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Garett Rosenblum, the Chief Financial Officer and Treasurer of Millrose Properties , Inc. (NYSE:MRP), recently purchased 5,900 shares of the company’s Class A common stock. The transaction, which took place on March 3, was executed at a price of $22.8376 per share, amounting to a total investment of approximately $134,741. The purchase comes as InvestingPro data shows the stock trading at 0.76 times book value, with technical indicators suggesting overbought conditions. This acquisition increases Rosenblum’s direct ownership in the company to 5,900 shares. The $3.79 billion market cap company maintains strong liquidity with a current ratio of 20.68, according to InvestingPro, which offers 6 additional key insights about MRP’s financial health and market position.
In other recent news, Goldman Sachs has initiated coverage on Millrose Properties with a Buy rating and set a 12-month price target of $25. This suggests a potential total return of about 21%, factoring in a forward twelve-month dividend yield of 10%. The investment firm anticipates that Millrose Properties will experience growth through additional land site acquisitions and option contracts with various homebuilders. Goldman Sachs forecasts an average earnings per share and funds from operations growth of 11% annually from 2025 through 2027, driven by strategic leverage use for land acquisitions. Currently, Millrose Properties’ sole customer is Lennar (NYSE:LEN), but the company is expected to expand its customer base. Despite trading at a discount of approximately 34% to its book value per share, Goldman Sachs believes this gap will narrow as the company demonstrates reliable cash flow. The firm also expects the market to recognize Millrose Properties’ value more accurately as it grows through accretive land acquisitions.
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