We recently published a list of Last Week’s 10 Best-Performing Stocks. In this article, we are going to take a look at where Millrose Properties Inc. (NYSE:MRP) stands against other last week’s best-performing stocks.
Ten firms outperformed Wall Street’s three major indices over the past week, clocking in double-digit gains on the back of a flurry of company developments that sparked buying appetite.
On a week-on-week basis, the Dow Jones rallied by 1.19 percent, the S&P 500 increased 0.5 percent, and the tech-heavy Nasdaq inched up 0.16 percent.
Meanwhile, 10 firms finished stronger with gains of 10 to 20 percent. In this article, let’s explore the names of last week’s best performers and the reasons behind their rallies.
To come up with the list, we only considered the stocks with at least a $2 billion market capitalization and $5 million in trading volume.
A row of iconic five-star hotel properties from the company situated along the skyline of a major city.
Millrose Properties Inc. (NYSE:MRP)
Millrose Properties grew its share price by 16.6 percent week-on-week to close at $25.35 versus the $21.74 on March 14 as investor buying was largely fueled by the announcement of cash dividends.
MRP, a newly spun-off firm, said it would be paying investors $0.38 per Class A and B shares by April 15 to investors as of record date of April 4.
The dividend was based on the initial period of MRP’s existence, covering the business from the day its stock began trading publicly to March 31.
MRP was spun off by its parent firm Lennar Corp. (NYSE:LEN) last month, which involved the latter’s distribution of approximately 80 percent of MRP shares to stockholders of LEN.
Each LEN shareholder as of record date January 21, 2025, received one share of MRP common stock.
MRP engages in land purchases, horizontal development, and homesite option purchase arrangements for LEN. It anticipates to attract other homebuilders seeking to implement an asset-light strategy.
Overall, MRP ranks 3rd on our list of last week’s best-performing stocks. While we acknowledge the potential of MRP as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as MRP but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
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