Bank of New York Mellon Corp Takes Position in Millrose Properties, Inc. (NYSE:MRP)

Bank of New York Mellon Corp purchased a new stake in Millrose Properties, Inc. (NYSE:MRP) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 631,956 shares of the company’s stock, valued at approximately $16,753,000. Bank of New York Mellon Corp owned approximately 0.38% of Millrose Properties as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MRP. CENTRAL TRUST Co purchased a new position in shares of Millrose Properties in the 1st quarter worth approximately $27,000. Golden State Wealth Management LLC purchased a new position in shares of Millrose Properties in the 1st quarter worth approximately $37,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Millrose Properties in the 1st quarter worth approximately $66,000. GAMMA Investing LLC purchased a new position in shares of Millrose Properties in the 1st quarter worth approximately $67,000. Finally, Bessemer Group Inc. purchased a new position in shares of Millrose Properties in the 1st quarter worth approximately $81,000.

Millrose Properties Stock Performance

Shares of NYSE MRP opened at $30.71 on Friday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.06. Millrose Properties, Inc. has a 12 month low of $19.00 and a 12 month high of $31.07. The company’s 50 day simple moving average is $28.31.

Millrose Properties (NYSE:MRP) 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 8.99%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Millrose Properties from $28.00 to $31.50 and gave the stock a “buy” rating in a research report 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 target price on the stock.

Insider Buying and Selling at Millrose Properties

In other news, Director Patrick J. Bartels, Jr. bought 8,750 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The stock was purchased at an average cost of $28.36 per share, for a total transaction of $248,150.00. Following the purchase, the director directly owned 14,410 shares in the company, valued at approximately $408,667.60. This trade represents a 154.59% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Adil Pasha bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The stock was purchased 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 owned 2,500 shares in the company, valued at approximately $70,850. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 18,750 shares of company stock worth $530,800.

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.