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. (MRP) reported third-quarter 2026 revenue of $211.004 million and net income of $130.002 million, or $0.78 per share; net income increased 24%, or $24 million, from Q3 2025. AFFO was $133.519 million, or $0.80 per share, and year-end 2026 quarterly AFFO run-rate outlook rose to $0.82 to $0.84 per share.
Millrose redeployed $1.3 billion into land acquisition and development funding and generated $0.8 billion in net cash proceeds from homesite sales. After quarter-end, it completed approximately $1.1 billion of capital support tied to Dream Finders Homes’ acquisition of Beazer Homes; approximately 42% of its asset base was then invested outside the Lennar Master Program Agreement. It also acquired 1,233 completed rental homes for an approximately $333 million cost basis, using approximately $120 million of balance-sheet capital and $213 million of limited-recourse secured financing.
As of September 30, 2026, total assets were $10.6 billion, total liquidity was $0.8 billion, and corporate debt was $3.1 billion. On October 26, 2026, the board authorized a $250 million share repurchase program. Repurchases may occur in open-market or privately negotiated transactions, subject to market conditions and other considerations; the program does not obligate Millrose to repurchase any specific number of shares and may be suspended or discontinued.
Millrose Properties, Inc. completed a $1.0 billion senior-note issuance on October 6, 2026: $500.0 million of 6.500% notes due October 15, 2029, and $500.0 million of 6.750% notes due October 15, 2031. Interest is payable April 15 and October 15, beginning April 15, 2027.
The notes are senior unsecured obligations, fully and unconditionally guaranteed by wholly owned subsidiaries. They rank equally with senior debt and ahead of future subordinated debt, but are effectively subordinated to secured debt and structurally subordinated to liabilities of subsidiaries that do not guarantee them. The indentures limit certain liens, sale-leaseback transactions and mergers, subject to qualifications and exceptions.
Before October 15, 2027, Millrose may redeem up to 40% of the 2029 notes using net cash proceeds from certain equity offerings at 106.500% of principal; the corresponding terms for the 2031 notes apply before October 15, 2028, at 106.750%. The 2031 notes must be redeemed in full if the Dream Finders Homes–Beazer Homes merger is not completed by May 13, 2027, its agreement is terminated before then, or Millrose notifies the trustee it will not be completed by then.
Millrose Properties, Inc. (MRP) declared a quarterly cash dividend of $0.79 per share on its Class A and Class B common stock, totaling approximately $131.2 million. The dividend is payable October 15, 2026, to stockholders of record as of the close of business October 5, 2026. Chief Executive Officer and President Darren Richman described it as another quarterly dividend increase.
Millrose Properties, Inc. priced a private offering of $1.0 billion in aggregate principal amount of senior notes: $500.0 million of 6.500% notes due 2029 and $500.0 million of 6.750% notes due 2031. Each tranche is priced at 100.000% of principal, plus accrued interest, if any, from October 6, 2026. Closing is expected October 6, 2026, subject to customary closing conditions. The notes are offered to persons reasonably believed to be qualified institutional buyers under Rule 144A and certain non-U.S. persons outside the United States under Regulation S. The notes and guarantees are not registered under the Securities Act.
Millrose intends to use net proceeds, together with $500 million drawn under its delayed draw term loan facility, for general corporate purposes, which may include homesite acquisitions from the combined Dream Finders Homes and Beazer Homes entity and repayment of its revolving credit facility. The revolving facility had $850 million principal outstanding as of September 21, 2026. If the Dream Finders Transaction is not consummated on or prior to May 13, 2027, Millrose will use a portion of offering proceeds, cash on hand and/or revolving-facility borrowings to effect a special mandatory redemption of all 2031 Notes then outstanding.
Millrose Properties, Inc. (MRP) announced that it plans to issue up to $1.0 billion in senior notes in a private Offering, consisting of $500.0 million of notes due 2029 and $500.0 million of notes due 2031, subject to market conditions. The notes will be offered to qualified institutional buyers under Rule 144A and to certain non-U.S. persons under Regulation S, without registration under the Securities Act.
Millrose intends to use the net proceeds, together with $500 million drawn under its delayed draw term loan facility, for general corporate purposes, potentially including acquiring homesites related to the previously announced Dream Finders Transaction, and to repay borrowings under its revolving credit facility, which had $850 million outstanding as of September 21, 2026. If the Dream Finders Transaction is not completed by May 13, 2027, the company will use a portion of the net proceeds, plus cash or revolver borrowings, to effect a special mandatory redemption of $500 million of the 2031 notes.
Millrose Properties, Inc. (MRP) entered into a Commitment and Acceptance on September 21, 2026 that amends its existing Amended and Restated Credit Agreement. The agreement adds Flagstar Bank, N.A. as a new lender under the Revolving Credit Facility and uses the credit agreement’s accordion feature to increase aggregate revolving commitments by $50 million to $1.385 billion. This creates an additional committed borrowing capacity and is reported as a direct financial obligation of the company.
Millrose Properties, Inc. (MRP) reported that on August 27, 2026 it amended two key agreements governing its structure and operations. The company and Lennar entities executed an Amendment to the Founder’s Rights Agreement, revising how the Priority Amount is used for the Capital Priority Right and for Lennar’s secured financing collateral consent right.
On the same date, Millrose Properties and its external manager, Kennedy Lewis Land and Residential Advisors LLC, entered into an Amendment to the Management Agreement. This amendment updates the scope of the investment guidelines and changes the definition of Reimbursable Expenses under the management arrangement.
Carlos A. Migoya, a director of Millrose Properties, Inc., purchased 1,000 shares of Class A Common Stock on August 7, 2026 at $29.18 per share in an open market or private transaction. Following this buy, his directly held stake increased to 30,075 shares.
Millrose Properties, Inc. director Matthew B. Gorson purchased 3,000 shares of Class A Common Stock on 2026-08-10 at $28.80 per share in a purchase described as an open market or private transaction. Following this buy, his directly held stake increased to 38,750 shares. The Rule 10b5-1 trading plan affirmation checkbox was not marked, so the purchase is not identified as being made under such a plan.
FMR LLC and Abigail P. Johnson report beneficial ownership of CLASS A COMMON STOCK of MILLROSE PROPERTIES INC REIT on a Schedule 13G. FMR LLC reports beneficial ownership of 8,229,447.34 shares, representing 5.3% of the class, with 8,208,953.17 shares having sole voting power and all 8,229,447.34 shares having sole dispositive power.
Abigail P. Johnson reports beneficial ownership, through FMR LLC and its subsidiaries, of 8,229,447.34 shares, or 5.3% of the class, with sole dispositive power but no voting power. One or more other persons have rights to receive dividends or sale proceeds from these shares, but no such person has an interest exceeding five percent of the outstanding CLASS A COMMON STOCK.