Millrose Properties Inc Class A ( (MRP) ) has released its Q1 earnings. Here is a breakdown of the information Millrose Properties Inc Class A presented to its investors.
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Millrose Properties, Inc., a company specializing in purchasing and developing residential land for homebuilders, operates within the real estate sector, offering a unique Homesite Option Purchase Platform to facilitate asset-light strategies for its clients.
In its first quarter as an independent entity following a spin-off from Lennar Corporation, Millrose Properties reported strong financial results, highlighting robust demand for its services and a strategic increase in transaction funding guidance for the year.
The company posted a net income of $64.8 million, or $0.39 per share, driven by $82.7 million in option fees. Millrose declared its inaugural dividend and reported a book value per share of $35.40. The company also showcased its strategic investments, including a significant acquisition from Rausch Coleman Homes and a $700 million commitment to acquire homesites in partnership with New Home Company.
Millrose’s portfolio ended the quarter with 111,000 homesites across 876 communities, reflecting a total portfolio weighted average yield of 8.7%. The company raised its full-year 2025 guidance for transaction funding to $1.5 billion and increased its year-end quarterly earnings per share run-rate, driven by heightened demand.
Looking ahead, Millrose Properties maintains a conservative leverage profile with ample liquidity to support its growth initiatives. The company remains focused on expanding its platform and capitalizing on opportunities within the homebuilding sector, supported by strategic partnerships and a robust capital structure.