Millrose Properties Q1: Net income $0.74/sh, AFFO $0.76; reaffirms FY2026 growth guidance

Millrose Properties, Inc.

2026-Q1 EPS reported $0.74 revenue$194,929,000

Net income $122.9M ($0.74/sh); AFFO $125.9M ($0.76/sh); total revenues $194.9M.
Expanded counterparty base to 17 homebuilders including top-10 national builder; redeployed $989M into land.
Converted credit facility to fully unsecured; added $500M delayed-draw term loan, total capacity $1.835B.
Reaffirms guidance: expects ~$1B deployment by mid-2026; FY2026 AFFO growth ~10% YoY; Q2 exit AFFO target $0.78-$0.80.
Portfolio: 143,000 homesites across 30 states; homesites under option $9.5B; zero option terminations since inception.

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