Lecap Asset Management Ltd. Takes $1.16 Million Position in Millrose Properties, Inc. (NYSE:MRP)

Lecap Asset Management Ltd. purchased a new stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 43,641 shares of the company's stock, valued at approximately $1,157,000.

Other institutional investors also recently modified their holdings of the company. Yousif Capital Management LLC bought a new stake in shares of Millrose Properties in the first quarter valued at about $1,190,000. State of Alaska Department of Revenue bought a new stake in shares of Millrose Properties in the first quarter valued at about $2,223,000. GAMMA Investing LLC bought a new stake in shares of Millrose Properties in the first quarter valued at about $1,784,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Millrose Properties in the first quarter valued at about $3,223,000. Finally, Rhumbline Advisers bought a new stake in shares of Millrose Properties in the first quarter valued at about $7,441,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. 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 report on Thursday, May 15th. Citigroup started coverage on Millrose Properties in a report on Monday, April 14th. They set a "buy" rating and a $30.00 target price on the stock.

Millrose Properties Stock Performance

MRP traded up $0.42 on Friday, hitting $28.69. 2,242,602 shares of the company were exchanged, compared to its average volume of 884,284. Millrose Properties, Inc. has a 12 month low of $19.00 and a 12 month high of $28.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.07 and a current ratio of 0.07. The company has a fifty day moving average price of $27.07.

Millrose Properties (NYSE:MRP - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported $0.39 earnings per share (EPS) for the quarter. The company had revenue of $82.70 million for the quarter.

Millrose Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 9.62%.

Insiders Place Their Bets

In other Millrose Properties news, Director Matthew B. Gorson purchased 7,500 shares of the stock in a transaction on Monday, May 19th. The shares were purchased at an average price of $28.24 per share, with a total value of $211,800.00. Following the completion of the transaction, the director now directly owns 15,660 shares in the company, valued at $442,238.40. This represents a 91.91% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patrick J. Bartels, Jr. purchased 8,750 shares of the stock in a transaction on Monday, May 19th. The shares were acquired at an average cost of $28.36 per share, for a total transaction of $248,150.00. Following the transaction, the director now owns 14,410 shares of the company's stock, valued at approximately $408,667.60. The trade was a 154.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 18,750 shares of company stock valued at $530,800 over the last 90 days.

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.