Millrose Properties (NYSE:MRP) Trading 7.5% Higher – Should You Buy?

Millrose Properties, Inc. (NYSE:MRP) was up 7.5% during mid-day trading on Wednesday . The company traded as high as $26.17 and last traded at $26.06. Approximately 1,706,670 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 4,898,107 shares. The stock had previously closed at $24.24.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group started coverage on shares of Millrose Properties in a research report on Thursday, February 27th. They issued a “buy” rating and a $25.00 price target for the company.

Millrose Properties Stock Up 2.6 %

Millrose Properties Announces Dividend

The company also recently disclosed a — dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, April 4th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, April 4th.

Insider Buying and Selling

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

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.