State of Alaska Department of Revenue Acquires Shares of 83,884 Millrose Properties, Inc. (NYSE:MRP)

State of Alaska Department of Revenue acquired a new stake in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 83,884 shares of the company's stock, valued at approximately $2,223,000. State of Alaska Department of Revenue owned about 0.05% of Millrose Properties as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. CENTRAL TRUST Co bought a new position in Millrose Properties during the 1st quarter worth $27,000. QRG Capital Management Inc. bought a new stake in Millrose Properties in the first quarter valued at $1,348,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Millrose Properties during the first quarter valued at $3,223,000. Salem Investment Counselors Inc. bought a new position in shares of Millrose Properties during the first quarter worth about $1,952,000. Finally, West Oak Capital LLC bought a new position in shares of Millrose Properties during the first quarter worth about $203,000.

Insider Transactions at Millrose Properties

In other Millrose Properties news, Director Patrick J. Bartels, Jr. bought 8,750 shares of the company's stock in a transaction that occurred on Monday, May 19th. The shares were acquired at an average cost of $28.36 per share, for a total transaction of $248,150.00. Following the acquisition, 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 purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Adil Pasha purchased 2,500 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was acquired at an average price of $28.34 per share, for a total transaction of $70,850.00. Following the transaction, the chief technology officer now owns 2,500 shares of the company's stock, valued at $70,850. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 18,750 shares of company stock valued at $530,800.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MRP. Citigroup assumed coverage on shares of Millrose Properties in a research note on Monday, April 14th. They set a "buy" rating and a $30.00 target price for the company. The Goldman Sachs Group lifted their price target on Millrose Properties from $28.00 to $31.50 and gave the company a "buy" rating in a report on Thursday, May 15th.

Millrose Properties Trading Up 1.3%

MRP stock traded up $0.35 during trading on Thursday, reaching $28.27. 719,298 shares of the company's stock were exchanged, compared to its average volume of 844,150. Millrose Properties, Inc. has a 1-year low of $19.00 and a 1-year high of $28.99. The company has a fifty day simple moving average of $26.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.07 and a current ratio of 0.07.

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

Millrose Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Thursday, July 3rd will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 9.76%.

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.