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Millrose Properties, Inc.NYSE:MRP Stock Report

Market Cap US$4.5b
Share Price
US$27.29
US$38.6
29.3% undervalued intrinsic discount
1Y3.8%
7D-7.6%
Portfolio Value
View

Millrose Properties, Inc.

NYSE:MRP Stock Report

Market Cap: US$4.5b

Millrose Properties (MRP) Stock Overview

Millrose Properties, Inc. is the premier homesite option platform for residential homebuilders. More details

MRP fundamental analysis
Snowflake Score
Valuation6/6
Future Growth1/6
Past Performance3/6
Financial Health4/6
Dividends4/6

MRP Community Fair Values

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Millrose Properties, Inc. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Millrose Properties
Historical stock prices
Current Share PriceUS$27.29
52 Week HighUS$36.00
52 Week LowUS$25.62
Beta0
1 Month Change-10.73%
3 Month Change-13.37%
1 Year Change3.80%
3 Year Changen/a
5 Year Changen/a
Change since IPO24.38%

Recent News & Updates

Seeking Alpha May 06

Millrose Properties: Solid Income Prospects With Limited Growth

Summary Millrose Properties offers a 10% dividend yield, serving as a lower-beta, income-focused play on the housing market post-Lennar spin-off. MRP's portfolio is ramping toward a steady state, with $1 billion deployed in Q1 and full-year guidance reaffirmed for $2 billion in capital deployment. Lennar remains MPR's core counterparty, but non-Lennar exposure is growing, supporting a potential portfolio yield increase toward 9.5%. With muted long-term dividend growth and shares likely to trade below book value, I maintain a 'Buy' rating for income-oriented investors. Read the full article on Seeking Alpha

Recent updates

Seeking Alpha May 06

Millrose Properties: Solid Income Prospects With Limited Growth

Summary Millrose Properties offers a 10% dividend yield, serving as a lower-beta, income-focused play on the housing market post-Lennar spin-off. MRP's portfolio is ramping toward a steady state, with $1 billion deployed in Q1 and full-year guidance reaffirmed for $2 billion in capital deployment. Lennar remains MPR's core counterparty, but non-Lennar exposure is growing, supporting a potential portfolio yield increase toward 9.5%. With muted long-term dividend growth and shares likely to trade below book value, I maintain a 'Buy' rating for income-oriented investors. Read the full article on Seeking Alpha
Seeking Alpha Mar 20

Millrose Properties Is A Compelling Opportunity As Its Business Ramps

Summary Millrose Properties shares surged 10% following its first quarterly dividend announcement and anticipated earnings run-rate, making it an attractive investment. MRP, spun out from Lennar, holds attractive land assets, offering a 10.8% yield and targeting a 7% ROE, with potential for improvement. Despite current discounts due to Lennar's stake and market pressures, MRP's diverse portfolio and strategic deals with other builders promise stable cash flows. With a fair value target of $28, MRP offers 25% upside, including dividends, making it a compelling buy in the housing sector. Read the full article on Seeking Alpha

Shareholder Returns

MRPUS Specialized REITsUS Market
7D-7.6%1.1%2.6%
1Y3.8%4.2%26.2%

Return vs Industry: MRP matched the US Specialized REITs industry which returned 2.9% over the past year.

Return vs Market: MRP underperformed the US Market which returned 31.1% over the past year.

Price Volatility

Is MRP's price volatile compared to industry and market?
MRP volatility
MRP Average Weekly Movement4.3%
Specialized REITs Industry Average Movement3.7%
Market Average Movement7.2%
10% most volatile stocks in US Market16.1%
10% least volatile stocks in US Market3.2%

Stable Share Price: MRP has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: MRP's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
n/an/aDarren Richmanmillroseproperties.com

Millrose Properties, Inc. is the premier homesite option platform for residential homebuilders. The company specializes in the acquisition and horizontal development of land to provide a predictable, just-in-time supply of finished homesites – the scarcest and mission-critical resource in the homebuilding industry. Unlike traditional land bankers, Millrose utilizes a proprietary technology platform that provides real-time feedback and data analytics to drive acquisition decisions.

Millrose Properties, Inc. Fundamentals Summary

How do Millrose Properties's earnings and revenue compare to its market cap?
MRP fundamental statistics
Market capUS$4.47b
Earnings (TTM)US$462.94m
Revenue (TTM)US$712.69m
9.8x
P/E Ratio
6.4x
P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
MRP income statement (TTM)
RevenueUS$712.69m
Cost of RevenueUS$103.80m
Gross ProfitUS$608.89m
Other ExpensesUS$145.95m
EarningsUS$462.94m

Last Reported Earnings

Mar 31, 2026

Next Earnings Date

n/a

Earnings per share (EPS)2.79
Gross Margin85.44%
Net Profit Margin64.96%
Debt/Equity Ratio41.5%

How did MRP perform over the long term?

See historical performance and comparison

Dividends

11.1%
Current Dividend Yield
91%
Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/11 14:34
End of Day Share Price 2026/05/11 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Millrose Properties, Inc. is covered by 7 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ryan GilbertBTIG
Nicholas JosephCitigroup Inc
Nicholas JosephCitigroup Inc