MRP Millrose Properties, Inc.

$MRP nice to see the Dream/Beazer deal set to close by Oct 20! This will be a large influx of new residential lots ($1.25B worth) and should propel our earnings significantly higher. This is very good news!

$MRP so let’s do some fun math assuming the stock trades around $25. 1. Book value is $35.24 so you have a 29% discount to book value. 2. Mgt expects 82 to 84 cents in AFFO in Q4 which moves the quarterly dividend to 83 cents. $3.32 annually = 13.28% yield 3. I expect AFFO to start 2027 around 85 cents in Q1 and get close to $1 by Q4. Let’s put the dividend at $3.60 for 2027 and $4+ in 2028 4. Let’s say mgt buys back 10M shares - that has an associated dividend of $36M in 2027 which now gets spread to the reduced 156M shares outstanding (after the 10M share buyback).That essentially boosts the dividend by 23 cents per share . Now you are at $3.83 in 2027 to $4.23 in 2028. In my opinion this is an incredible core holding for any investor!! Do your own DD.

$MRP Time for the pause that refreshes. Daredevils who bought at the bottom are collecting 14% dividends. I thank my lucky stars I've been watching the fall since Oct 2 I'm stuffed can't eat another share

$MRP Excellent earnings report. Guidance raised. Need clarification of Rental Program on call. One time thing or new business?

$MRP hmm interesting set up with 8.3 million shares short, high institutional ownership (BlackRock and Vanguard alone hold 24.5% of the stock), huge discount to book, and strong earnings momentum with the Dream/Beazer merger now closed. Do your own due diligence but seems like a really nice entry point here.

$MRP We're gonna get sued up the ying yang but that's typical. This too shall pass. Lots of good articles on Seeking Alpha that say we're going to be okay

$MRP Reported today: EPS of $0.78 vs. $0.77 expected (+0.9%, beat). Revenue of $211M vs. $205M expected (+2.8%, beat). I used Stock Meadow’s earnings dashboard to review the results.

$MRP great earnings call today with lots of color from management dispelling the rumors circulating around their home rental initiative. Their rental model is innovative in its potential to create an opportunity for entry level homebuyers to build a bridge to homeownership. It sounds like managment is looking at it as a way to make money with excellent return profiles for shareholders and do good for the community’s they serve simultaneously. Like these guys and their approach to business, kudos to managment.

$MRP well, I’ll say this. Management seems top notch and handled analyst questions beautifully. I was happy to add on the dip. One of the most well spoken management teams I have ever heard, and I’ve heard a lot.

$MRP I like buybacks but saying the mkt overvalues our yield, and we want to correct that by buybacks below book value is a strange thing to say.

$MRP Will Millrose's first $250M buyback get used while it also funds a $333M rental-home pilot, $120M of it from its own balance sheet? 🏢 Millrose Properties, a homesite option platform that buys and develops land for homebuilders such as Lennar, bought 1,233 completed single-family homes from Lennar for about $333M, funded with about $120M of its own capital and $213M of limited-recourse secured financing; its market value is roughly $3.97B at $23.91 (16:00 ET, October 26, 2026) 🏆 On the other side, the company says the homes were underwritten as a standalone rental investment, they make up about 3% of its $10.6B in total assets, and Q3 net income was a record $130.0M, or $0.78 a share 📅 Next: The conference call is today, October 27 at 10:00 AM Eastern Time; watch for the pace of buybacks and any plan for more rental-home purchases Source: SEC 8-K and Q3 release, Oct 27

$MRP Q3 '26 Earnings Results & Recap • Reported GAAP EPS of $0.78 up 23.81% YoY • Reported revenue of $211M up 17.71% YoY • Millrose Properties raised its year-end 2026 Adjusted Funds from Operations (AFFO) quarterly run-rate outlook to $0.82 to $0.84 per share; it cannot provide a GAAP reconciliation without unreasonable efforts.

$MRP Holy tacos this is gnarly. Even though I’m skeptical of housing in such an environment it’s getting a wee bit over done here.

$MRP I hope no one fell for the air pocket this am. I added at -0.33 knew it was the tute rug pull so they can get in

$MRP So this is the ponzi arm of $LEN where they sell homes to themselves and report it as income.