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30.34 USD
P/E
10.53
EPS
2.88
Yield
9.94%
Safety Score
48
P/B
0.86
ROE
8.12
Target Price
37.60 USD
Millrose Properties, Inc. logo

Millrose Properties, Inc.

🧾 Earnings Recap – Q1 2026

Millrose Properties shares fell 10.7% after the earnings release, reflecting investor disappointment likely tied to cautious near-term demand indicators and margin pressures in the homebuilding sector, despite stable recurring earnings and capital deployment.

  • Invested capital rose modestly to $8.7 billion from $8.5 billion last quarter, with 95% pooled capital maintaining disciplined deployment.
  • AFFO increased to $125.9 million, up on a per-day basis despite a shorter quarter, underscoring recurring and contractual income stability.
  • Diversification improved with 17 counterparties, including 31% of the portfolio outside the core Lennar agreement, broadening exposure beyond a single relationship.
  • Management highlighted ongoing margin compression (200 to 500 basis points) and cautious builder behavior amid rate volatility and geopolitical uncertainty, contributing to a choppy demand environment.
  • Credit facility amendments enhanced liquidity and flexibility with $1.8 billion unsecured capacity and $1.5 billion quarter-end liquidity, supporting future capital deployment.
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Key Metrics
Earnings dateOct. 22, 2026
P/E10.53
EPS2.88
Book Value35.24
Price to Book0.86
Debt/Equity42.58
% Insiders1.128%
Growth
Revenue Growth0.32%
Earnings Growth0.12%
Estimates
Forward P/E9.31
Forward EPS3.26
Target Mean Price37.60
Dividend
Dividend Yield9.94%
Annual dividends3.01 USD
Ex-Div. DateJuly 6, 2026
Payout102.17%

DCF Valuation

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Millrose Properties, Inc. Logo Millrose Properties, Inc. Analysis (MRP)

Is Millrose Properties, Inc. a good investment? Millrose Properties, Inc. (MRP) is currently trading at 30.34 USD. Market analysts have a consensus price target of 37.60 USD. This suggests a potential upside from current levels.

In terms of valuation, the stock trades at a P/E ratio of 10.53. This relatively low multiple may signal that Millrose Properties, Inc. is undervalued compared to historical market norms.

Earnings Schedule: Millrose Properties, Inc. is expected to release its next earnings report on Oct. 22, 2026. The market consensus estimate for Forward EPS is 3.26.

For income investors, Millrose Properties, Inc. pays a dividend yield of 9.94%. With a payout ratio of 102%, the dividend appears to be under pressure.

Investor FAQ

Does Millrose Properties, Inc. pay a dividend?

Yes, it pays an annual dividend of 3.01 USD (9.94% yield).

What asset class is Millrose Properties, Inc.?

Millrose Properties, Inc. is classified as a Stock.

When is the next earnings date?

The next earnings date is projected to be Oct. 22, 2026. The company currently has a trailing EPS of 2.88.

Company Profile

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.

Trades
Dividend Yield
9.94%
Annual Dividends
3.01USD
Next Ex. Div Date
July 6, 2026
Payout Ratio
102.17%
Dividend History paid per year (USD)
Historical Dividends
Year Total Dividends
2027
2.28 USD
July 15, 2027 (estimated) 0.7700
April 15, 2027 (estimated) 0.7600
Jan. 15, 2027 (estimated) 0.7500
2026
3.01 USD
Oct. 15, 2026 (estimated) 0.7300
July 15, 2026 0.7700
April 15, 2026 0.7600
Jan. 15, 2026 0.7500
2025
1.80 USD
Oct. 15, 2025 0.7300
July 15, 2025 0.6900
April 15, 2025 0.3800
Upcoming Dividends
Name Payment Date Status Amount
Millrose Properties, Inc. Jul 15, 2026 0.77 USD
Millrose Properties, Inc. Apr 15, 2026 0.76 USD
Millrose Properties, Inc. Jan 15, 2026 0.75 USD
Millrose Properties, Inc. Oct 15, 2025 0.73 USD
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