KLP Kapitalforvaltning AS Invests $599,000 in Millrose Properties, Inc. (NYSE:MRP)

Key Points

• KLP Kapitalforvaltning AS has acquired a new stake in Millrose Properties, Inc., purchasing 22,600 shares valued at approximately $599,000 in Q1.
• Millrose Properties announced a quarterly dividend of $0.69 per share, resulting in an annual yield of 8.98%.
• Analysts from Goldman Sachs and Citigroup have issued new price targets for Millrose Properties, raising expectations with target prices of $31.50 and $30.00, respectively.

KLP Kapitalforvaltning AS acquired a new stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 22,600 shares of the company's stock, valued at approximately $599,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Greenhaven Associates Inc. bought a new position in shares of Millrose Properties during the first quarter valued at approximately $209,111,000. GAMMA Investing LLC purchased a new stake in shares of Millrose Properties during the first quarter valued at $1,784,000. Asset Management Advisors LLC purchased a new position in Millrose Properties in the first quarter worth about $721,000. Rhumbline Advisers purchased a new position in shares of Millrose Properties in the 1st quarter worth approximately $7,441,000. Finally, Merit Financial Group LLC purchased a new position in shares of Millrose Properties in the 1st quarter worth approximately $552,000.

Millrose Properties Price Performance

MRP traded down $0.05 during trading hours on Friday, reaching $29.94. 957,525 shares of the company's stock traded hands, compared to its average volume of 2,129,066. The company's 50-day moving average price is $28.83. Millrose Properties, Inc. has a 52-week low of $19.00 and a 52-week high of $31.56. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.06.

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

Millrose Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 9.2%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Citigroup assumed coverage on Millrose Properties in a report on Monday, April 14th. They issued a "buy" rating and a $30.00 target price for the company. The Goldman Sachs Group lifted their target price on Millrose Properties from $28.00 to $31.50 and gave the stock a "buy" rating in a report on Thursday, May 15th.

Insider Buying and Selling at Millrose Properties

In other news, Director Patrick J. Bartels, Jr. bought 8,750 shares of the firm's stock in a transaction on Monday, May 19th. The stock was acquired at an average cost of $28.36 per share, with a total value of $248,150.00. Following the transaction, the director directly owned 14,410 shares in the company, valued at approximately $408,667.60. This trade represents a 154.59% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew B. Gorson bought 7,500 shares of the firm's stock in a transaction on Monday, May 19th. The shares were purchased at an average cost of $28.24 per share, with a total value of $211,800.00. Following the completion of the transaction, the director owned 15,660 shares in the company, valued at $442,238.40. This represents a 91.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 18,750 shares of company stock valued at $530,800 in the last ninety days.

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.