QRG Capital Management Inc. Invests $1.35 Million in Millrose Properties, Inc. (NYSE:MRP)

QRG Capital Management Inc. bought a new position in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 50,839 shares of the company's stock, valued at approximately $1,348,000.

A number of other institutional investors have also modified their holdings of the business. Greenhaven Associates Inc. acquired a new stake in Millrose Properties during the 1st quarter worth $209,111,000. GAMMA Investing LLC acquired a new stake in shares of Millrose Properties during the first quarter worth about $1,784,000. Asset Management Advisors LLC purchased a new position in shares of Millrose Properties during the first quarter worth about $721,000. Rhumbline Advisers acquired a new position in Millrose Properties in the 1st quarter valued at about $7,441,000. Finally, Merit Financial Group LLC acquired a new position in Millrose Properties in the 1st quarter valued at about $552,000.

Millrose Properties Stock Up 1.6%

Shares of NYSE:MRP traded up $0.45 during midday trading on Tuesday, hitting $28.67. The stock had a trading volume of 739,491 shares, compared to its average volume of 2,417,697. Millrose Properties, Inc. has a 1 year low of $19.00 and a 1 year high of $28.99. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.06. The company's 50 day moving average price is $26.71.

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

Millrose Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 9.63%.

Insiders Place Their Bets

In other news, Director Matthew B. Gorson acquired 7,500 shares of Millrose Properties stock in a transaction that occurred on Monday, May 19th. The stock was purchased 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 now owns 15,660 shares in the company, valued at $442,238.40. This trade represents a 91.91% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Patrick J. Bartels, Jr. bought 8,750 shares of the firm's stock in a transaction on Monday, May 19th. The shares were purchased at an average price of $28.36 per share, for a total transaction of $248,150.00. Following the completion of the transaction, the director now owns 14,410 shares of the company's stock, valued at $408,667.60. This represents a 154.59% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 18,750 shares of company stock worth $530,800.

Analyst Ratings Changes

MRP has been the subject of a number of recent research reports. Citigroup assumed coverage on Millrose Properties in a research report on Monday, April 14th. They set a "buy" rating and a $30.00 price objective for the company. 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 report on Thursday, May 15th.

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.