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

Millrose Properties, Inc. (NYSE:MRP) saw a large drop in short interest in the month of 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 company are short sold. Based on an average daily trading volume, of 2,805,869 shares, the short-interest ratio is currently 2.0 days. Based on an average daily trading volume, of 2,805,869 shares, the short-interest ratio is currently 2.0 days. Approximately 3.4% of the shares of the company are short sold.

Insider Activity at Millrose Properties

In related news, Director Matthew B. Gorson purchased 2,500 shares of the business’s stock in a transaction dated Wednesday, October 29th. The stock was purchased at an average cost of $32.69 per share, with a total value of $81,725.00. Following the completion of the acquisition, the director directly owned 18,160 shares of the company’s stock, valued at approximately $593,650.40. The trade was a 15.96% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Patrick J. Bartels, Jr. acquired 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The shares were bought at an average price of $32.52 per share, for a total transaction of $243,900.00. Following the completion of the purchase, the director owned 30,660 shares in the company, valued at $997,063.20. This trade represents a 32.38% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 11,476 shares of company stock worth $373,264.

Institutional Investors Weigh In On Millrose Properties

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new stake in Millrose Properties in the 1st quarter worth $27,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Millrose Properties by 144.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 973 shares of the company’s stock worth $28,000 after purchasing an additional 575 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in Millrose Properties during the 3rd quarter valued at about $29,000. First Financial Corp IN bought a new position in Millrose Properties during the 2nd quarter valued at approximately $32,000. Finally, Smartleaf Asset Management LLC lifted its holdings in Millrose Properties by 55.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock worth $34,000 after buying an additional 357 shares during the period.

Analyst Upgrades and Downgrades

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

Millrose Properties Trading Up 1.0%

Millrose Properties stock traded up $0.31 during mid-day trading on Friday, hitting $30.40. The company’s stock had a trading volume of 797,936 shares, compared to its average volume of 2,500,856. The business has a 50 day moving average price of $31.17 and a 200-day moving average price of $31.45. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.46 and a quick ratio of 0.46. Millrose Properties has a 12 month low of $19.00 and a 12 month high of $36.00. The stock has a market cap of $5.05 billion and a price-to-earnings ratio of 17.88.

Millrose Properties (NYSE:MRP) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The firm had revenue of $179.26 million during the quarter.

Millrose Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, January 5th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 9.9%. 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 payout ratio is currently 171.76%.

Millrose Properties Company Profile

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.