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

Shares of Millrose Properties, Inc. (NYSE:MRP) rose 7.5% on Wednesday . The stock traded as high as $26.17 and last traded at $26.06. Approximately 1,706,670 shares traded 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 initiated coverage on shares of Millrose Properties in a research report on Thursday, February 27th. They issued a “buy” rating and a $25.00 price objective on the stock.

Millrose Properties Stock Performance

Millrose Properties Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, April 4th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, April 4th.

Insider Buying and Selling at Millrose Properties

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