Millrose Properties (NYSE:MRP) Reaches New 12-Month High - Should You Buy?

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Shares of Millrose Properties, Inc. (NYSE:MRP - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $31.56 and last traded at $30.93, with a volume of 61445 shares. The stock had previously closed at $30.54.

Analyst Ratings Changes

Several brokerages have recently weighed in on MRP. Citigroup began coverage on shares of Millrose Properties in a report on Monday, April 14th. They set a "buy" rating and a $30.00 price objective on the stock. The Goldman Sachs Group increased 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.

Millrose Properties Trading Up 0.2%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.06 and a current ratio of 0.06. The firm has a fifty day moving average price of $28.87.

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

Millrose Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Thursday, July 3rd were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 9.2%.

Insider Activity at Millrose Properties

In other Millrose Properties news, CTO Adil Pasha purchased 2,500 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were purchased at an average price of $28.34 per share, for a total transaction 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 approximately $70,850. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick J. Bartels, Jr. purchased 8,750 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was acquired at an average price of $28.36 per share, for a total transaction of $248,150.00. Following the acquisition, the director directly owned 14,410 shares of the company's stock, valued at $408,667.60. This trade represents a 154.59% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 18,750 shares of company stock worth $530,800.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MRP. Vanguard Group Inc. purchased a new stake in shares of Millrose Properties during the first quarter valued at approximately $488,156,000. Brave Warrior Advisors LLC purchased a new stake in shares of Millrose Properties during the first quarter valued at approximately $210,988,000. Greenhaven Associates Inc. purchased a new stake in shares of Millrose Properties during the first quarter valued at approximately $209,111,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Millrose Properties during the first quarter valued at approximately $84,773,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Millrose Properties during the first quarter valued at approximately $75,729,000.

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.