Principal Financial Group Inc. Purchases New Position in Millrose Properties, Inc. (NYSE:MRP)

Principal Financial Group Inc. acquired a new stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,794,553 shares of the company's stock, valued at approximately $47,574,000. Principal Financial Group Inc. owned approximately 1.08% of Millrose Properties at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. CENTRAL TRUST Co acquired a new position in Millrose Properties during the first quarter worth $27,000. Golden State Wealth Management LLC acquired a new stake in shares of Millrose Properties in the 1st quarter valued at about $37,000. GAMMA Investing LLC acquired a new stake in shares of Millrose Properties in the 1st quarter valued at about $67,000. Bessemer Group Inc. acquired a new stake in Millrose Properties during the 1st quarter worth approximately $81,000. Finally, Fifth Third Bancorp purchased a new position in shares of Millrose Properties during the 1st quarter worth approximately $114,000.

Millrose Properties Trading Down 2.9%

Shares of NYSE:MRP opened at $28.03 on Monday. Millrose Properties, Inc. has a one year low of $19.00 and a one year high of $28.99. The firm's fifty day moving average is $27.47. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.07 and a quick ratio of 0.07.

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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 9.85%.

Analyst Ratings Changes

Several research firms recently weighed in on MRP. Citigroup began coverage on Millrose Properties in a research note on Monday, April 14th. They issued a "buy" rating and a $30.00 price objective for the company. The Goldman Sachs Group boosted their price target on Millrose Properties from $28.00 to $31.50 and gave the stock a "buy" rating in a research note on Thursday, May 15th.

Insider Activity at Millrose Properties

In other Millrose Properties news, Director Matthew B. Gorson purchased 7,500 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were acquired at an average cost of $28.24 per share, for a total transaction of $211,800.00. Following the transaction, the director directly owned 15,660 shares in the company, valued at approximately $442,238.40. The trade was a 91.91% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Patrick J. Bartels, Jr. acquired 8,750 shares of Millrose Properties stock in a transaction on Monday, May 19th. The shares were purchased at an average cost of $28.36 per share, for a total transaction of $248,150.00. Following the acquisition, the director owned 14,410 shares in the company, valued at approximately $408,667.60. This represents a 154.59% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 18,750 shares of company stock worth $530,800 over the last three months.

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.

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