{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-073913","form_type":"8-K","ticker":"MRP","cik":"0002017206","company_name":"Millrose Properties, Inc.","filed_at":"2026-02-26T23:59:59+00:00","discovered_at":"2026-05-14T18:02:36.998977+00:00","generated_at":"2026-05-15T23:51:38.109615+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Millrose Q4 AFFO $0.76; FY2025 net income $2.44/share; $2B deployment 2026","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-073913","json":"https://secwatch.observer/filing/0001193125-26-073913.json","markdown":"https://secwatch.observer/filing/0001193125-26-073913.md","text":"https://secwatch.observer/filing/0001193125-26-073913.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/2017206/000119312526073913/0001193125-26-073913-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/2017206/000119312526073913/ck0002017206-20260226.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T23:51:38.109615+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}