Allworth Financial LP Invests $33,000 in Millrose Properties, Inc. (NYSE:MRP)

Allworth Financial LP purchased a new stake in shares of Millrose Properties, Inc. (NYSE:MRP) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,320 shares of the company’s stock, valued at approximately $33,000.

Other institutional investors and hedge funds have also modified their holdings of the company. CENTRAL TRUST Co acquired a new stake in shares of Millrose Properties in the first quarter worth about $27,000. Golden State Wealth Management LLC bought a new position in shares of Millrose Properties in the 1st quarter valued at approximately $37,000. Penserra Capital Management LLC bought a new position in shares of Millrose Properties in the 1st quarter valued at approximately $62,000. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Millrose Properties in the 1st quarter worth approximately $66,000. Finally, GAMMA Investing LLC acquired a new stake in Millrose Properties in the 1st quarter worth approximately $67,000.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MRP. The Goldman Sachs Group increased their price target on Millrose Properties from $28.00 to $31.50 and gave the company a “buy” rating in a report on Thursday, May 15th. Citigroup assumed coverage on shares of Millrose Properties in a report on Monday, April 14th. They set a “buy” rating and a $30.00 price objective for the company.

Insider Buying and Selling at Millrose Properties

In other news, CTO Adil Pasha acquired 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The shares were bought at an average price of $28.34 per share, with a total value of $70,850.00. Following the acquisition, the chief technology officer owned 2,500 shares of the company’s stock, valued at $70,850. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew B. Gorson bought 7,500 shares of Millrose Properties stock in a transaction that occurred on Monday, May 19th. The stock was purchased 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 of the company’s stock, 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 a total of 18,750 shares of company stock valued at $530,800 in the last quarter.

Millrose Properties Stock Down 0.1%

Shares of NYSE:MRP opened at $30.71 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.07 and a current ratio of 0.07. The company has a 50-day simple moving average of $28.31. Millrose Properties, Inc. has a 52-week low of $19.00 and a 52-week high of $31.07.

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

Millrose Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 8.99%.

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.