000.

Analysts Set New Price Targets

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

Millrose Properties Stock Performance

MRP traded down $0.30 during trading hours on Thursday, hitting $34.25. 1,009,495 shares of the stock were exchanged, compared to its average volume of 1,969,326. The stock has a 50-day simple moving average of $31.26. Millrose Properties, Inc. has a 12 month low of $19.00 and a 12 month high of $36.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.06 and a quick ratio of 0.06.

Millrose Properties (NYSE:MRP - Get Free Report) last posted its 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors 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 8.1%.

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.