Merit Financial Group LLC Invests $552,000 in Millrose Properties, Inc. (NYSE:MRP)

Merit Financial Group LLC purchased a new position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 20,838 shares of the company's stock, valued at approximately $552,000.

Several other large investors also recently modified their holdings of the stock. Asset Management Advisors LLC bought a new position in Millrose Properties during the first quarter worth $721,000. GAMMA Investing LLC bought a new position in shares of Millrose Properties during the 1st quarter worth about $1,784,000. Rhumbline Advisers bought a new position in shares of Millrose Properties during the 1st quarter worth about $7,441,000. Finally, Greenhaven Associates Inc. bought a new stake in shares of Millrose Properties during the first quarter valued at approximately $209,111,000.

Insider Buying and Selling

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

Millrose Properties Stock Up 0.7%

NYSE:MRP traded up $0.20 on Tuesday, reaching $27.96. 606,680 shares of the company's stock were exchanged, compared to its average volume of 2,557,951. The company has a fifty day moving average of $25.85. Millrose Properties, Inc. has a 52 week low of $19.00 and a 52 week high of $28.99.

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

Millrose Properties Dividend Announcement

The firm also recently disclosed a -- dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, April 4th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, April 4th.

Analyst Upgrades and Downgrades

MRP has been the topic of a number of recent research reports. The Goldman Sachs Group increased 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. Citigroup started coverage on Millrose Properties in a report on Monday, April 14th. They set a "buy" rating and a $30.00 price target on the stock.

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.