---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-235180"
form_type: "8-K"
ticker: "MRP"
cik: "0002017206"
company_name: "Millrose Properties, Inc."
filed_at: "2025-10-09T23:59:59+00:00"
generated_at: "2026-05-17T04:14:52.812054+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Millrose Properties reports preliminary Q3 2025 AFFO $122.5M ($0.74/share), rev $179.3M

## Summary
- Revenue $179.3M (Q3) and $411.0M (9M); net income $105.1M ($0.63/share).
- AFFO $122.5M ($0.74/share) adds back $11.8M accelerated amortization from delayed draw term loan payoff.
- Invested Capital $8.2B as of Sep 30, 2025; weighted average yield 9.1% (based on 3-month SOFR as of Jun 26, 2025).
- Homesite inventory $8.7B; book value $35.29 per share as of Sep 30, 2025.
- Full Q3 2025 results expected before market open on October 23, 2025.

## SEC filing metadata
- accession: 0001193125-25-235180
- form_type: 8-K
- ticker: MRP
- cik: 0002017206
- company_name: Millrose Properties, Inc.
- filed_at: 2025-10-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2017206/000119312525235180/0001193125-25-235180-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2017206/000119312525235180/d62880d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-235180
- JSON: https://secwatch.observer/filing/0001193125-25-235180.json
- Plain text: https://secwatch.observer/filing/0001193125-25-235180.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.