Lyell Wealth Management LP Purchases Shares of 40,059 Millrose Properties, Inc. (NYSE:MRP)

Key Points

• Lyell Wealth Management LP acquired a new stake in Millrose Properties, buying 40,059 shares valued at approximately $1,062,000 in the first quarter.
• Wall Street analysts have positive forecasts for Millrose Properties, with Goldman Sachs raising its price target from $28.00 to $31.50 and giving a "buy" rating.
• Millrose Properties recently announced a quarterly dividend of $0.69 per share, resulting in an annualized yield of 9.01%.

Lyell Wealth Management LP acquired a new stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 40,059 shares of the company's stock, valued at approximately $1,062,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Greenhaven Associates Inc. purchased a new position in shares of Millrose Properties in the 1st quarter valued at $209,111,000. Principal Financial Group Inc. acquired a new stake in Millrose Properties during the 1st quarter worth approximately $47,574,000. Bank of New York Mellon Corp acquired a new stake in shares of Millrose Properties during the first quarter worth $16,753,000. Pacific Heights Asset Management LLC purchased a new stake in shares of Millrose Properties in the first quarter valued at about $8,748,000. Finally, Rhumbline Advisers acquired a new position in Millrose Properties during the 1st quarter worth approximately $7,441,000.

Millrose Properties Stock Up 1.5%

Millrose Properties stock traded up $0.46 during trading on Monday, reaching $30.40. 297,920 shares of the company's stock were exchanged, compared to its average volume of 2,114,308. Millrose Properties, Inc. has a 52-week low of $19.00 and a 52-week high of $31.56. The business's 50-day simple moving average is $28.87. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.17.

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 for the quarter. The firm had revenue of $149.00 million during the quarter.

Millrose Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 9.1%.

Insider Buying and Selling at Millrose Properties

In related news, CTO Adil Pasha bought 2,500 shares of the stock in a transaction dated Wednesday, May 21st. The stock was bought at an average cost of $28.34 per share, with a total value of $70,850.00. Following the completion of the acquisition, the chief technology officer owned 2,500 shares of the company's stock, valued at $70,850. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew B. Gorson purchased 7,500 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was bought at an average cost of $28.24 per share, for a total transaction of $211,800.00. Following the acquisition, the director owned 15,660 shares in the company, valued at approximately $442,238.40. The trade was a 91.91% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 18,750 shares of company stock worth $530,800 over the last quarter.

Analyst Ratings Changes

Several analysts recently commented on MRP shares. The Goldman Sachs Group raised their price objective 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. Citigroup started coverage on Millrose Properties in a research report on Monday, April 14th. They set a "buy" rating and a $30.00 price target for the company.

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.