Millrose Properties (NYSE:MRP) Reaches New 12-Month High - Here's What Happened

Key Points

• Millrose Properties stock reached a new 52-week high of $32.79 during trading, last closing at $32.75 with a trading volume of 41,782 shares.
• Goldman Sachs upgraded their target price for Millrose Properties from $28.00 to $31.50 and maintained a "buy" rating, with the stock currently having a consensus price target of $30.75.
• Millrose Properties announced a quarterly dividend of $0.69 per share, resulting in an annualized dividend yield of 8.5%.

Shares of Millrose Properties, Inc. (NYSE:MRP - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $32.79 and last traded at $32.75, with a volume of 41782 shares trading hands. The stock had previously closed at $32.55.

Analyst Ratings Changes

Separately, The Goldman Sachs Group increased their price target on Millrose Properties from $28.00 to $31.50 and gave the company a "buy" rating in a research note on Thursday, May 15th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $30.75.

Millrose Properties Stock Up 1.2%

The business has a fifty day moving average of $30.15. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.17.

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

Millrose Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors 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 8.0%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB boosted its position in Millrose Properties by 144.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 973 shares of the company's stock worth $28,000 after purchasing an additional 575 shares during the last quarter. CENTRAL TRUST Co purchased a new position in Millrose Properties in the first quarter worth $27,000. Northwestern Mutual Wealth Management Co. purchased a new position in Millrose Properties in the first quarter worth $27,000. Summit Securities Group LLC purchased a new position in Millrose Properties in the first quarter worth $28,000. Finally, William B. Walkup & Associates Inc. purchased a new position in Millrose Properties in the first quarter worth $29,000.

Millrose Properties Company 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.