Millrose Properties — Third Quarter 2026 Earnings Summary

Millrose Properties reported a record third quarter of 2026 with net income of $130 million, or $0.78 per share, and Adjusted Funds From Operations (AFFO) of $0.80 per share. The company raised its fourth quarter AFFO outlook to a range of $0.82 to $0.84 per share and authorized a new $250 million share repurchase program. Millrose expanded its counterparty base to 22 homebuilders and developers, redeploying $1.3 billion in land acquisitions and development funding while completing $1.1 billion in capital support for Dream Finders Homes' acquisition of Beazer Homes. Additionally, the company generated $0.8 billion in net cash proceeds from homesite sales and declared a quarterly dividend of $0.79 per share.