M&T Bank Corp Takes Position in Millrose Properties, Inc. (NYSE:MRP)

M&T Bank Corp bought a new position in Millrose Properties, Inc. (NYSE:MRP - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,841 shares of the company's stock, valued at approximately $553,000.

Several other hedge funds also recently added to or reduced their stakes in MRP. Greenhaven Associates Inc. purchased a new position in Millrose Properties in the first quarter valued at about $209,111,000. GAMMA Investing LLC purchased a new position in Millrose Properties in the first quarter valued at about $1,784,000. Asset Management Advisors LLC purchased a new position in Millrose Properties in the first quarter valued at about $721,000. Rhumbline Advisers purchased a new position in Millrose Properties in the first quarter valued at about $7,441,000. Finally, Merit Financial Group LLC acquired a new stake in shares of Millrose Properties during the first quarter valued at about $552,000.

Analysts Set New Price Targets

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

Millrose Properties Stock Down 0.1%

NYSE:MRP traded down $0.02 during mid-day trading on Thursday, reaching $30.74. The stock had a trading volume of 315,338 shares, compared to its average volume of 2,250,566. Millrose Properties, Inc. has a 1-year low of $19.00 and a 1-year high of $31.07. The business has a 50 day simple moving average of $28.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.07 and a current ratio of 0.07.

Millrose Properties (NYSE:MRP - Get Free Report) last posted its quarterly earnings results 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 8.98%.

Insiders Place Their Bets

In other Millrose Properties news, Director Matthew B. Gorson bought 7,500 shares of the business's stock in a transaction on Monday, May 19th. The shares were purchased at an average price of $28.24 per share, with a total value of $211,800.00. Following the completion of the acquisition, the director directly owned 15,660 shares of the company's stock, valued at approximately $442,238.40. The trade was a 91.91% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Adil Pasha bought 2,500 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was acquired at an average cost of $28.34 per share, for a total transaction of $70,850.00. Following the acquisition, the chief technology officer directly owned 2,500 shares of the company's stock, valued at $70,850. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 18,750 shares of company stock valued at $530,800 over 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.