Millrose Properties, Inc. (NYSE:MRP) to Issue $0.69 Quarterly Dividend

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 given a dividend of 0.69 per share on Tuesday, July 15th. This represents a $2.76 annualized dividend and a yield of 9.70%.

Millrose Properties Price Performance

Shares of MRP traded up $0.25 during trading hours on Friday, reaching $28.46. The company's stock had a trading volume of 3,383,652 shares, compared to its average volume of 2,452,894. The firm has a 50 day moving average of $26.51. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.07 and a quick ratio of 0.07. Millrose Properties has a 1-year low of $19.00 and a 1-year 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 firm had revenue of $82.70 million for the quarter.

Wall Street Analyst Weigh In

Several analysts have commented on MRP shares. Citigroup began coverage on shares of Millrose Properties in a research report on Monday, April 14th. They issued a "buy" rating and a $30.00 target price for the company. The Goldman Sachs Group upped their price objective on shares of Millrose Properties from $28.00 to $31.50 and gave the stock a "buy" rating in a report on Thursday, May 15th.

Insider Activity

In related news, CTO Adil Pasha purchased 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were acquired at an average price of $28.34 per share, with a total value of $70,850.00. Following the purchase, the chief technology officer now directly owns 2,500 shares in the company, valued at $70,850. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Matthew B. Gorson acquired 7,500 shares of the company's stock in a transaction on Monday, May 19th. The shares were bought 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 now directly owns 15,660 shares of the company's stock, valued at approximately $442,238.40. This represents a 91.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 18,750 shares of company stock worth $530,800.

Institutional Investors Weigh In On Millrose Properties

Large investors have recently made changes to their positions in the company. NewEdge Advisors LLC acquired a new position in Millrose Properties in the first quarter valued at about $39,000. Advisors Asset Management Inc. acquired a new stake in shares of Millrose Properties during the first quarter worth approximately $45,000. United Services Automobile Association bought a new position in shares of Millrose Properties in the first quarter valued at 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.