Earnings ·
Millrose Properties reported second quarter 2026 net income of $125.9 million, or $0.76 per share, and Adjusted Funds…
MRPMillrose Properties, Inc.
Millrose Properties reported second quarter 2026 net income of $125.9 million, or $0.76 per share, and Adjusted Funds From Operations (AFFO) of $127.6 million, or $0.77 per share. The company declared a quarterly dividend of $0.77 per share, paid on July 15, 2026, to shareholders of record as of July 6, 2026. Total revenues reached $196.9 million, reflecting the impact of approximately $284 million in early development loan repayments that were redeployed into new opportunities. Invested capital outside of the Lennar Master Program Agreement grew by $117 million to $2.8 billion, bringing total homesites under option contracts and related assets to $9.7 billion across 143,771 homesites in 30 states. The company maintains a debt-to-capitalization ratio of approximately 30% with $1.4 billion in liquidity. Millrose Properties operates as a permanent capital solution for residential homebuilders and developers, specializing in the acquisition, financing, and development of residential land through long-term option agreements.