9,938 Shares in Millrose Properties, Inc. (NYSE:MRP) Acquired by State of Michigan Retirement System

State of Michigan Retirement System purchased a new position in Millrose Properties, Inc. (NYSE:MRP - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,938 shares of the company's stock, valued at approximately $263,000.

Several other large investors have also recently modified their holdings of MRP. CENTRAL TRUST Co bought a new stake in shares of Millrose Properties in the first quarter worth approximately $27,000. Allworth Financial LP purchased a new position in Millrose Properties during the first quarter valued at approximately $33,000. Golden State Wealth Management LLC purchased a new position in Millrose Properties in the 1st quarter worth approximately $37,000. Penserra Capital Management LLC purchased a new position in shares of Millrose Properties in the first quarter worth $62,000. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Millrose Properties in the first quarter worth $66,000.

Millrose Properties Trading Down 0.7%

NYSE MRP traded down $0.21 during trading on Friday, reaching $30.52. 82,242 shares of the company's stock traded hands, compared to its average volume of 2,237,183. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.07 and a current ratio of 0.07. The company has a 50 day simple moving average of $28.20. Millrose Properties, Inc. has a 12-month low of $19.00 and a 12-month high of $31.07.

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

Millrose Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Thursday, July 3rd were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 9.04%.

Insider Activity

In other news, Director Patrick J. Bartels, Jr. purchased 8,750 shares of the stock in a transaction dated 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 owned 14,410 shares of the company's stock, valued at approximately $408,667.60. This represents a 154.59% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, with a total value of $70,850.00. Following the completion of the purchase, the chief technology officer owned 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 ninety days, insiders have bought 18,750 shares of company stock worth $530,800.

Wall Street Analyst Weigh In

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

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.