secwatch.observer — SEC 8-K summary
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Issuer:     Millrose Properties, Inc. (MRP)
CIK:        0002017206
Form:       8-K
Filed at:   2026-05-06T23:59:59+00:00
Accession:  0001193125-26-207650
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2017206/000119312526207650/0001193125-26-207650-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2017206/000119312526207650/ck0002017206-20260506.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-207650

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