Earnings Releases·Oct 27, 2026, 8:15 AM ET

Millrose Properties — Third Quarter 2026 Earnings Summary

Reported net income of $130.0 million ($0.78 per share) and AFFO of $133.5 million ($0.80 per share), both up year-over-year, with total revenues reaching $211.0 million.
Raised fourth quarter 2026 AFFO guidance to $0.82–$0.84 per share and declared a quarterly dividend of $0.79 per share.
Executed $1.0 billion in senior notes issuance and authorized a new $250 million share repurchase program while redeploying $1.3 billion into land acquisitions and development funding.
Finalized $1.1 billion in capital support for the Dream Finders Homes/Beazer Homes acquisition, expanding the counterparty base to 22 relationships and launching a single-family rental pilot.
Total assets grew to $10.6 billion with a debt-to-capitalization ratio of 36%, while liquidity stood at $0.8 billion.