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Millrose Properties/$MRP

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About Millrose Properties

Millrose Properties Inc is a Holding Company. The company, along with its subsidiaries, engages in providing operational and capital solutions for home builders and land development companies to finance the acquisition and development of land assets through its Homesite Option Purchase Platform. The company generates a key portion of its revenue from Option fee revenues and a smaller portion of revenue from Development loan income.
Ticker
$MRP
Primary listing
NYSE
Employees
-

MRP Metrics

BasicAdvanced
$4.3B
8.49
$3.02
-
$3.07
12.33%

What the Analysts think about MRP

Analyst ratings (Buy, Hold, Sell) for Millrose Properties stock.
Analyst projections of the future price of Millrose Properties stock.

Bulls say / Bears say

AFFO rose to $0.77 per share in the second quarter, with the exit run rate at $0.80, the high end of guidance. Millrose also reported no option terminations since its platform began, supporting the case for dependable recurring income. (Millrose Properties)
Millrose is reducing its reliance on Lennar: invested capital outside that programme reached $2.8 billion, and the company expanded to 19 builder and developer relationships. Its first multifamily land-banking partnership with JPI also gives the model a new avenue for growth. (Millrose Properties, Millrose Properties)
Millrose’s land-banking model can appeal to builders that want to keep land off their balance sheets while preserving future community growth. Management said builders still need development-ready sites but are increasingly outsourcing land ownership, even as mortgage rates remain high. (The Motley Fool)
Millrose remains highly exposed to Lennar, which reportedly generated 72% of revenue last quarter. A recent investigation also highlighted Lennar’s influence over Millrose and questioned whether key related-party agreements were negotiated at arm’s length, raising concentration and governance risks. (Hunterbrook)
Funding growth is becoming more expensive: Millrose priced $1 billion of notes at 6.5% and 6.75%, alongside a $500 million term-loan draw. The company also reported $850 million outstanding on its revolving facility, so higher financing costs could squeeze the spread between borrowing and investment returns. (Millrose Properties)
The business remains exposed to a weak housing cycle. Millrose’s latest earnings call cited mortgage rates above 6%, elevated builder incentives and lower full-year delivery guidance across major builders; prolonged pressure could slow site demand and takedowns. (The Motley Fool)
Data summarised monthly by Lightyear AI. Last updated on 5 Oct 2026.

MRP Financial Performance

Revenues and expenses
Income statement
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
Net income
Profit margin

MRP Earnings Performance

Company profitability
Earnings per share
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
Expected
Surprise
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
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