Millrose Properties, Inc. MRP
Millrose Properties, Inc. is the premier permanent capital solution for residential homebuilders and developers. The company specializes in the acquisition, financing and development of residential land through long-term, capital-efficient structures. The company also provides homebuilders with a predictable, just-in-time supply of finished homesites – the scarcest and mission-critical resource in the homebuilding industry. Millrose utilizes a proprietary technology platform that provides real-time feedback and data analytics to drive acquisition decisions. Every transaction in the Millrose portfolio undergoes rigorous independent due diligence to ensure attractive yields and long-term viability. By enabling an asset-light model, Millrose provides its diverse roster of homebuilder partners with the strategic flexibility to maintain production volumes and optimize balance sheet efficiency across all market environments. Millrose Properties, Inc.is based in Miami, United States.
Business overview written from the company's own Form 10-K (Item 1), filed 2026-03-02 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K
Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.
Snapshot
Reported FFO / AFFO / leverage are from the Q1 2026 earnings release (filed 2026-05-06) — 8-K, EX-99.1 ✓ Verified to filing.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
$10,000 invested
Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.
Model MRP yourself — any amount, shares, per-payment & a multi-year DRIP projection →
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $600.46M | $379.86M | $0.00 | $492.17M | $3.67B |
| 2024 | $0.00 | $-246.22M | $0.00 | $-246.22M | $-917.19M |
| 2023 | $0.00 | $-209.79M | $0.00 | $-209.79M | $-865.12M |
| 2022 | $0.00 | $-144.25M | $61.00K | $-193.05M | $-328.64M |
Dividends
Recent regular dividends per share (special distributions excluded), oldest → newest.
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-10-05 | 2026-10-05 | 2026-10-15 | 2026-09-23 | $0.79 | Quarterly |
| 2026-07-06 | 2026-07-06 | 2026-07-15 | 2026-06-23 | $0.77 | Quarterly |
| 2026-04-02 | 2026-04-03 | 2026-04-15 | 2026-03-23 | $0.76 | Quarterly |
| 2026-01-05 | 2026-01-05 | 2026-01-15 | 2025-12-22 | $0.75 | Quarterly |
| 2025-10-03 | 2025-10-03 | 2025-10-15 | 2025-09-22 | $0.73 | Quarterly |
| 2025-07-03 | 2025-07-03 | 2025-07-15 | 2025-06-16 | $0.69 | Quarterly |
| 2025-04-04 | 2025-04-04 | 2025-04-15 | 2025-03-17 | $0.38 | Quarterly |
Coverage (payout of operating cash flow): 14.28%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Recent news — MRP
ROSEN, A RANKED AND LEADING LAW FIRM, Encourages Millrose Properties, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - MRP
INVESTOR ALERT: Millrose Properties, Inc. Investors (MRP) with Substantial Losses May Seek to Lead Class Action Lawsuit Before December 8, 2026 Deadline - RGRD Law
ROSEN, RECOGNIZED INVESTOR COUNSEL, Encourages Millrose Properties, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - MRP
MRP Investors Have Opportunity to Lead Millrose Properties, Inc. Securities Fraud Lawsuit
MRP Investors Have Opportunity to Lead Millrose Properties, Inc. Securities Fraud Lawsuit
Millrose Shareholder Alert: ClaimsFiler Reminds Investors With Losses In Excess Of $100,000 Of Lead Plaintiff Deadline In Class Action Lawsuit Against Millrose Properties, Inc. - MRP
Millrose Shareholder Alert: ClaimsFiler Reminds Investors With Losses In Excess Of $100,000 Of Lead Plaintiff Deadline In Class Action Lawsuit Against Millrose Properties, Inc. - MRP
ROSEN, LEADING INVESTOR COUNSEL, Encourages Millrose Properties, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - MRP
Headlines via Financial Modeling Prep; links open the original publisher in a new tab. Not an endorsement or investment advice.
Other Residential REITs
Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.