Maui Land & Pineapple (MLP)

What Moves the Stock

1. 01Kapalua Resort residential lot sale closings and pricing trends (number of units sold, average selling prices)
2. 02Development entitlement approvals and infrastructure completion milestones for new phases
3. 03High-net-worth buyer demand for Hawaii luxury real estate (influenced by wealth effect from equity markets)
4. 04Maui tourism trends and resort occupancy rates affecting commercial lease income
5. 05Land use regulatory decisions and environmental permitting outcomes
6. 06Residential real estate sales (luxury lots and homes in Kapalua Resort, estimated 60-70% of revenue)
7. 07Commercial leasing and resort operations (retail, office, hospitality ground leases, estimated 20-30%)
8. 08Agricultural operations (pineapple farming and diversified agriculture, estimated 5-10%)

MLP Chart

My Notes

• value/speculative - The stock attracts value investors seeking exposure to scarce Hawaii real estate at a discount to underlying land value…
• High sensitivity to mortgage rates and broader financing costs.
• Watch on earnings: S&P/Case-Shiller Home Price Index (CSUSHPINSA) as proxy for US housing market health, 30-year fixed mortgage rates (MORTGAGE30US) affecting buyer financing costs, Consumer sentiment (UMCSENT) and wealth effects driving luxury discretionary purchases.