Millrose Q4 AFFO $0.76; FY2025 net income $2.44/share; $2B deployment 2026

Millrose Properties, Inc.

2025-FY EPS reported $2.44 revenue$600,461,000

Q4 total revenues $189.5M, AFFO $0.76/share; full-year revenues $600.5M, AFFO $2.58/share.
Invested capital outside Lennar reached $2.4B, surpassing $2.2B stretch target; zero option terminations across portfolio.
Portfolio yield expanded 70bps to 9.2%; non-Lennar investments yield ~11.0%; 15 builder counterparties, 142k homesites.
2026 outlook: up to $2B net new capital deployment, targeting Q2 exit AFFO $0.78–$0.80/share, ~10% AFFO growth.
Debt-to-capital 26% ($2.1B debt); $1.3B liquidity; no near-term maturities; $0.75/share dividend paid Jan 15, 2026.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.