---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-207650"
form_type: "8-K"
ticker: "MRP"
cik: "0002017206"
company_name: "Millrose Properties, Inc."
filed_at: "2026-05-06T23:59:59+00:00"
generated_at: "2026-05-14T22:58:04.047219+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-26-207650
- form_type: 8-K
- ticker: MRP
- cik: 0002017206
- company_name: Millrose Properties, Inc.
- filed_at: 2026-05-06T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2017206/000119312526207650/0001193125-26-207650-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2017206/000119312526207650/ck0002017206-20260506.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-207650
- JSON: https://secwatch.observer/filing/0001193125-26-207650.json
- Plain text: https://secwatch.observer/filing/0001193125-26-207650.txt

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