Salem Investment Counselors Inc. Invests $1.95 Million in Millrose Properties, Inc. (NYSE:MRP)

Salem Investment Counselors Inc. bought a new position in Millrose Properties, Inc. (NYSE:MRP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 73,643 shares of the company's stock, valued at approximately $1,952,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC purchased a new position in shares of Millrose Properties in the 1st quarter worth $1,784,000. Merit Financial Group LLC purchased a new position in Millrose Properties in the first quarter worth about $552,000. Rhumbline Advisers bought a new stake in shares of Millrose Properties during the 1st quarter valued at about $7,441,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Millrose Properties during the 1st quarter valued at about $272,000. Finally, Greenhaven Associates Inc. bought a new position in shares of Millrose Properties in the 1st quarter worth approximately $209,111,000.

Analysts Set New Price Targets

MRP has been the subject of a number of research reports. The Goldman Sachs Group upped their target price on shares of Millrose Properties from $28.00 to $31.50 and gave the company a "buy" rating in a report on Thursday, May 15th. Citigroup started coverage on shares of Millrose Properties in a research report on Monday, April 14th. They set a "buy" rating and a $30.00 price objective for the company.

Insider Buying and Selling

In related news, CTO Adil Pasha acquired 2,500 shares of Millrose Properties stock in a transaction dated Wednesday, May 21st. The shares were purchased at an average price of $28.34 per share, for a total transaction of $70,850.00. Following the completion of the transaction, the chief technology officer now directly owns 2,500 shares in the company, valued at approximately $70,850. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew B. Gorson bought 7,500 shares of the stock in a transaction dated Monday, May 19th. The stock was bought at an average cost of $28.24 per share, for a total transaction of $211,800.00. Following the acquisition, the director now directly owns 15,660 shares of the company's stock, valued at approximately $442,238.40. This represents a 91.91% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 18,750 shares of company stock valued at $530,800.

Millrose Properties Stock Up 1.8%

Shares of NYSE MRP traded up $0.49 during trading on Tuesday, hitting $27.82. The company had a trading volume of 1,165,665 shares, compared to its average volume of 731,607. The company has a 50 day simple moving average of $26.31. 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, Inc. has a 12 month low of $19.00 and a 12 month high of $28.99.

Millrose Properties (NYSE:MRP - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported $0.39 EPS for the quarter. The firm had revenue of $82.70 million for 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 paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 9.92%.

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.