Resona Asset Management Co. Ltd. Buys New Holdings in Millrose Properties, Inc. $MRP

Key Points

• Resona Asset Management Co. Ltd. has acquired 52,302 shares of Millrose Properties, Inc. worth approximately $1,387,000 in the 1st quarter of 2023.
• Analysts at The Goldman Sachs Group have upgraded Millrose Properties' price target from $28.00 to $31.50 and assigned a "buy" rating to the stock.
• Millrose Properties has announced a quarterly dividend of $0.69, equating to an annualized dividend of $2.76 and a yield of 8.7%.

Resona Asset Management Co. Ltd. acquired a new stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 52,302 shares of the company's stock, valued at approximately $1,387,000.

Several other hedge funds have also recently bought and sold shares of MRP. Vanguard Group Inc. purchased a new position in Millrose Properties in the 1st quarter valued at approximately $488,156,000. Greenhaven Associates Inc. purchased a new position in Millrose Properties in the 1st quarter valued at approximately $209,111,000. Principal Financial Group Inc. purchased a new position in Millrose Properties in the 1st quarter valued at approximately $47,574,000. Charles Schwab Investment Management Inc. purchased a new position in Millrose Properties in the 1st quarter valued at approximately $44,741,000. Finally, Bank of New York Mellon Corp purchased a new position in Millrose Properties in the 1st quarter valued at approximately $16,753,000.

Millrose Properties Price Performance

Shares of MRP stock traded up $0.57 during mid-day trading on Thursday, hitting $33.26. 364,082 shares of the company's stock were exchanged, compared to its average volume of 2,017,365. Millrose Properties, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $33.38. The company has a 50-day simple moving average of $29.89. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.17.

Millrose Properties (NYSE:MRP - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter. The business had revenue of $149.00 million for the quarter.

Millrose Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 8.3%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised their price objective on Millrose Properties from $28.00 to $31.50 and gave the company a "buy" rating in a research note on Thursday, May 15th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Millrose Properties has an average rating of "Buy" and an average target price of $30.75.

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.