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.

Ticker

$MRP

Primary listing

NYSE

Employees

-

MRP Metrics

BasicAdvanced
$5.8B
121.60
$0.29
-
$1.07
7.84%

Bulls say / Bears say

In Q2 2025, Millrose reported net income of $112.8 million ($0.68 per share) and AFFO of $115.0 million ($0.69 per share), achieving a 7.8% annualized return on equity, which highlights the company’s strong profitability from its option fee model. (Business Wire)
Millrose grew its customer base by deploying $813 million with third-party homebuilders at an 11.2% weighted average yield, increasing non-Lennar capital to about $1.1 billion and showing progress in diversifying beyond its original partner. (Business Wire)
Since the spin-off, Millrose shares are trading at roughly 63% of their year-end book value, suggesting notable upside potential if market sentiment turns positive. (Barron's)
Despite diversification efforts, over 80% of Millrose’s portfolio is still concentrated with Lennar under its master program agreement, making the company highly dependent on Lennar’s land acquisition activity and exposing it to the cyclical risks of the homebuilding sector. (Barron's)
The spin-off structure involves complex cross-termination and non-recourse agreements with Lennar, which create execution risk; Millrose’s liquidity could be at risk if Lennar decides not to exercise purchase options for land pools. (Barron's)
As a planned REIT, Millrose is required to pay out at least 90% of its taxable income as dividends, limiting its ability to retain capital internally and potentially restricting resources for future land purchases. (Barron's)
Data summarised monthly by Lightyear AI. Last updated on 31 Aug 2025.
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.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.

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