Pacific Heights Asset Management LLC Takes Position in Millrose Properties, Inc. (NYSE:MRP)

Pacific Heights Asset Management LLC acquired a new stake in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 330,000 shares of the company's stock, valued at approximately $8,748,000. Pacific Heights Asset Management LLC owned approximately 0.20% of Millrose Properties at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Greenhaven Associates Inc. purchased a new position in shares of Millrose Properties during the first quarter worth approximately $209,111,000. GAMMA Investing LLC bought a new position in shares of Millrose Properties during the 1st quarter valued at $1,784,000. Asset Management Advisors LLC purchased a new position in Millrose Properties in the 1st quarter worth $721,000. Rhumbline Advisers bought a new stake in Millrose Properties in the first quarter worth $7,441,000. Finally, Merit Financial Group LLC bought a new stake in Millrose Properties in the first quarter worth $552,000.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MRP shares. Citigroup began coverage on Millrose Properties in a research note on Monday, April 14th. They set a "buy" rating and a $30.00 price objective on the stock. The Goldman Sachs Group raised 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.

Insider Buying and Selling

In other Millrose Properties news, CTO Adil Pasha acquired 2,500 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were purchased at an average cost of $28.34 per share, for a total transaction of $70,850.00. Following the transaction, the chief technology officer owned 2,500 shares in the company, valued at $70,850. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick J. Bartels, Jr. bought 8,750 shares of Millrose Properties stock in a transaction dated Monday, May 19th. The shares were 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 approximately $408,667.60. This trade represents a 154.59% increase in their position. 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 ninety days.

Millrose Properties Stock Down 2.9%

Shares of NYSE MRP traded down $0.85 during mid-day trading on Friday, hitting $28.03. The stock had a trading volume of 714,096 shares, compared to its average volume of 981,363. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.06. Millrose Properties, Inc. has a 1 year low of $19.00 and a 1 year high of $28.99. The business's 50 day moving average price is $27.40.

Millrose Properties (NYSE:MRP - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported $0.39 earnings per share (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 will be paid on Tuesday, July 15th. Investors of record on Thursday, July 3rd will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 9.85%.

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.