Welcome to our dedicated page for Millrose Properties SEC filings (Ticker: MRP), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Millrose Properties, Inc. (NYSE: MRP) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures as filed with the U.S. Securities and Exchange Commission. Millrose is a residential-focused real estate investment trust that operates a Homesite Option Purchase Platform for homebuilders, and its filings offer detailed insight into how this model is structured and financed.
Current and periodic reports such as Form 8-K, Form 10-Q and Form 10-K (when available) describe Millrose’s option fee revenues, development loan income, homesite inventory, Invested Capital and non-GAAP measures like Adjusted Funds From Operations (AFFO). These documents also explain how the company defines Invested Capital and AFFO, how it calculates portfolio yields and how it evaluates its REIT performance.
Millrose’s filings further outline its capital structure and debt arrangements. Form 8-K reports have detailed the company’s revolving credit agreement, delayed draw term loan facility and senior notes offerings, including interest rates, maturities, redemption provisions and key covenants. Credit agreements and indentures filed as exhibits describe leverage and interest coverage requirements, collateral arrangements and conditions related to maintaining REIT status.
Investors can also review filings related to dividends and corporate actions. Millrose has filed Form 8-Ks announcing quarterly cash dividends on its Class A and Class B common stock, specifying record and payment dates. Other filings address its spin-off from Lennar, the Lennar Master Program Agreement and Lennar’s exchange offer involving Millrose Class A common stock, which together provide context on Millrose’s shareholder base and strategic relationship with Lennar.
Stock Titan enhances these filings with AI-powered summaries that highlight key points from lengthy documents, helping readers quickly understand the implications of new credit facilities, notes offerings, earnings releases or dividend declarations. Real-time updates from EDGAR ensure that new Millrose 8-Ks, 10-Qs, 10-Ks and related exhibits appear promptly, while Form 4 and other ownership reports can be used to monitor insider transactions when they are filed.
By using this page, investors and researchers can examine the official record of how Millrose structures its homesite option platform, manages leverage and liquidity, defines its non-GAAP metrics and administers its REIT distribution policy, all based on primary SEC disclosures.
Millrose Properties, Inc. is holding its annual stockholder meeting on May 18, 2026 at 8:30 a.m. Eastern at 600 Brickell Avenue, Miami, Florida. Stockholders will vote on electing five directors to one-year terms and ratifying Deloitte & Touche LLP as independent auditor for 2026.
Holders of 154,183,686 Class A shares (one vote per share) and 11,819,811 Class B shares (ten votes per share) as of March 23, 2026 may vote, with both classes voting together. Millrose is externally managed under a Management Agreement with Kennedy Lewis and is operating a large land-banking program, reporting 2025 option fee revenues of $484.8 million and land funding of $2.862 billion with $3.167 billion in net takedown proceeds from Lennar-related arrangements.
Millrose Properties, Inc. filed a Form S-3 shelf registration to register debt securities, Class A common stock, preferred stock, depositary shares, warrants and units for potential sale from time to time after this registration statement becomes effective. The prospectus is dated March 31, 2026 and states offerings will be made by prospectus supplement.
The prospectus discloses the Company’s last reported sale price of $27.28 per share on March 30, 2026. It also shows shares outstanding as of March 23, 2026: 154,183,686 shares of Class A common stock and 11,819,811 shares of Class B common stock, plus 11,559,464 additional shares reserved under the long-term incentive plan.
Millrose Properties Inc Schedule 13G/A Amendment No. 2: The Vanguard Group reports zero beneficial ownership of Millrose common stock. The filing states Vanguard underwent an internal realignment on January 12, 2026 and disaggregated certain subsidiaries or business divisions in reliance on SEC Release No. 34-39538, resulting in separate reporting by those entities. The filing lists 0 shares and 0% ownership and is signed by Ashley Grim, Head of Global Fund Administration, dated 03/27/2026.
Millrose Properties, Inc. entered into an amended and restated credit agreement that expands and refinances its main lending facility. The new unsecured structure includes a four-year revolving credit commitment of $1.335 billion and a $500 million delayed draw term loan that together provide up to $1.835 billion of floating rate capacity, with an accordion feature allowing total commitments up to $2.5 billion. The facility, which matures on March 25, 2030, replaces the company’s prior secured revolver, releases related liens, and will be used for general corporate purposes, including repayment of existing indebtedness.
Millrose Properties, Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.76 per share on both Class A and Class B common stock, totaling approximately $126.2 million. The dividend will be paid on April 15, 2026 to shareholders of record as of April 3, 2026.
The company positions itself as a permanent capital partner for residential homebuilders, emphasizing a technology-enabled platform for acquiring and developing land to supply finished homesites. Management highlights the ability to maintain consistent capital returns to shareholders across different market environments.
Millrose Properties, Inc. (MRP) director Matthew B. Gorson reported an open-market purchase of 1,000 shares of Class A Common Stock on March 5, 2026 at a weighted average price of $30.665 per share. Following this transaction, his direct holdings total 25,611 shares.
The shares were bought in multiple trades at prices ranging from $30.66 to $30.67 per share, with the reported price reflecting the weighted average across those individual transactions.
Millrose Properties, Inc. is a newly spun-off, externally managed land-banking company that plans to elect REIT status for 2025. It acquires and develops residential land and sells finished homesites to builders via option contracts that generate recurring option fees and takedown proceeds.
As of December 31, 2025, Millrose controlled 142,139 homesites in 933 communities across 30 states, with estimated future takedown proceeds of $16.1 billion. The business is highly tied to Lennar, which contributed about $5.5 billion of land and $1.0 billion of cash in the spin-off and accounted for the majority of 2025 option fee revenue.
Millrose expanded through the $859 million Rausch land acquisition and a $494.5 million Landsea portfolio funding for New Home, financed partly by a terminated $1.0 billion delayed-draw term facility and a $1.25 billion 6.375% 2030 note plus $750 million 6.25% 2032 note. The company targets conservative leverage, but carries substantial debt and operates under extensive long-term agreements granting Lennar significant rights and influence.
Millrose Properties, Inc. furnished an investor presentation in connection with upcoming appearances at Citi’s 2026 Global Property CEO Conference and J.P. Morgan’s Global High Yield & Leveraged Finance Conference. The materials outline its homesite option platform, capital structure and 2025 activity.
Millrose reports 142,139 homesites across 933 communities in 30 states, supported by about $9.2B of land assets and shareholder’s equity of roughly $5.9B as of December 31, 2025. Total future takedown proceeds are estimated at $16.1B, with a portfolio weighted average yield of 9.2%.
In 2025 the company deployed about $5.5B of net acquisition and development funding and recorded $3.4B in net takedowns, delivering 31,575 homesites. Debt consists mainly of $2.0B of senior notes and revolver borrowings, resulting in 26% debt to capitalization and approximately $1.3B of available liquidity.
Millrose Properties, Inc. reported strong fourth quarter and full year 2025 results driven by its homesite option platform. For 2025, total revenues were $600.5 million, with net income attributable to common shareholders of $404.8 million, or $2.44 per share, and AFFO of $427.9 million, or $2.58 per share.
In the fourth quarter, net income was $122.2 million, or $0.74 per share, and AFFO was $125.6 million, or $0.76 per share, slightly above its year-end quarterly AFFO run rate guidance. The company declared a quarterly dividend of $0.75 per share and states it distributes 100% of AFFO to shareholders.
Millrose ended 2025 with approximately 142,000 homesites across 933 communities in 30 states, total assets of about $9.3 billion, total debt of $2.1 billion and a debt‑to‑capitalization ratio of 26%. The portfolio’s weighted average yield was 9.2%, supported by $8.47 billion of invested capital and a growing pipeline beyond its Lennar Master Program Agreement.