Millrose Properties (NYSE:MRP) Sets New 1-Year High - Here's What Happened

Key Points

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MRP. The Goldman Sachs Group raised their price objective 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. Citigroup began coverage on shares of Millrose Properties in a research report on Monday, April 14th. They set a "buy" rating and a $30.00 price target for the company.

Millrose Properties Stock Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 0.06 and a quick ratio of 0.07. The firm has a 50-day moving average of $28.87.

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

Millrose Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Thursday, July 3rd were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 9.2%.

Insider Activity

In other Millrose Properties news, CTO Adil Pasha bought 2,500 shares of Millrose Properties stock in a transaction that occurred on Wednesday, May 21st. The shares were acquired at an average price of $28.34 per share, for a total transaction of $70,850.00. Following 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Matthew B. Gorson bought 7,500 shares of the business's stock in a transaction dated Monday, May 19th. The stock was bought at an average price of $28.24 per share, for a total transaction of $211,800.00. Following the purchase, the director owned 15,660 shares in the company, valued at approximately $442,238.40. This represents a 91.91% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 18,750 shares of company stock valued at $530,800 in the last ninety days.

Institutional Investors Weigh In On Millrose Properties

A number of institutional investors have recently modified their holdings of MRP. MassMutual Private Wealth & Trust FSB grew its position in shares of Millrose Properties by 144.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 973 shares of the company's stock valued at $28,000 after buying an additional 575 shares during the last quarter. CENTRAL TRUST Co bought a new stake in shares of Millrose Properties during the 1st quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Millrose Properties during the 1st quarter valued at about $27,000. Summit Securities Group LLC bought a new stake in shares of Millrose Properties during the 1st quarter valued at about $28,000. Finally, William B. Walkup & Associates Inc. bought a new stake in shares of Millrose Properties during the 1st quarter valued at about $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.