Mraz Amerine & Associates Inc. Takes $388,000 Position in Millrose Properties, Inc. (NYSE:MRP)

Mraz Amerine & Associates Inc. acquired a new position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,641 shares of the company's stock, valued at approximately $388,000.

Several other large investors also recently modified their holdings of MRP. Nisa Investment Advisors LLC bought a new position in Millrose Properties during the first quarter worth $1,230,000. M&T Bank Corp bought a new position in Millrose Properties during the first quarter worth $553,000. Envestnet Asset Management Inc. bought a new position in Millrose Properties during the first quarter worth $2,090,000. Penserra Capital Management LLC bought a new position in shares of Millrose Properties in the first quarter valued at $62,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Millrose Properties in the first quarter valued at $16,753,000.

Millrose Properties Stock Up 1.0%

Shares of NYSE MRP traded up $0.30 during mid-day trading on Friday, hitting $29.80. The stock had a trading volume of 90,164 shares, compared to its average volume of 2,283,067. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.06. The business's 50 day moving average price is $27.74. Millrose Properties, Inc. has a 1 year low of $19.00 and a 1 year high of $29.94.

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

Millrose Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 9.26%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MRP shares. Citigroup assumed coverage on shares of Millrose Properties in a research note on Monday, April 14th. They issued a "buy" rating and a $30.00 price objective on the stock. The Goldman Sachs Group increased their target price on shares of Millrose Properties from $28.00 to $31.50 and gave the stock a "buy" rating in a research report on Thursday, May 15th.

Insider Activity

In related news, Director Patrick J. Bartels, Jr. purchased 8,750 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was bought at an average cost of $28.36 per share, for a total transaction of $248,150.00. Following the completion of the transaction, the director directly owned 14,410 shares in the company, valued at $408,667.60. This represents a 154.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Adil Pasha purchased 2,500 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were purchased at an average price of $28.34 per share, for a total transaction of $70,850.00. Following the purchase, the chief technology officer owned 2,500 shares of the company's stock, valued at approximately $70,850. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired 18,750 shares of company stock valued at $530,800 in the last quarter.

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.