Mount Lucas Management LP Invests $69,000 in Millrose Properties, Inc. (NYSE:MRP)

Mount Lucas Management LP acquired a new position in Millrose Properties, Inc. (NYSE:MRP) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,611 shares of the company’s stock, valued at approximately $69,000.

Other institutional investors have also recently bought and sold shares of the company. Advisors Preferred LLC bought a new position in shares of Millrose Properties during the 1st quarter worth approximately $43,000. Oak Thistle LLC acquired a new position in shares of Millrose Properties in the 1st quarter valued at $258,000. KLP Kapitalforvaltning AS bought a new position in Millrose Properties during the first quarter worth about $599,000. Choreo LLC acquired a new position in Millrose Properties during the first quarter valued at approximately $882,000. Finally, Paradigm Asset Management Co. LLC acquired a new position in shares of Millrose Properties in the 1st quarter valued at $172,000.

Millrose Properties Stock Down 0.3%

Shares of NYSE:MRP opened at $31.13 on Thursday. The firm’s 50 day moving average is $28.56. Millrose Properties, Inc. has a 12-month low of $19.00 and a 12-month high of $31.48. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.07 and a current ratio of 0.07.

Millrose Properties (NYSE:MRP) last released 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Thursday, July 3rd were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 8.87%.

Insider Activity

In related news, CTO Adil Pasha purchased 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The stock was bought at an average cost of $28.34 per share, with a total value of $70,850.00. Following the completion of the purchase, the chief technology officer directly owned 2,500 shares in the company, valued at approximately $70,850. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Patrick J. Bartels, Jr. bought 8,750 shares of the stock in a transaction dated Monday, May 19th. The shares were acquired at an average price of $28.36 per share, with a total value of $248,150.00. Following the completion of the acquisition, the director directly owned 14,410 shares of the company’s stock, 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. In the last quarter, insiders purchased 18,750 shares of company stock valued at $530,800.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MRP. Citigroup initiated coverage on shares of Millrose Properties in a research note on Monday, April 14th. They set a “buy” rating and a $30.00 price target for the company. The Goldman Sachs Group lifted their target price on Millrose Properties from $28.00 to $31.50 and gave the stock a “buy” rating in a research note on Thursday, May 15th.

Millrose Properties Profile

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.