TD Asset Management Inc Acquires New Stake in Millrose Properties, Inc. (NYSE:MRP)

Key Points

• TD Asset Management Inc acquired a new stake in Millrose Properties, purchasing 23,643 shares valued at approximately $627,000 in the first quarter.
• Millrose Properties declared a quarterly dividend of $0.69 per share, which translates to an annualized dividend of $2.76 and a yield of 9.1%.
• Recent analyst ratings reflect confidence in Millrose Properties, with Citigroup initiating coverage with a "buy" rating and a $30.00 target price, and Goldman Sachs raising its target price from $28.00 to $31.50.

TD Asset Management Inc 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 SEC. The firm acquired 23,643 shares of the company's stock, valued at approximately $627,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Greenhaven Associates Inc. bought a new stake in shares of Millrose Properties in the 1st quarter worth $209,111,000. GAMMA Investing LLC bought a new stake in shares of Millrose Properties in the 1st quarter worth $1,784,000. Asset Management Advisors LLC bought a new stake in shares of Millrose Properties in the 1st quarter worth $721,000. Rhumbline Advisers bought a new stake in shares of Millrose Properties in the 1st quarter worth $7,441,000. Finally, Merit Financial Group LLC bought a new stake in shares of Millrose Properties in the 1st quarter worth $552,000.

Insider Buying and Selling at Millrose Properties

In related news, CTO Adil Pasha purchased 2,500 shares of the business'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 acquisition, the chief technology officer owned 2,500 shares of the company's stock, valued at approximately $70,850. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Matthew B. Gorson purchased 7,500 shares of the business's stock in a transaction on Monday, May 19th. The shares were bought 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 $442,238.40. This trade represents a 91.91% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 18,750 shares of company stock valued at $530,800.

Millrose Properties Stock Performance

MRP stock opened at $30.29 on Tuesday. Millrose Properties, Inc. has a 1 year low of $19.00 and a 1 year high of $31.56. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average price of $28.91.

Millrose Properties (NYSE:MRP - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter. The firm had revenue of $149.00 million during the quarter.

Millrose Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 9.1%.

Analyst Upgrades and Downgrades

MRP has been the subject of a number of research analyst reports. Citigroup initiated coverage on Millrose Properties in a report on Monday, April 14th. They issued a "buy" rating and a $30.00 target price for the company. The Goldman Sachs Group raised their price target on Millrose Properties from $28.00 to $31.50 and gave the stock a "buy" rating in a research note on Thursday, May 15th.

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.

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