Sumitomo Mitsui Trust Group Inc. Makes New Investment in Millrose Properties, Inc. (NYSE:MRP)

Sumitomo Mitsui Trust Group Inc. bought a new position in Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 165,670 shares of the company's stock, valued at approximately $4,392,000. Sumitomo Mitsui Trust Group Inc. owned 0.10% of Millrose Properties at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Greenhaven Associates Inc. bought a new stake in Millrose Properties during the 1st quarter valued at about $209,111,000. GAMMA Investing LLC bought a new stake in Millrose Properties during the 1st quarter valued at about $1,784,000. Asset Management Advisors LLC bought a new stake in Millrose Properties during the 1st quarter valued at about $721,000. Rhumbline Advisers bought a new stake in Millrose Properties during the 1st quarter valued at about $7,441,000. Finally, Merit Financial Group LLC bought a new stake in Millrose Properties during the 1st quarter valued at about $552,000.

Insider Transactions at Millrose Properties

In other Millrose Properties news, Director Patrick J. Bartels, Jr. acquired 8,750 shares of the stock in a transaction dated Monday, May 19th. The shares were purchased at an average price of $28.36 per share, for a total transaction of $248,150.00. Following the purchase, the director directly owned 14,410 shares of the company's stock, valued at approximately $408,667.60. This trade represents a 154.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Adil Pasha acquired 2,500 shares of the stock in a transaction dated 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 purchase, the chief technology officer directly owned 2,500 shares in the company, valued at approximately $70,850. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 18,750 shares of company stock worth $530,800 in the last quarter.

Millrose Properties Stock Performance

Shares of NYSE MRP traded down $0.55 during trading on Tuesday, reaching $27.49. 1,199,708 shares of the company traded hands, compared to its average volume of 978,201. The firm's 50 day moving average price is $27.58. 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 52-week low of $19.00 and a 52-week high of $28.99.

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 company had revenue of $82.70 million for the quarter.

Millrose Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Thursday, July 3rd will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 10.04%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MRP. The Goldman Sachs Group raised their price target 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 began coverage on shares of Millrose Properties in a report on Monday, April 14th. They set a "buy" rating and a $30.00 price target on the stock.

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.