Company research
Millrose Properties, Inc.
CIK 2017206Updated Sep 24, 2026
SecurityMRP · NYSE · equity
MRP price & chart
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NYSE:MRP on TradingView ↗About the company
Millrose’s self-financing recycled capital business model is a unique feature of Millrose’s solution to traditional Land Banking, and is made possible by (a) the use of the HOPP’R to operate and manage the acquisition, financing and Horizontal Development of land assets on a large scale and (b) Lennar’s initial contribution of the Business Assets in return for equity — allowing Millrose access to assets and cash to finance new land acquisitions without having to repay the initial contribution. As part of the Spin-Off, Millrose will receive the Business Assets from Lennar, consisting of (i) the use of the HOPP’R and related intellectual property rights, including the HOPP’R trademark rights (the “HOPP’R Rights”); (ii) approximately $5.0-6.0 billion of developable Homesites and prospective Homesites that, in the aggregate, we believe have a relatively short and reliable expected cash conversion cycle, as described under “Our Properties” (the “Transferred Assets”); (iii) the “Lennar Services,” which give Millrose access to the land acquisition and Horizontal Development skillsets, knowledge, experience and expertise of Lennar’s personnel; and (iv) the “Cash Contribution” of (a) up to …
In the news
Lennar Completes Acquisition of Rausch Coleman Homes News provided by Lennar Corporation Feb 10, 2025, 17:11 ET Share this article Share to X Share this article Share to X MIAMI , Feb. 10, 2025 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B, "Lennar") announced today the completion of the p ↗
Recent filings
Regulation FD Disclosure · Other Events
Items 7.01, 8.01, 9.01
Other Events
Items 8.01, 9.01
Other Events
Items 8.01, 9.01
Entry into a Material Definitive Agreement · Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Items 1.01, 2.03, 9.01
Entry into a Material Definitive Agreement
Items 1.01, 9.01
Show 5 more recent filings
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 |
|---|---|---|
| ASSETS | ||
| AssetsUSD | 9,258,107,000Source | 5,465,290,000Source |
| Current assets: | ||
| Cash and Cash Equivalents, at Carrying ValueUSD | 35,046,000Source | 0Source |
| Inventory, NetUSD | — | 5,465,290,000Source |
| LIABILITIES AND EQUITY | ||
| LiabilitiesUSD | 3,401,845,000Source | 306,918,000Source |
| Stockholders’ equity: | ||
| Additional Paid in CapitalUSD | 5,873,087,000Source | — |
| Stockholders' Equity Attributable to ParentUSD | 5,856,262,000Source | 5,158,372,000Source |
| Liabilities and EquityUSD | 9,258,107,000Source | 5,465,290,000Source |
| Deferred Income Tax Liabilities, NetUSD | 77,333,000Source | — |
| Additional Financial Items | ||
| Deferred Tax Liabilities, NetUSD | 77,333,000Source | — |
| Dividends Payable, CurrentUSD | 100,000Source | — |
| Dividends PayableUSD | 124,503,000Source | — |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | 379,864,000Source | -246,221,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Share-based Payment Arrangement, Noncash ExpenseUSD | 677,000Source | 14,937,000Source |
| Changes in operating assets and liabilities: | ||
| Increase (Decrease) in InventoriesUSD | — | 716,073,000Source |
| Deferred Income Tax Expense (Benefit)USD | 20,509,000Source | — |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 3,672,821,000Source | -917,194,000Source |
| Cash flows from investing activities: | ||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -5,722,234,000Source | — |
| Cash flows from financing activities: | ||
| Net Cash Provided by (Used in) Financing ActivitiesUSD | 2,084,459,000Source | 917,194,000Source |
| Payments of Ordinary Dividends, Common StockUSD | 298,806,000Source | — |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | 35,046,000Source | — |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 35,046,000Source | 0Source |
| Supplemental disclosure of cash flow information: | ||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 23,942,000Source | — |
| Income Taxes Paid, NetUSD | 8,500,000Source | — |
| Additional Financial Items | ||
| Amortization of Debt Issuance Costs and DiscountsUSD | 20,273,000Source | — |
| Dividends Payable, CurrentUSD | 100,000Source | — |
| Dividends PayableUSD | 124,503,000Source | — |
| Income Tax Expense (Benefit)USD | 20,509,000Source | — |
| InterestExpenseNonoperatingUSD | 91,792,000Source | — |
| Investment Income, InterestUSD | 7,702,000Source | — |
| Net Income (Loss) Attributable to ParentUSD | 379,864,000Source | -246,221,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 404,824,000Source | -246,221,000Source |
| Nonoperating Income (Expense)USD | -85,695,000Source | — |
| Operating ExpensesUSD | 114,393,000Source | 246,221,000Source |
| Other Nonoperating Income (Expense)USD | -1,605,000Source | — |
income statement · annual statements
| Line item | FY 2025 | FY 2024 |
|---|---|---|
| Total RevenueUSD | 600,461,000Source | — |
| Selling, General and Administrative ExpenseUSD | 25,000,000Source | 246,200,000Source |
| Operating Income (Loss)USD | 486,068,000Source | -246,221,000Source |
| Other Nonoperating Income (Expense)USD | -1,605,000Source | — |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | 400,373,000Source | -246,221,000Source |
| Income Tax Expense (Benefit)USD | 20,509,000Source | — |
| Net Income (Loss) Attributable to ParentUSD | 379,864,000Source | -246,221,000Source |
| Earnings Per Share, BasicUSD per share | 2.44Source | — |
| Earnings Per Share, DilutedUSD per share | 2.44Source | — |
| Weighted Average Number of Shares Outstanding, Basicshares | 166,003,497Source | — |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 166,026,608Source | — |
| Interest Expense (non-operating)USD | 91,792,000Source | — |
| Additional Financial Items | ||
| Common Stock, Dividends, Per Share, DeclaredUSD per share | 2.55Source | — |
| Investment Income, InterestUSD | 7,702,000Source | — |
| Management Fee ExpenseUSD | 87,751,000Source | — |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 404,824,000Source | -246,221,000Source |
| Nonoperating Income (Expense)USD | -85,695,000Source | — |
| Operating ExpensesUSD | 114,393,000Source | 246,221,000Source |
Offerings
Registration 333-290810
Registration 333-283883
- Offering price
- market-price
- Ticker
- MRP
Filing attachments
ck0002017206-ex99_1.htm · 8-K · 2026-09-23
Exhibit 99.1 Millrose Properties Announces Quarterly Dividend Payment MIAMI - September 23, 2026 - Millrose Properties, Inc. (NYSE: MRP, “Millrose”), the homesite option platform for residential homebuilders, today announced that its Board of Directors has declared a quarterly cash dividend of approximately $131.2 million, or $0.79, per share of Class A and Class B common stock. The dividend will be paid on October 15, 2026, to shareholders of record as October 5, 2026. "We're pleased to anno…
Read attachment ↗d126321dex991.htm · 8-K · 2026-09-23
Exhibit 99.1 Millrose Properties, Inc. Announces Pricing of $1.0 Billion Senior Notes Offering Miami, Florida - September 22, 2026 - Millrose Properties, Inc. (NYSE: MRP) (“Millrose” or the “Company”) announced today the pricing of its private offering (the “Offering”) of $1.0 billion in aggregate principal amount of senior notes in two separate tranches, one representing $500.0 million in aggregate principal amount of 6.500% senior notes due 2029 (the “2029 Notes”) and the other representing …
Read attachment ↗d244618dex991.htm · 8-K · 2026-09-22
Exhibit 99.1 Millrose Properties, Inc. Announces Launch of $1.0 Billion Senior Notes Offering Miami, Florida - September 22, 2026 - Millrose Properties, Inc. (NYSE: MRP) (“Millrose” or the “Company”) announced today that it plans to offer (the “Offering”) up to $1.0 billion in aggregate principal amount of senior notes in two separate tranches, one representing $500.0 million in aggregate principal amount of senior notes due 2029 and the other representing $500.0 million in aggregate principal…
Read attachment ↗ck0002017206-ex99_1.htm · 8-K · 2026-08-04
EX-99.1 2 ck0002017206-ex99_1.htm EX-99.1 EX-99.1 Exhibit 99.1 Millrose Properties Reports Second Quarter 2026 Financial Results Second Quarter Net Income of $125.9 Million, or $0.76 Per Share Second Quarter AFFO of $0.77 Per Share; Quarterly AFFO Run Rate of $0.80 Per Share, High End of Guidance Expanded Counterparty Base to 19 Homebuilder and Developer Relationships and Redeployed $1.1 Billion in Land Acquisitions and Development Funding Across the Portfolio Total Homesites Under Opt…
Read attachment ↗ck0002017206-ex99_2.htm · 8-K · 2026-08-04
EX-99.2 3 ck0002017206-ex99_2.htm EX-99.2 Second Quarter 2026 Earnings Presentation Exhibit 99.2 Disclaimer This disclaimer applies to this document and the verbal comments of any person presenting it. This presentation, together with any such oral or written comments, is referred to herein as the “Presentation.” Forward-Looking Statements This Presentation relating to Millrose Properties, Inc. (“Millrose,” “we,” “our,” “us,” “MRP,” or the “Company”) contains certain “forward-looking statem…
Read attachment ↗ck0002017206-ex99_1.htm · 8-K · 2026-06-23
EX-99.1 2 ck0002017206-ex99_1.htm EX-99.1 EX-99.1 Exhibit 99.1 Millrose Properties Announces Quarterly Dividend Payment Miami - June 23, 2026 - Millrose Properties, Inc. (NYSE: MRP, “Millrose”), the homesite option platform for residential homebuilders, today announced that its Board of Directors has declared a quarterly cash dividend of approximately $127.9 million, or $0.77, per share of Class A and Class B common stock. The dividend will be paid on July 15, 2026, to shareholders of rec…
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