Montgomery Investment Management Inc. Makes New $1.58 Million Investment in Millrose Properties, Inc. (NYSE:MRP)

Montgomery Investment Management Inc. acquired a new position in Millrose Properties, Inc. (NYSE:MRP - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 59,546 shares of the company's stock, valued at approximately $1,579,000.

A number of other hedge funds also recently modified their holdings of the company. Greenhaven Associates Inc. acquired a new position in shares of Millrose Properties in the 1st quarter worth approximately $209,111,000. Principal Financial Group Inc. acquired a new position in shares of Millrose Properties in the 1st quarter worth approximately $47,574,000. Bank of New York Mellon Corp acquired a new position in shares of Millrose Properties in the 1st quarter worth approximately $16,753,000. Pacific Heights Asset Management LLC acquired a new position in shares of Millrose Properties in the 1st quarter worth approximately $8,748,000. Finally, Rhumbline Advisers acquired a new position in shares of Millrose Properties in the 1st quarter worth approximately $7,441,000.

Insider Buying and Selling at Millrose Properties

In other news, CTO Adil Pasha acquired 2,500 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were purchased at an average cost of $28.34 per share, for a total transaction of $70,850.00. Following the transaction, the chief technology officer owned 2,500 shares of the company's stock, valued at approximately $70,850. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew B. Gorson acquired 7,500 shares of the firm's stock in a transaction on Monday, May 19th. The stock was purchased at an average price of $28.24 per share, for a total transaction of $211,800.00. Following the completion of the transaction, the director directly 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. In the last ninety days, insiders have bought 18,750 shares of company stock worth $530,800.

Millrose Properties Trading Down 0.4%

MRP stock traded down $0.11 during midday trading on Monday, reaching $30.83. 557,810 shares of the company's stock traded hands, compared to its average volume of 2,171,448. The business has a 50-day moving average of $28.65. Millrose Properties, Inc. has a 1-year low of $19.00 and a 1-year high of $31.48. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.07 and a quick ratio of 0.07.

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

Millrose Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 8.95%.

Analyst Ratings Changes

A number of research firms recently weighed in on MRP. The Goldman Sachs Group raised 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 began 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.

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.