Millrose Properties, Inc. Announces Quarterly Dividend of $0.69 (NYSE:MRP)

Millrose Properties, Inc. (NYSE:MRP) announced a quarterly dividend on Monday, June 16th, RTT News reports. Stockholders of record on Thursday, July 3rd will be given a dividend of 0.69 per share on Tuesday, July 15th. This represents a $2.76 annualized dividend and a dividend yield of 9.88%.

Millrose Properties Trading Up 2.2%

Shares of NYSE MRP traded up $0.60 during mid-day trading on Tuesday, hitting $27.93. 326,913 shares of the stock were exchanged, compared to its average volume of 2,450,356. The firm’s fifty day moving average price is $26.23. Millrose Properties has a twelve month low of $19.00 and a twelve month high of $28.99.

Millrose Properties (NYSE:MRP) last announced its earnings results 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.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Director Matthew B. Gorson bought 7,500 shares of Millrose Properties stock in a transaction dated Monday, May 19th. The stock was bought at an average cost of $28.24 per share, for a total transaction of $211,800.00. Following the purchase, the director now directly owns 15,660 shares in the company, valued at approximately $442,238.40. This represents a 91.91% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patrick J. Bartels, Jr. purchased 8,750 shares of the business’s stock in a transaction on Monday, May 19th. The shares were bought at an average price of $28.36 per share, with a total value of $248,150.00. Following the purchase, the director now directly owns 14,410 shares in the company, valued at approximately $408,667.60. The trade was a 154.59% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 18,750 shares of company stock valued at $530,800 in the last three months.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC purchased a new stake in Millrose Properties during the first quarter valued at about $39,000. Advisors Asset Management Inc. bought a new position in Millrose Properties in the first quarter worth about $45,000. United Services Automobile Association bought a new position in shares of Millrose Properties during the first quarter valued at approximately $214,000. Empowered Funds LLC bought a new position in shares of Millrose Properties during the first quarter valued at approximately $220,000. Finally, Baird Financial Group Inc. bought a new position in shares of Millrose Properties during the first quarter valued at approximately $224,000.

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.