Millrose Properties, Inc. (NYSE:MRP) Short Interest Down 48.1% in December

Millrose Properties, Inc. (NYSE:MRP) saw a significant 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. Based on an average trading volume of 2,805,869 shares, the days-to-cover ratio is currently 2.0 days. Currently, 3.4% of the company’s shares are sold short. Currently, 3.4% of the company’s shares are sold short. Based on an average trading volume of 2,805,869 shares, the days-to-cover ratio is currently 2.0 days.

Wall Street Analysts Forecast Growth

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

Insider Activity at Millrose Properties

In related news, Director Carlos A. Migoya bought 1,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were purchased at an average price of $32.24 per share, with a total value of $32,240.00. Following the purchase, the director owned 16,766 shares of the company’s stock, valued at approximately $540,535.84. This trade represents a 6.34% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick J. Bartels, Jr. purchased 7,500 shares of Millrose Properties 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 transaction, the director directly owned 30,660 shares of the company’s stock, valued at $997,063.20. This trade represents a 32.38% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 11,476 shares of company stock worth $373,264 over the last quarter.

Institutional Trading of Millrose Properties

Several institutional investors have recently added to or reduced their stakes in MRP. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Millrose Properties in the first quarter worth $27,000. MassMutual Private Wealth & Trust FSB raised its position in Millrose Properties by 144.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 973 shares of the company’s stock worth $28,000 after buying an additional 575 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in Millrose Properties in the 3rd quarter worth about $29,000. First Financial Corp IN bought a new position in Millrose Properties during the 2nd quarter valued at about $32,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Millrose Properties by 55.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock valued at $34,000 after acquiring an additional 357 shares during the last quarter.

Millrose Properties Stock Up 1.0%

Shares of NYSE:MRP traded up $0.31 on Friday, hitting $30.40. 797,936 shares of the company traded hands, compared to its average volume of 2,500,856. The stock has a 50 day simple moving average of $31.17 and a 200-day simple moving average of $31.45. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.34. The company has a market cap of $5.05 billion and a PE ratio of 17.88. Millrose Properties has a 52 week low of $19.00 and a 52 week high of $36.00.

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

Millrose Properties Increases Dividend

The company 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 dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 9.9%. This is an increase 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 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.