Northern Trust Corp Buys New Shares in Millrose Properties, Inc. $MRP

Key Points

• Northern Trust Corp acquired a new stake in Millrose Properties, purchasing 867,312 shares valued at approximately $22.99 million, representing 0.52% ownership in the company.
• The Goldman Sachs Group raised their price target for Millrose Properties from $28.00 to $31.50 and assigned a "buy" rating, contributing to a current consensus rating of "buy" with a target price of $30.75.
• Millrose Properties announced a quarterly dividend of $0.69 per share, resulting in an annualized yield of 7.8% for investors.

Northern Trust Corp bought a new stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 867,312 shares of the company's stock, valued at approximately $22,992,000. Northern Trust Corp owned about 0.52% of Millrose Properties at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MRP. Vanguard Group Inc. purchased a new position in shares of Millrose Properties during the first quarter worth approximately $488,156,000. Greenhaven Associates Inc. acquired a new position in shares of Millrose Properties during the 1st quarter worth $209,111,000. Principal Financial Group Inc. acquired a new stake in shares of Millrose Properties in the first quarter valued at about $47,574,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Millrose Properties in the 1st quarter worth approximately $44,741,000. Finally, Bank of New York Mellon Corp purchased a new stake in Millrose Properties during the first quarter worth $16,753,000.

Millrose Properties Trading Down 1.0%

MRP stock traded down $0.33 during trading on Thursday, hitting $34.22. The stock had a trading volume of 325,604 shares, compared to its average volume of 1,964,475. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average price of $31.26. Millrose Properties, Inc. has a 1-year low of $19.00 and a 1-year high of $36.00.

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 (EPS) for the quarter. The firm had revenue of $149.00 million for the quarter.

Millrose Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 8.1%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group increased their price objective on shares of Millrose Properties from $28.00 to $31.50 and gave the company a "buy" rating in a research note on Thursday, May 15th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $30.75.

Millrose Properties 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.