Merit Financial Group LLC Acquires Shares of 20,838 Millrose Properties, Inc. (NYSE:MRP)

Merit Financial Group LLC acquired a new stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 20,838 shares of the company's stock, valued at approximately $552,000.

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

Insiders Place Their Bets

In other news, CTO Adil Pasha purchased 2,500 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were acquired at an average price of $28.34 per share, with a total value of $70,850.00. Following the completion of the transaction, the chief technology officer now owns 2,500 shares of the company's stock, valued at $70,850. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick J. Bartels, Jr. purchased 8,750 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was 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 in the company, valued at $408,667.60. This represents a 154.59% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 18,750 shares of company stock valued at $530,800.

Analysts Set New Price Targets

MRP has been the subject of a number of research analyst reports. Citigroup initiated coverage on Millrose Properties in a report on Monday, April 14th. They set a "buy" rating and a $30.00 price target for the company. The Goldman Sachs Group lifted their price target on Millrose Properties from $28.00 to $31.50 and gave the stock a "buy" rating in a report on Thursday, May 15th.

Millrose Properties Stock Down 0.6%

Shares of NYSE:MRP traded down $0.17 during trading on Friday, reaching $27.17. 618,688 shares of the stock were exchanged, compared to its average volume of 2,491,726. Millrose Properties, Inc. has a 12 month low of $19.00 and a 12 month high of $28.99. The company's 50-day moving average is $26.04.

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

Millrose Properties Announces Dividend

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

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.