Added to YB: 2025-04-15
Pitch date: 2025-02-27
MRP [bullish]
Millrose Properties, Inc.
+48.87%
current return
Author Info
No bio for this author
Company Info
Millrose Properties, Inc. is the premier homesite option platform for residential homebuilders. The company specializes in the acquisition and horizontal development of land to provide a predictable, just-in-time supply of finished homesites – the scarcest and mission-critical resource in the homebuilding industry.
Market Cap
$4.8B
Pitch Price
$20.00
Price Target
30.63 (+3%)
Dividend
10.44%
EV/EBITDA
N/A
P/E
N/A
EV/Sales
N/A
Sector
Specialized REITs
Category
dividend
Millrose Properties, Inc. - $MRP
MRP: Low-risk land REIT at 64% of book value post-spinoff. 11% yield, 100% payout. Lennar sole client, 8.5% fee. Plans to diversify, market rates 11-13%. Target 87.5% of book ($30.63), 38% upside. Potential 60-70% upside with capital deployment. Risks: land price decline, Lennar dependence. Catalysts: forced selling end, dividend start, diversification.
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