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

Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Millrose Properties, Inc. (NYSE:MRP - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 24,852 shares of the company's stock, valued at approximately $659,000.

Several other institutional investors and hedge funds have also bought and sold shares of MRP. Greenhaven Associates Inc. bought a new stake in shares of Millrose Properties during the first quarter worth about $209,111,000. Rhumbline Advisers bought a new position in shares of Millrose Properties during the first quarter valued at about $7,441,000. Asset Management One Co. Ltd. purchased a new position in Millrose Properties in the first quarter worth $4,629,000. Sumitomo Mitsui Trust Group Inc. bought a new position in Millrose Properties during the first quarter valued at about $4,392,000. Finally, New York State Teachers Retirement System purchased a new stake in shares of Millrose Properties during the 1st quarter worth approximately $3,737,000.

Millrose Properties Stock Performance

MRP remained flat at $28.03 during trading on Monday. The company's stock had a trading volume of 923,603 shares, compared to its average volume of 2,319,749. Millrose Properties, Inc. has a twelve month low of $19.00 and a twelve month high of $28.99. 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 $27.47.

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

Millrose Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 9.85%.

Insider Transactions at Millrose Properties

In other news, Director Matthew B. Gorson acquired 7,500 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were acquired at an average cost of $28.24 per share, with a total value of $211,800.00. Following the acquisition, the director directly owned 15,660 shares of the company's stock, valued at approximately $442,238.40. The trade was a 91.91% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Adil Pasha purchased 2,500 shares of the business's stock in a transaction that occurred on 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 acquisition, the chief technology officer directly owned 2,500 shares in the company, valued at $70,850. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 18,750 shares of company stock valued at $530,800 over the last 90 days.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MRP shares. The Goldman Sachs Group raised their price objective on shares of Millrose Properties from $28.00 to $31.50 and gave the stock a "buy" rating in a report on Thursday, May 15th. Citigroup started coverage on Millrose Properties in a research note on Monday, April 14th. They set a "buy" rating and a $30.00 price target for the company.

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.