Sumitomo Mitsui DS Asset Management Company Ltd Buys New Stake in Millrose Properties, Inc. (NYSE:MRP)

Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Millrose Properties, Inc. (NYSE:MRP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 24,852 shares of the company's stock, valued at approximately $659,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Greenhaven Associates Inc. bought a new position in shares of Millrose Properties in the 1st quarter worth approximately $209,111,000. GAMMA Investing LLC bought a new position in shares of Millrose Properties in the 1st quarter worth approximately $1,784,000. Asset Management Advisors LLC bought a new position in shares of Millrose Properties in the 1st quarter worth approximately $721,000. Rhumbline Advisers bought a new position in shares of Millrose Properties in the 1st quarter worth approximately $7,441,000. Finally, Merit Financial Group LLC bought a new position in shares of Millrose Properties in the 1st quarter worth approximately $552,000.

Millrose Properties Price Performance

NYSE MRP traded up $1.52 on Wednesday, reaching $29.03. 2,670,695 shares of the stock were exchanged, compared to its average volume of 1,008,038. Millrose Properties, Inc. has a one year low of $19.00 and a one year high of $29.37. The firm's 50-day moving average price is $27.66. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.06.

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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 9.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. The Goldman Sachs Group raised their target price on shares of 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 shares of Millrose Properties in a research note on Monday, April 14th. They set a "buy" rating and a $30.00 target price on the stock.

Insider Buying and Selling at Millrose Properties

In related news, CTO Adil Pasha acquired 2,500 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was acquired at an average cost of $28.34 per share, with a total value of $70,850.00. Following the acquisition, the chief technology officer directly owned 2,500 shares in the company, valued at $70,850. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Patrick J. Bartels, Jr. bought 8,750 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was purchased at an average price of $28.36 per share, for a total transaction of $248,150.00. Following the completion of the transaction, the director directly owned 14,410 shares of the company's stock, valued at $408,667.60. This represents a 154.59% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 18,750 shares of company stock valued at $530,800 in the last three months.

Millrose Properties Company 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.