43,507 Shares in Millrose Properties, Inc. $MRP Purchased by Korea Investment CORP

Key Points

• Korea Investment CORP made a new investment of approximately $1.15 million in Millrose Properties, acquiring 43,507 shares during the first quarter.
• Millrose Properties is experiencing a strong performance with shares trading up 2.9% and has a current dividend yield of 8.0%, announced a quarterly dividend of $0.69 per share.
• Analysts have a consensus Buy rating on Millrose Properties, with Goldman Sachs raising its price objective to $31.50 from $28.00.

Korea Investment CORP acquired a new position in Millrose Properties, Inc. (NYSE:MRP - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 43,507 shares of the company's stock, valued at approximately $1,153,000.

Other hedge funds have also recently added to or reduced their stakes in the company. CENTRAL TRUST Co acquired a new position in Millrose Properties in the first quarter worth $27,000. Summit Securities Group LLC acquired a new position in Millrose Properties in the first quarter worth $28,000. William B. Walkup & Associates Inc. acquired a new position in Millrose Properties in the first quarter worth $29,000. Allworth Financial LP acquired a new position in Millrose Properties in the first quarter worth $33,000. Finally, Assetmark Inc. acquired a new position in Millrose Properties in the first quarter worth $34,000.

Analyst Upgrades and Downgrades

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

Millrose Properties Stock Performance

MRP stock traded down $0.15 during mid-day trading on Friday, reaching $35.35. The company had a trading volume of 1,414,198 shares, compared to its average volume of 1,022,238. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.06 and a current ratio of 0.06. Millrose Properties, Inc. has a one year low of $19.00 and a one year high of $36.00. The business has a 50-day moving average price of $30.87.

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 Announces Dividend

The business 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 annualized dividend and a yield of 7.8%.

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.