Millrose Properties (NYSE:MRP) Shares Gap Down - Should You Sell?

Shares of Millrose Properties, Inc. (NYSE:MRP - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $28.88, but opened at $27.98. Millrose Properties shares last traded at $28.14, with a volume of 140,632 shares changing hands.

Analyst Upgrades and Downgrades

MRP has been the topic of several analyst reports. Citigroup initiated coverage on shares of Millrose Properties in a research report on Monday, April 14th. They issued a "buy" rating and a $30.00 target price on the stock. The Goldman Sachs Group raised their price objective 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.

Millrose Properties Trading Down 2.9%

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 fifty day simple moving average is $27.40.

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

Millrose Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Thursday, July 3rd will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 9.85%.

Insider Buying and Selling at Millrose Properties

In other news, CTO Adil Pasha acquired 2,500 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was acquired at an average cost 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 in the company, valued at approximately $70,850. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew B. Gorson acquired 7,500 shares of Millrose Properties stock in a transaction that occurred on Monday, May 19th. The shares were purchased at an average cost of $28.24 per share, with a total value of $211,800.00. Following the transaction, the director owned 15,660 shares of the company's stock, valued at approximately $442,238.40. The trade was a 91.91% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 18,750 shares of company stock worth $530,800.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MRP. CENTRAL TRUST Co bought a new stake in shares of Millrose Properties in the 1st quarter valued at approximately $27,000. Northwestern Mutual Wealth Management Co. bought a new position in Millrose Properties during the first quarter valued at approximately $27,000. Summit Securities Group LLC acquired a new stake in Millrose Properties in the first quarter valued at approximately $28,000. William B. Walkup & Associates Inc. bought a new stake in Millrose Properties in the first quarter worth approximately $29,000. Finally, Assetmark Inc. bought a new stake in Millrose Properties in the first quarter worth approximately $34,000.

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.