Wealth Enhancement Advisory Services LLC Takes Position in Millrose Properties, Inc. (NYSE:MRP)

Wealth Enhancement Advisory Services LLC acquired a new position in Millrose Properties, Inc. (NYSE:MRP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 121,595 shares of the company's stock, valued at approximately $3,223,000. Wealth Enhancement Advisory Services LLC owned about 0.07% of Millrose Properties at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Greenhaven Associates Inc. bought a new position in shares of Millrose Properties in the first quarter worth about $209,111,000. Rhumbline Advisers bought a new position in Millrose Properties during the first quarter valued at $7,441,000. Salem Investment Counselors Inc. purchased a new stake in shares of Millrose Properties in the first quarter valued at $1,952,000. GAMMA Investing LLC purchased a new stake in Millrose Properties in the 1st quarter worth about $1,784,000. Finally, Handelsbanken Fonder AB bought a new stake in shares of Millrose Properties during the 1st quarter worth approximately $1,433,000.

Millrose Properties Stock Performance

Shares of Millrose Properties stock traded up $0.04 during midday trading on Tuesday, hitting $28.55. The company had a trading volume of 1,185,113 shares, compared to its average volume of 931,987. Millrose Properties, Inc. has a 12-month low of $19.00 and a 12-month high of $28.99. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average price of $27.26.

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

Millrose Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 yield of 9.67%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MRP. 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 objective for the company. The Goldman Sachs Group increased their price target on shares of Millrose Properties from $28.00 to $31.50 and gave the company a "buy" rating in a research report on Thursday, May 15th.

Insider Buying and Selling

In related news, CTO Adil Pasha purchased 2,500 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was bought at an average cost 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 $70,850. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Matthew B. Gorson bought 7,500 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was purchased at an average price of $28.24 per share, with a total value of $211,800.00. Following the completion of the purchase, the director owned 15,660 shares in the company, valued at approximately $442,238.40. This trade represents a 91.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 18,750 shares of company stock valued at $530,800 over the last ninety 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.