M&T Bank Corp Takes Position in Millrose Properties, Inc. (NYSE:MRP)

M&T Bank Corp bought a new stake in Millrose Properties, Inc. (NYSE:MRP) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 20,841 shares of the company’s stock, valued at approximately $553,000.

Several other large investors also recently made changes to their positions in MRP. CENTRAL TRUST Co purchased a new stake in shares of Millrose Properties in the first quarter valued at about $27,000. Golden State Wealth Management LLC purchased a new stake in Millrose Properties during the first quarter worth about $37,000. Penserra Capital Management LLC purchased a new stake in Millrose Properties during the first quarter worth about $62,000. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Millrose Properties during the first quarter worth about $66,000. Finally, GAMMA Investing LLC purchased a new stake in Millrose Properties during the first quarter worth about $67,000.

Insider Activity at Millrose Properties

In related news, CTO Adil Pasha bought 2,500 shares of the company’s stock in a transaction dated Wednesday, May 21st. The stock was purchased at an average cost of $28.34 per share, with a total value of $70,850.00. Following the transaction, the chief technology officer owned 2,500 shares in the company, valued at approximately $70,850. This trade 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 Matthew B. Gorson purchased 7,500 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were acquired at an average cost of $28.24 per share, with a total value of $211,800.00. Following the completion of the transaction, the director owned 15,660 shares in the company, valued at $442,238.40. This trade represents a 91.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 18,750 shares of company stock worth $530,800 in the last three months.

Wall Street Analysts Forecast Growth

MRP has been the subject of several recent research reports. Citigroup initiated coverage on shares of Millrose Properties in a research note on Monday, April 14th. They issued a “buy” rating and a $30.00 target price for the company. The Goldman Sachs Group boosted their price objective on shares of Millrose Properties from $28.00 to $31.50 and gave the company a “buy” rating in a research note on Thursday, May 15th.

Millrose Properties Price Performance

MRP stock opened at $30.37 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.07 and a quick ratio of 0.07. Millrose Properties, Inc. has a one year low of $19.00 and a one year high of $30.75. The business has a 50 day moving average of $28.00.

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

Millrose Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Thursday, July 3rd were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 9.09%.

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.