Victory Capital Management Inc. Makes New $249,000 Investment in Millrose Properties, Inc. (NYSE:MRP)

Key Points

• Victory Capital Management Inc. has acquired a new stake in Millrose Properties, purchasing 9,403 shares valued at approximately $249,000.
• Insider purchases have occurred, with CTO Adil Pasha and Director Matthew B. Gorson increasing their holdings significantly, together acquiring a total of 18,750 shares worth $530,800 in recent months.
• Millrose Properties has announced a quarterly dividend of $0.69 per share, equating to an annual yield of 9.2%.

Victory Capital Management Inc. purchased a new position in Millrose Properties, Inc. (NYSE:MRP - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,403 shares of the company's stock, valued at approximately $249,000.

Several other large investors also recently made changes to their positions in the stock. Greenhaven Associates Inc. acquired a new stake in Millrose Properties during the first quarter worth about $209,111,000. GAMMA Investing LLC bought a new stake in Millrose Properties during the first quarter worth $1,784,000. Asset Management Advisors LLC acquired a new stake in shares of Millrose Properties in the 1st quarter valued at $721,000. Rhumbline Advisers bought a new position in shares of Millrose Properties in the 1st quarter valued at $7,441,000. Finally, Merit Financial Group LLC acquired a new position in shares of Millrose Properties during the 1st quarter worth $552,000.

Wall Street Analyst Weigh In

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

Millrose Properties Price Performance

MRP traded up $0.90 during trading on Tuesday, hitting $31.22. 1,503,356 shares of the company traded hands, compared to its average volume of 1,076,432. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.06 and a current ratio of 0.06. Millrose Properties, Inc. has a one year low of $19.00 and a one year high of $31.56. The firm's fifty day moving average price is $28.91.

Millrose Properties (NYSE:MRP - Get Free Report) last announced 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 company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 8.8%.

Insiders Place Their Bets

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 stock was purchased 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 in the company, valued at $408,667.60. The trade was a 154.59% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Matthew B. Gorson acquired 7,500 shares of the company's stock in a transaction dated 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 purchase, the director owned 15,660 shares of the company's stock, valued at approximately $442,238.40. This trade represents a 91.91% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 18,750 shares of company stock valued at $530,800 over the last 90 days.

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.