Millrose Properties, Inc. Announces Quarterly Dividend of $0.69 (NYSE:MRP)

Millrose Properties, Inc. (NYSE:MRP - Get Free Report) declared a quarterly dividend on Monday, June 16th, RTT News reports. Shareholders of record on Thursday, July 3rd will be paid a dividend of 0.69 per share on Tuesday, July 15th. This represents a $2.76 annualized dividend and a yield of 10.05%.

Millrose Properties Trading Up 0.5%

Shares of MRP stock traded up $0.13 during trading hours on Tuesday, hitting $27.46. The stock had a trading volume of 165,995 shares, compared to its average volume of 2,449,471. Millrose Properties has a twelve month low of $19.00 and a twelve month high of $28.99. The stock has a 50 day moving average price of $26.23.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, Director Matthew B. Gorson acquired 7,500 shares of the business's stock in a transaction dated Monday, May 19th. The stock was acquired at an average price of $28.24 per share, for a total transaction of $211,800.00. Following the completion of the acquisition, the director now directly owns 15,660 shares in the company, valued at $442,238.40. This represents a 91.91% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CTO Adil Pasha bought 2,500 shares of Millrose Properties stock in a transaction dated Wednesday, May 21st. The shares were 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 now owns 2,500 shares of the company's stock, valued at $70,850. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 18,750 shares of company stock valued at $530,800.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRP. NewEdge Advisors LLC acquired a new position in Millrose Properties in the 1st quarter worth about $39,000. Advisors Asset Management Inc. bought a new stake in shares of Millrose Properties in the 1st quarter worth approximately $45,000. United Services Automobile Association bought a new stake in shares of Millrose Properties in the 1st quarter worth approximately $214,000. Empowered Funds LLC acquired a new position in shares of Millrose Properties in the 1st quarter worth approximately $220,000. Finally, Baird Financial Group Inc. acquired a new position in shares of Millrose Properties in the 1st quarter worth approximately $224,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.