Natixis Advisors LLC Makes New $1.05 Million Investment in Millrose Properties, Inc. (NYSE:MRP)

Key Points

• Natixis Advisors LLC acquired a new position in Millrose Properties, purchasing 39,563 shares valued at approximately $1,049,000.
• Directors Patrick J. Bartels, Jr. and Matthew B. Gorson significantly increased their holdings, buying 8,750 and 7,500 shares, respectively, reflecting a 154.59% and 91.91% increase in ownership.
• Millrose Properties announced a quarterly dividend of $0.69 per share, representing a yield of 8.8%.

Natixis Advisors LLC bought a new stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 39,563 shares of the company's stock, valued at approximately $1,049,000.

Other hedge funds have also bought and sold shares of the company. Greenhaven Associates Inc. acquired a new stake in Millrose Properties during the first quarter worth approximately $209,111,000. Principal Financial Group Inc. acquired a new stake in Millrose Properties during the first quarter worth approximately $47,574,000. Bank of New York Mellon Corp acquired a new stake in Millrose Properties during the first quarter worth approximately $16,753,000. Pacific Heights Asset Management LLC acquired a new stake in Millrose Properties during the first quarter worth approximately $8,748,000. Finally, Rhumbline Advisers acquired a new stake in Millrose Properties during the first quarter worth approximately $7,441,000.

Insider Buying and Selling at Millrose Properties

In other news, Director Patrick J. Bartels, Jr. acquired 8,750 shares of the stock in a transaction 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 completion of the transaction, the director directly owned 14,410 shares in the company, valued at approximately $408,667.60. This trade represents a 154.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Matthew B. Gorson acquired 7,500 shares of the 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 transaction, the director owned 15,660 shares of the company's stock, valued at approximately $442,238.40. This represents a 91.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 18,750 shares of company stock worth $530,800 over the last three months.

Wall Street Analysts Forecast Growth

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

Millrose Properties Stock Up 1.8%

Shares of NYSE MRP traded up $0.55 during midday trading on Tuesday, reaching $31.71. The company's stock had a trading volume of 1,157,051 shares, compared to its average volume of 958,991. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.17. Millrose Properties, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $31.79. The stock's 50 day moving average price is $29.35.

Millrose Properties (NYSE:MRP - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.68 earnings per share for the quarter. The business had revenue of $149.00 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 dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 8.7%.

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.