Quarterly ResultAug 4, 2026, 09:08 AM
Millrose Properties Q2 Net Income $125.9M; AFFO $0.77/Share
AI Summary
Millrose Properties reported strong second quarter 2026 financial results, with net income of $125.9 million, or $0.76 per share, and Adjusted Funds From Operations (AFFO) of $127.6 million, or $0.77 per share. The company declared its sixth consecutive quarterly dividend increase to $0.77 per share. Millrose continued its strategic expansion, redeploying $1.1 billion into land acquisitions and development funding, growing Invested Capital outside its Lennar Master Program Agreement to $2.8 billion, and expanding its counterparty base to 19 homebuilders and developers, including a new venture into multifamily assets.
Key Highlights
- Net income attributable to common shareholders was $125.9 million, or $0.76 per share.
- Adjusted Funds From Operations (AFFO) reached $127.6 million, or $0.77 per share.
- Declared a quarterly dividend of $0.77 per share, marking the sixth consecutive increase.
- Redeployed $1.1 billion into land acquisitions and development funding across the portfolio.
- Invested Capital outside Lennar MPA grew by $117 million to $2.8 billion.
- Generated $1.0 billion in net cash proceeds from homesite sales.
- Total assets stood at $9.7 billion with $1.4 billion in total liquidity.
- Expanded counterparty base to 19 homebuilders and developers, including multifamily assets.
Price Impact
More from MRP