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

Millrose Properties, Inc. (NYSE:MRP - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $31.09 and last traded at $31.07, with a volume of 174441 shares traded. The stock had previously closed at $30.68.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Millrose Properties from $28.00 to $31.50 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Citigroup assumed 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 on the stock.

Millrose Properties Price Performance

The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.06. The firm's 50-day moving average is $28.31.

Millrose Properties (NYSE:MRP - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported $0.39 earnings per share (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 was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 8.91%.

Insider Activity at Millrose Properties

In related news, CTO Adil Pasha purchased 2,500 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was acquired at an average price of $28.34 per share, with a total value of $70,850.00. Following the completion of the purchase, the chief technology officer directly owned 2,500 shares in the company, valued at $70,850. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew B. Gorson purchased 7,500 shares of the business's stock in a transaction on Monday, May 19th. The shares were acquired at an average price of $28.24 per share, for a total transaction of $211,800.00. Following the completion of the acquisition, the director directly 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. In the last three months, insiders bought 18,750 shares of company stock valued at $530,800.

Hedge Funds Weigh In On Millrose Properties

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CENTRAL TRUST Co purchased a new stake in Millrose Properties during the 1st quarter worth about $27,000. Northwestern Mutual Wealth Management Co. bought a new position in Millrose Properties in the first quarter worth about $27,000. Summit Securities Group LLC bought a new stake in shares of Millrose Properties during the first quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB grew its position in Millrose Properties by 144.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 973 shares of the company's stock worth $28,000 after purchasing an additional 575 shares in the last quarter. Finally, William B. Walkup & Associates Inc. acquired a new stake in shares of Millrose Properties during the 1st quarter valued at $29,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.