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

Millrose Properties, Inc. (NYSE:MRP - Get Free Report) shares hit a new 52-week high on Monday . The stock traded as high as $29.50 and last traded at $29.50, with a volume of 277 shares trading hands. The stock had previously closed at $28.43.

Analyst Ratings Changes

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

Millrose Properties Price Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.07 and a quick ratio of 0.07. The company's 50-day moving average is $26.61.

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

Millrose Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 9.78%.

Insider Transactions at Millrose Properties

In related news, Director Matthew B. Gorson bought 7,500 shares of the stock in a transaction dated Monday, May 19th. The stock was bought at an average cost of $28.24 per share, with a total value of $211,800.00. Following the completion of the acquisition, the director now owns 15,660 shares of the company's stock, valued at $442,238.40. This trade represents a 91.91% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patrick J. Bartels, Jr. acquired 8,750 shares of Millrose Properties stock in a transaction that occurred on Monday, May 19th. The shares were bought at an average price of $28.36 per share, with a total value of $248,150.00. Following the transaction, the director now directly owns 14,410 shares in the company, valued at approximately $408,667.60. This trade represents a 154.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 18,750 shares of company stock worth $530,800.

Institutional Investors Weigh In On Millrose Properties

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. bought a new position in Millrose Properties in the 1st quarter valued at about $488,156,000. Brave Warrior Advisors LLC bought a new position in Millrose Properties during the 1st quarter valued at $210,988,000. Greenhaven Associates Inc. acquired a new position in shares of Millrose Properties during the 1st quarter valued at $209,111,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Millrose Properties in the first quarter valued at $84,773,000. Finally, Wellington Management Group LLP bought a new position in Millrose Properties during the first quarter valued at about $75,729,000.

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.