1,794,553 Shares in Millrose Properties, Inc. (NYSE:MRP) Bought by Principal Financial Group Inc.

Principal Financial Group Inc. bought a new position in Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,794,553 shares of the company's stock, valued at approximately $47,574,000. Principal Financial Group Inc. owned 1.08% of Millrose Properties at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CENTRAL TRUST Co bought a new position in Millrose Properties in the 1st quarter worth about $27,000. Golden State Wealth Management LLC bought a new position in Millrose Properties in the 1st quarter worth about $37,000. GAMMA Investing LLC bought a new position in Millrose Properties in the 1st quarter worth about $67,000. Bessemer Group Inc. bought a new position in Millrose Properties in the 1st quarter worth about $81,000. Finally, Fifth Third Bancorp bought a new position in Millrose Properties in the 1st quarter worth about $114,000.

Insider Buying and Selling

In other Millrose Properties news, CTO Adil Pasha bought 2,500 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was purchased at an average cost of $28.34 per share, with a total value of $70,850.00. Following the completion of the acquisition, the chief technology officer owned 2,500 shares in the company, valued at $70,850. This trade represents a ∞ 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 Matthew B. Gorson bought 7,500 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was acquired at an average cost of $28.24 per share, with a total value of $211,800.00. Following the completion of the acquisition, the director owned 15,660 shares of the company's stock, valued at $442,238.40. This represents a 91.91% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 18,750 shares of company stock valued at $530,800.

Millrose Properties Trading Up 1.8%

Millrose Properties stock traded up $0.53 during midday trading on Thursday, hitting $29.49. The stock had a trading volume of 1,435,422 shares, compared to its average volume of 2,304,302. The stock has a fifty day moving average of $27.66. Millrose Properties, Inc. has a 52-week low of $19.00 and a 52-week high of $29.94. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.06.

Millrose Properties (NYSE:MRP - Get Free Report) last released its 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Thursday, July 3rd will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 9.36%.

Analyst Upgrades and Downgrades

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

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.