Mraz Amerine & Associates Inc. Makes New Investment in Millrose Properties, Inc. (NYSE:MRP)

Mraz Amerine & Associates Inc. bought a new stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 14,641 shares of the company's stock, valued at approximately $388,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Nisa Investment Advisors LLC acquired a new stake in shares of Millrose Properties in the first quarter valued at about $1,230,000. M&T Bank Corp acquired a new stake in shares of Millrose Properties in the first quarter valued at approximately $553,000. Envestnet Asset Management Inc. acquired a new stake in shares of Millrose Properties in the first quarter valued at approximately $2,090,000. Penserra Capital Management LLC acquired a new position in shares of Millrose Properties during the 1st quarter worth approximately $62,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Millrose Properties during the 1st quarter worth approximately $16,753,000.

Millrose Properties Stock Performance

NYSE:MRP traded up $0.81 during mid-day trading on Thursday, hitting $29.77. 831,304 shares of the stock were exchanged, compared to its average volume of 2,297,722. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.06. The stock's 50-day moving average price is $27.66. Millrose Properties, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $29.94.

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

Millrose Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders 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 dividend yield of 9.27%.

Insider Activity

In related news, Director Patrick J. Bartels, Jr. acquired 8,750 shares of the stock in a transaction on Monday, May 19th. The shares were purchased at an average price of $28.36 per share, for a total transaction of $248,150.00. Following the purchase, the director directly owned 14,410 shares in the company, valued at approximately $408,667.60. The trade was a 154.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Adil Pasha acquired 2,500 shares of the company's stock in a transaction on 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 directly owned 2,500 shares in the company, valued at approximately $70,850. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 18,750 shares of company stock worth $530,800.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MRP. Citigroup started coverage on shares of Millrose Properties in a research report on Monday, April 14th. They set a "buy" rating and a $30.00 price objective for the company. The Goldman Sachs Group lifted their target price on shares of Millrose Properties from $28.00 to $31.50 and gave the stock a "buy" rating in a report on Thursday, May 15th.

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.