Oak Thistle LLC Takes $258,000 Position in Millrose Properties, Inc. (NYSE:MRP)

Key Points

• Oak Thistle LLC has invested $258,000 in Millrose Properties, acquiring 9,740 shares in the 1st quarter.
• Millrose Properties recently reported earnings of $0.39 EPS with revenue of $82.70 million for the quarter.
• The company declared a quarterly dividend of $0.69 per share, yielding 8.93% annually.

Oak Thistle LLC bought a new stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,740 shares of the company's stock, valued at approximately $258,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Greenhaven Associates Inc. acquired a new position in Millrose Properties in the 1st quarter valued at $209,111,000. Principal Financial Group Inc. acquired a new position in shares of Millrose Properties in the first quarter valued at about $47,574,000. Bank of New York Mellon Corp acquired a new position in shares of Millrose Properties in the first quarter valued at about $16,753,000. Pacific Heights Asset Management LLC acquired a new position in shares of Millrose Properties in the first quarter valued at about $8,748,000. Finally, Rhumbline Advisers acquired a new position in shares of Millrose Properties in the first quarter valued at about $7,441,000.

Analyst Upgrades and Downgrades

MRP has been the topic of a number of analyst reports. Citigroup initiated coverage on shares of Millrose Properties in a research report on Monday, April 14th. They set a "buy" rating and a $30.00 target price on the stock. The Goldman Sachs Group increased their price target on Millrose Properties from $28.00 to $31.50 and gave the stock a "buy" rating in a research report on Thursday, May 15th.

Millrose Properties Stock Performance

Shares of MRP traded down $0.04 during trading hours on Tuesday, hitting $30.76. 108,626 shares of the company were exchanged, compared to its average volume of 2,153,852. Millrose Properties, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $31.48. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.07 and a current ratio of 0.07. The business's fifty day simple moving average is $28.70.

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

Millrose Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Thursday, July 3rd were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 8.97%.

Insider Buying and Selling

In other Millrose Properties news, Director Matthew B. Gorson bought 7,500 shares of Millrose Properties 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 acquisition, the director owned 15,660 shares in the company, valued at $442,238.40. This trade represents a 91.91% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick J. Bartels, Jr. acquired 8,750 shares of Millrose Properties stock in a transaction that occurred 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 purchase, the director directly owned 14,410 shares of the company's stock, valued at $408,667.60. This represents a 154.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 18,750 shares of company stock worth $530,800.

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.