Millrose Properties (NYSE:MRP) Sets New 52-Week High – Should You Buy?

Millrose Properties, Inc. (NYSE:MRP)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $27.60 and last traded at $27.42, with a volume of 34523 shares traded. The stock had previously closed at $26.64.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Citigroup assumed coverage on Millrose Properties in a report on Monday, April 14th. They set a “buy” rating and a $30.00 target price on the stock. The Goldman Sachs Group upped their price objective on Millrose Properties from $28.00 to $31.50 and gave the company a “buy” rating in a research report on Thursday.

Millrose Properties Stock Performance

The stock has a 50-day moving average of $24.70.

Millrose Properties (NYSE:MRP) last issued its quarterly earnings data 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 announced a — dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, April 4th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, April 4th.

Insider Buying and Selling at Millrose Properties

In other news, insider Garett Rosenblum bought 5,900 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was bought at an average cost of $22.84 per share, for a total transaction of $134,756.00. Following the completion of the acquisition, the insider now directly owns 5,900 shares in the company, valued at $134,756. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Carlos A. Migoya acquired 3,458 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $22.45 per share, with a total value of $77,632.10. Following the completion of the transaction, the director now directly owns 10,106 shares in the company, valued at approximately $226,879.70. This trade represents a 52.02% increase in their position. The disclosure for this purchase can be found here.

Institutional Investors Weigh In On Millrose Properties

Hedge funds have recently modified their holdings of the business. CENTRAL TRUST Co bought a new stake in shares of Millrose Properties in the 1st quarter worth approximately $27,000. Fifth Third Bancorp acquired a new position in shares of Millrose Properties in the first quarter valued at $114,000. Yousif Capital Management LLC acquired a new position in shares of Millrose Properties in the first quarter valued at $1,190,000. GAMMA Investing LLC acquired a new position in shares of Millrose Properties in the first quarter valued at $1,784,000. Finally, Handelsbanken Fonder AB bought a new stake in Millrose Properties in the 1st quarter valued at $1,433,000.

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.