50,839 Shares in Millrose Properties, Inc. (NYSE:MRP) Bought by QRG Capital Management Inc.

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

A number of other hedge funds have also recently modified their holdings of the business. Greenhaven Associates Inc. bought a new position in shares of Millrose Properties during the first quarter valued at approximately $209,111,000. Rhumbline Advisers bought a new position in Millrose Properties in the first quarter worth approximately $7,441,000. Wealth Enhancement Advisory Services LLC bought a new position in Millrose Properties in the first quarter worth approximately $3,223,000. Salem Investment Counselors Inc. bought a new position in Millrose Properties in the first quarter worth approximately $1,952,000. Finally, GAMMA Investing LLC bought a new position in Millrose Properties in the first quarter worth approximately $1,784,000.

Millrose Properties Stock Up 0.9%

NYSE:MRP traded up $0.25 during midday trading on Friday, hitting $28.46. The stock had a trading volume of 3,383,652 shares, compared to its average volume of 676,389. Millrose Properties, Inc. has a one year low of $19.00 and a one year high of $28.99. The company's 50-day simple moving average is $26.61. 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 (NYSE:MRP - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported $0.39 earnings per share (EPS) for the quarter. The company had revenue of $82.70 million for the quarter.

Millrose Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 9.70%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on Millrose Properties from $28.00 to $31.50 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Citigroup assumed coverage on Millrose Properties in a research note on Monday, April 14th. They issued a "buy" rating and a $30.00 price objective on the stock.

Insider Buying and Selling at Millrose Properties

In other Millrose Properties news, Director Patrick J. Bartels, Jr. acquired 8,750 shares of the stock in a transaction dated Monday, May 19th. The stock was purchased at an average price of $28.36 per share, with a total value of $248,150.00. Following the transaction, the director now directly owns 14,410 shares of the company's stock, valued at $408,667.60. This trade represents a 154.59% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew B. Gorson acquired 7,500 shares of the stock in a transaction dated 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 transaction, the director now directly owns 15,660 shares in the company, valued at approximately $442,238.40. This represents a 91.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 18,750 shares of company stock valued at $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.