Short Interest in Millrose Properties, Inc. (NYSE:MRP) Declines By 48.1%

Millrose Properties, Inc. (NYSE:MRP) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totaling 5,632,109 shares, a drop of 48.1% from the November 30th total of 10,859,852 shares. Approximately 3.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,805,869 shares, the days-to-cover ratio is presently 2.0 days. Based on an average daily trading volume, of 2,805,869 shares, the days-to-cover ratio is presently 2.0 days. Approximately 3.4% of the shares of the stock are sold short.

Insider Buying and Selling

In other news, Director Carlos A. Migoya purchased 1,000 shares of the stock in a transaction dated Wednesday, November 12th. The shares were purchased at an average cost of $32.24 per share, with a total value of $32,240.00. Following the completion of the purchase, the director directly owned 16,766 shares of the company’s stock, valued at approximately $540,535.84. The trade was a 6.34% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Matthew B. Gorson purchased 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The shares were purchased at an average price of $32.69 per share, with a total value of $81,725.00. Following the completion of the transaction, the director directly owned 18,160 shares of the company’s stock, valued at $593,650.40. This represents a 15.96% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have bought 11,476 shares of company stock worth $373,264.

Institutional Trading of Millrose Properties

Several hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Millrose Properties during the first quarter worth about $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Millrose Properties by 144.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 973 shares of the company’s stock valued at $28,000 after buying an additional 575 shares during the period. Salomon & Ludwin LLC purchased a new stake in shares of Millrose Properties in the third quarter valued at approximately $29,000. First Financial Corp IN acquired a new position in Millrose Properties during the second quarter worth $32,000. Finally, Smartleaf Asset Management LLC raised its position in Millrose Properties by 55.8% in the third quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock worth $34,000 after acquiring an additional 357 shares in the last quarter.

Millrose Properties Stock Down 1.5%

NYSE MRP traded down $0.46 during trading on Monday, reaching $29.94. 1,473,706 shares of the company’s stock were exchanged, compared to its average volume of 2,043,205. The company has a 50 day moving average price of $31.17 and a two-hundred day moving average price of $31.50. The stock has a market cap of $4.97 billion and a P/E ratio of 17.61. Millrose Properties has a 1 year low of $19.00 and a 1 year high of $36.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.46 and a current ratio of 0.46.

Millrose Properties (NYSE:MRP) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $179.26 million for the quarter.

Millrose Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, January 5th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 10.0%. This is a boost from Millrose Properties’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, January 5th. Millrose Properties’s dividend payout ratio is presently 176.47%.

Wall Street Analyst Weigh In

MRP has been the topic of a number of recent research reports. BTIG Research started coverage on Millrose Properties in a research note on Monday, December 1st. They set a “buy” rating and a $35.00 price objective on the stock. Citizens Jmp began coverage on shares of Millrose Properties in a research report on Wednesday, October 8th. They set a “mkt outperform” rating and a $40.00 price target on the stock. Citigroup upped their price objective on shares of Millrose Properties from $34.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. JMP Securities began coverage on shares of Millrose Properties in a research report on Wednesday, October 8th. They set a “market outperform” rating and a $40.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Millrose Properties in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $36.90.

About Millrose Properties

Millrose Properties Corp is a publicly traded real estate investment trust that focuses on the acquisition, ownership and development of industrial and logistics properties. The company seeks to capitalize on the growing demand for modern warehouse facilities driven by e-commerce, freight distribution and last-mile delivery requirements. Millrose structures its investments to generate stable, long-term rental income through diversified lease agreements with industrial and logistics operators.

The firm’s core activities include sourcing strategically located industrial assets, overseeing property management operations and executing targeted development or renovation projects.