MRP on NYSE

Millrose Properties, Inc.

Millrose Properties, Inc. is a corporation incorporated under the laws of the State of Maryland on March 19, 2024 and later spun-off by Lennar.4 From its latest annual report

Price unavailable

Last updated Oct 19, 2026.

Overview

$600.5MRevenue, fiscal 20252
$379.9MNet income, fiscal 20252

Compare with Terreno Realty Corp, Urban Edge Properties or OFFICE PROPERTIES INCOME TRUST, or pick any stock.

  • TickerMRP on NYSE1
  • IndustryReal Estate1
  • HeadquartersChevy Chase, Maryland1
  • Incorporated inMD3
  • Business addressC/O Corporate Creations Network Inc., 2 Wisconsin Circle #700, Chevy Chase, Md 208153
  • Filer categoryNon-accelerated filer3

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Millrose Properties, Inc. is a corporation incorporated under the laws of the State of Maryland on March 19, 2024 and later spun-off by Lennar. The Spin-Off was completed on February 7, 2025, at which time we became an independent, publicly traded company and our Class A common stock was listed on the New York Stock Exchange under the symbol “MRP”.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

80.9%Operating margin2
63.3%Net margin2
6.5%Return on equity2

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Selling, general and admin4¢$25.0M
  • Other costs29¢$175.1M
  • Income tax3¢$20.5M
  • Profit63¢$379.9M

Out of $600.5M in revenue.2

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid8¢$298.8M
  • Kept or used elsewhere92¢$3.4B

Out of $3.7B of cash from operations.2

Financial statements

Operating income2$486.1M in 2025
-$400.0M-$200.0M0$200.0M$400.0M$600.0M2023: -$209.8M-$209.8M20232024: -$246.2M-$246.2M2024+17%2025: $486.1M$486.1M2025
Net income2$379.9M in 2025
-$400.0M-$200.0M0$200.0M$400.0M2023: -$209.8M-$209.8M20232024: -$246.2M-$246.2M2024+17%2025: $379.9M$379.9M2025

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2025-12-312024-12-312023-12-31
Option fee revenues$571.0M
Development loan income$29.5M$0$0
Total revenues$600.5M
Management fee expense$87.8M
Stock-based compensation expense$677.0K
Provision for credit loss expense$1.0M
Sales, general, and administrative expenses from pre-spin periods$25.0M$246.2M$209.8M
Total operating expenses$114.4M$246.2M$209.8M
Income (loss) from operations$486.1M-$246.2M-$209.8M
Interest income$7.7M
Interest expense-$91.8M
Other expenses-$1.6M
Total other income (expense)-$85.7M
Net income (loss) before income taxes$400.4M-$246.2M-$209.8M
Income tax expense$20.5M
Net income (loss)$379.9M-$246.2M-$209.8M
Adjustment for expenses from pre-spin periods$25.0M
Net income attributable to Millrose Properties, Inc. Common stockholders$404.8M-$246.2M-$209.8M
Basic earnings per share$2.44
Diluted earnings per share$2.44
Basic weighted average common shares outstanding166.0M shares
Diluted weighted average common shares outstanding166.0M shares

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Leadership

Who has led Millrose Properties, Inc., and when. Pick a name to see everywhere that person has worked.

Chief operating officer

  1. Robert Nitkin2025–now
Board members and other officers (15)

Filings

154 filings to the SEC since October 2021: 2 annual reports, 5 quarterly reports, 33 major events, 57 insider forms, 20 large holders, 37 other. The latest 20:

  1. Oct 6, 20268-K EDGAR
  2. Sep 23, 20268-K EDGAR
  3. Sep 23, 20268-K EDGAR
  4. Sep 22, 20268-K EDGAR
  5. Sep 21, 20268-K EDGAR
  6. Sep 1, 20268-K EDGAR
  7. Aug 10, 20264 EDGAR
  8. Aug 10, 20264 EDGAR
  9. Aug 6, 2026SCHEDULE 13G EDGAR
  10. Aug 5, 20268-K EDGAR
  11. Aug 4, 202610-Q EDGAR
  12. Aug 4, 20268-K EDGAR
  13. Jul 29, 2026SCHEDULE 13G/A EDGAR
  14. Jul 2, 2026SCHEDULE 13G/A EDGAR
  15. Jun 23, 20268-K EDGAR
  16. Jun 4, 2026SCHEDULE 13G/A EDGAR
  17. May 19, 20264 EDGAR
  18. May 19, 20268-K EDGAR
  19. May 13, 20264 EDGAR
  20. May 13, 20264 EDGAR

The 154 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

27 open-market trades by officers, directors and large owners since October 2021: 27 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 10, 2026Gorson Matthew B.DirectorBuy3,000$28.80$86.4KForm 4
Aug 7, 2026MIGOYA CARLOS A.DirectorBuy1,000$29.18$29.2KForm 4
May 18, 2026Gorson Matthew B.DirectorBuy4,500$26.97$121.4KForm 4
May 13, 2026Presa RachelGeneral Counsel and SecretaryBuy307$26.62$8.2KForm 4
May 12, 2026Nitkin RobertChief Operating OfficerBuy1,840$26.60$48.9KForm 4
May 11, 2026Presa RachelGeneral Counsel and SecretaryBuy725$27.18$19.7KForm 4
May 11, 2026Richman DarrenSee RemarksBuy235,000$27.31$6.4MForm 4
Mar 5, 2026Gorson Matthew B.DirectorBuy1,000$30.67$30.7KForm 4
Nov 26, 2025MIGOYA CARLOS A.DirectorBuy219Form 4
Nov 24, 2025Lynch Kathleen B.DirectorBuy1,860$31.74$59.0KForm 4
Nov 12, 2025MIGOYA CARLOS A.DirectorBuy1,000$32.24$32.2KForm 4
Oct 30, 2025Presa RachelGeneral Counsel and SecretaryBuy476$32.35$15.4KForm 4
Oct 29, 2025Gorson Matthew B.DirectorBuy2,500$32.69$81.7KForm 4
Oct 28, 2025BARTELS PATRICK J JRDirectorBuy7,500$32.52$243.9KForm 4
May 21, 2025Pasha AdilChief Technology OfficerBuy2,500$28.34$70.8KForm 4
May 20, 2025BARTELS PATRICK J JRDirectorBuy8,750$28.62$250.4KForm 4
May 19, 2025BARTELS PATRICK J JRDirectorBuy8,750$28.36$248.2KForm 4
May 19, 2025Gorson Matthew B.DirectorBuy7,500$28.24$211.8KForm 4
Mar 5, 2025Migoya Carlos ADirectorBuy3,458$22.45$77.6KForm 4
Mar 3, 2025Migoya Carlos ADirectorBuy3,259$22.89$74.6KForm 4

All 27 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.22,238,588$668.3M0.0%+1,625,089
Vanguard Portfolio Management LLC15,560,238$467.6M0.0%+710,776
Fmr LLC8,229,447$247.3M0.0%+1,702,571
Vanguard Capital Management LLC6,940,665$208.6M0.0%+11,634
State Street Corp6,824,473$205.1M0.0%+1,544,461
Brave Warrior Advisors, LLC6,030,725$181.2M3.9%−2,485,172
Manufacturers Life Insurance Company, The4,090,294$122.9M0.1%−212,656
Permian Investment Partners, LP3,977,316$119.5M13.6%+98,004
Norges Bank3,919,456$117.8M0.0%New
Cannell & Spears LLC3,703,408$111.3M2.0%+25,738
Geode Capital Management, LLC3,015,131$90.6M0.0%+8,623
Morgan Stanley2,694,759$81.0M0.0%+65,707
Invesco Ltd.2,444,906$73.5M0.0%+822,011
Charles Schwab Investment Management Inc2,398,402$72.1M0.0%+110,446
Aqr Capital Management LLC2,340,591$70.3M0.0%+1,449,576
Bank of New York Mellon Corp1,808,592$54.3M0.0%+531,921
Two Sigma Investments, LP1,443,419$43.4M0.0%−1,557,569
Mangrove Partners Im, LLC1,380,992$41.5M2.7%No change
Jupiter Asset Management Ltd1,330,020$40.0M0.2%+2,490
Nuveen, LLC1,304,305$39.2M0.0%−248,718
Northern Trust Corp1,287,521$38.7M0.0%+183,745
Goldman Sachs Group Inc1,070,936$32.2M0.0%+589,896
Gotham Asset Management, LLC1,049,494$31.5M0.1%−513,576
Principal Financial Group Inc997,638$30.0M0.0%−46,457
Jpmorgan Chase & Co965,221$29.8M0.0%−221,939

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

2 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Feb 24, 2025Jefferson ShreveRepublican, HouseExchange$1,001 - $15,000Report
Feb 24, 2025Jefferson ShreveRepublican, HouseSale$1,001 - $15,000+33.4%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

The numbers on this page point here. Each one links to the record it came from.

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