Millrose Properties (MRP)
Consumer Discretionary · Residential land banking and homesite options · NYSE
A REIT that land banks residential homesites and monetizes them through recurring option payments to homebuilders, combining steady cash flow with disciplined risk mitigation.
What Millrose Properties does
Millrose Properties is a real estate investment trust (REIT) that operates a homesite option platform, acquiring residential land assets and granting homebuilders non-refundable purchase options to buy the properties at future dates. The company generates recurring revenue through option payments from homebuilders who maintain rights to purchase optioned homesites, while mitigating duration and development risk through pooling arrangements, cost guarantees, and strategic partnerships with homebuilders including Lennar and other major consolidators.
Themes: land banking, homebuilding supply chain, real estate development financing
Fundamentals
- Price$30.39 as of 2026-08-21 close
- 1-year return-8.8% 2025-08-21 close $33.34 → 2026-08-21 close $30.39
- P/En/a earnings data not available
- Beta0.17 as of 2026-08-24
- Last reported earnings2026-08-04 SEC EDGAR Form 8-K (Item 2.02)
Dividend: at least 1 years of non-decreasing per-share dividends (SEC XBRL) — we do not hold the year before it, so the real streak may be longer.
Dividend coverage (FY2025)
Covered by reported results. In FY2025, MRP's dividend was covered by reported results (earnings payout 79%, operating-cash-flow payout 8%). This describes past coverage, not a forecast.
- Earnings payout79% dividends / net income
- Operating-cash-flow payout8% dividends / operating cash flow — capital spending was not reported, so this does not subtract it
Coverage derived from reported SEC EDGAR XBRL figures for FY2025 (dividends paid vs. net income and free cash flow, same fiscal year). This describes PAST coverage for one fiscal year — it does not predict whether a dividend will be maintained, raised, or cut, and a one-year payout ratio can be distorted by non-recurring items. Informational only — not financial advice.
How Millrose Properties looks technically
Millrose Properties (MRP) is trading 1.6% above its 200-day average, the long-term trend line — a longer-term uptrend. Its 50-day average crossed below its 200-day average about 130 trading days ago — a "death cross", a bearish long-term signal. There is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 19, below the 25 that marks a real trend), though buyers have been pushing harder than sellers lately — pressure, not a trend. Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 61, neither overbought (above 70) nor oversold (below 30). It made a new 20-day high about 2 trading days ago. It is 15.6% below its highest point of the past year.
Trend
8
| Distance from the 200-day | it is trading 1.6% above its 200-day average, the long-term trend line — a longer-term uptrend | +1.6% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $29.12 | $29.12 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $29.90 | $29.90 |
| Swing structure | its recent peaks and dips disagree — one of them is rising while the other is not, so there is no clean up or down pattern in the swings | mixed — one of the two is not confirming |
| Last swing turn | its last significant turn was a swing high 16 calendar days ago — the swings before that are what the structure reading is measured on | 16 sessions |
| Since the 50/200 cross | its 50-day average crossed below its 200-day average about 130 trading days ago — a "death cross", a bearish long-term signal | 130 sessions |
| Above the 200-day after a dip | it recently dipped to its 200-day average (the long-term trend line) and has since climbed back above it — now about 1.6% above | +1.6% |
| Trend strength (14-day ADX) | there is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 19, below the 25 that marks a real trend), though buyers have been pushing harder than sellers lately — pressure, not a trend | 18.7 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 61, neither overbought (above 70) nor oversold (below 30) | 61.0 |
|---|---|---|
| Position in its 14-day range | it is trading near the top of its 14-day range ($28.10 to $30.74) — its "stochastic" reading is 87 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been slipping within that range over the last few sessions. | 86.7 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, is in positive territory (momentum leaning bullish) | 14 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $36.00 | $36.00 |
|---|---|---|
| From the 52-week high | it is 15.6% below its 52-week high (its highest price of the past year) | -15.6% |
| Above the 52-week low | it is 15.6% above its 52-week low (its lowest price of the past year) | +15.6% |
| Below the 52-week high | it is 15.6% below its highest point of the past year | 15.6% |
| Since a 20-day breakout | it made a new 20-day high about 2 trading days ago | 2 sessions |
| Since a 55-day breakout | it is trading within its recent 55-day range, with no fresh breakout up or down | 0 sessions |
| All-time high | its highest closing price on record is $36.00 (set on 2025-08-28) | $36.00 |
| Given back of the 52-week move | over the past year its closes ranged ($26.60 to $35.50), and it has recovered roughly a third of its fall from last year’s high — 43% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $32.10 to $32.38. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 42.6% |
| From the all-time high | it is 15.6% below its all-time high | -15.6% |
| Nearest price level | it is trading 1.4% above a support level at $29.98 — a price it turned at 7 times since 2025-08-01, most recently on 2026-08-05. Since 2025-02-07 it has 5 such levels below the current price and 3 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | -1.4% |
| All-time low | its lowest closing price on record is $21.02 (set on 2025-03-13) | $21.02 |
| Above the all-time low | it is 44.6% above its all-time low | +44.6% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are about average versus its own recent 6-month history | 50th percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $0.6014 between its high and its low — about 2.0% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $0.6014 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $27.63 and $31.05 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $27.63 – $29.34 – $31.05 |
| Typical daily range (% of price) | its price moves about 2.0% in a typical session — among the calmest in the catalog. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 2.0% |
| Stretch from the 200-day average | it is trading 0.8 daily ranges above its 200-day average price (1.6% above it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 0.8 daily ranges above its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 0.95× |
|---|
Analyst
2
| Change in the average price target | analysts' average price target is unchanged from the prior reading | 0.0% |
|---|---|---|
| Change in the consensus rating | the analyst consensus rating is unchanged since the prior reading | unchanged |
Candlestick patterns
1
| Since a bearish engulfing | today it opened above the previous session's close and finished below that session's open — a "bearish engulfing" pair, where one down day more than undid the up day before it | today |
|---|
Price gaps
3
| Gap at the open | it opened on 2026-08-21 0.2% above the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and traded back through that level before the close | +0.2% |
|---|---|---|
| Open gap | it gapped 5.4% above the previous close 51 sessions ago and has not traded back through the level it left behind at 27.63 — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed | +5.4% |
| Gap filled | a 2.6% gap down opened on 2026-07-06 has been "filled" 25 sessions ago — price traded back through the level the gap left behind, and it took 9 sessions to close | 25 sessions ago |
Price streaks
1
| Closing streak | it closed lower in its latest session, after a session that did not close lower — a single down day rather than a run | 1 session down |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock beat the market by 4.8 percentage points (the stock gained 7.2% while the market gained 2.3%) | +4.8% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock beat the market by 7.2 percentage points (the stock gained 10.3% while the market gained 3.1%) | +7.2% |
| vs market, 6 months | over the past 6 months this stock lagged the market by 13.2 percentage points (the stock lost 2.1% while the market gained 11.1%) | -13.2% |
| vs market, 12 months | over the past 12 months this stock lagged the market by 29.3 percentage points (the stock lost 8.8% while the market gained 20.5%) | -29.3% |
Signal agreement
2
| Bullish technical signals | 4 of the 9 technical signals we can compute for it are currently in a bullish state: trading above its 200-day average, a fresh 20-day high, MACD momentum is positive, trading above the Ichimoku cloud — these describe past price behaviour, not a forecast | 4 of 9 |
|---|---|---|
| Bearish technical signals | 3 of the 9 technical signals we can compute for it are currently in a bearish state: a "death cross" — its 50-day average is below its 200-day, lagging the market over 6 months, near the top of its 14-day range (overbought) — these describe past price behaviour, not a forecast | 3 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 4.2% above the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-07-16 and projected forward over today's price, the side traders read as an established uptrend, with the band below acting as the level that would have to give way. The band itself is thin, spanning 0.9% of the share price, which is taken to mean a barrier that gives way easily. | +4.2% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 3% above the average price paid so far this year, so the typical buyer over that stretch is showing a gain. That average is $29.38 — a volume-weighted average of daily closes over 150 sessions, not a true tick-by-tick VWAP. | +3.4% |
|---|---|---|
| Vs the average paid since it last reported | the price is 2% above the average price paid since it last reported on 2026-08-04 (its 10-Q), so the typical buyer over that stretch is showing a gain. That average is $29.75 — a volume-weighted average of daily closes over 14 sessions, not a true tick-by-tick VWAP. | +2.1% |
Price levels it has turned at before
MRP last closed at $30.39 on 2026-08-21. Since 2025-02-07 it has turned at 5 prices below its last close and 3 above; the 3 nearest below and the 3 nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $29.98 | Support | 1.4% below the last close | turned there 7 times · 2025-08-01 to 2026-08-05 |
| $31.18 | Resistance | 2.6% above the last close | turned there 9 times · 2025-07-23 to 2026-06-29 |
| $29.01 | Support | 4.5% below the last close | turned there four times · 2025-05-21 to 2026-01-30 |
| $32.36 | Resistance | 6.5% above the last close | turned there five times · 2025-11-12 to 2026-02-27 |
| $28.32 | Support | 6.8% below the last close | turned there twice · 2026-01-06 to 2026-03-12 |
| $33.66 | Resistance | 10.8% above the last close | turned there twice · 2025-09-08 to 2025-10-23 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
No Elliott-wave labelling currently fits its swings: the recent highs and lows do not satisfy the three rules a five-wave count has to obey, so there is no count to show rather than a count we are unsure about.
Read from daily closes as of 2026-08-21.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Near 200-day moving-average support · Trading above the 200-day moving average · Broke out to a new 20-day high · trendless / choppy (low ADX) · lagging the market · Printed a bearish engulfing pair | Learn: moving average · golden cross · adx · rsi · breakout · fifty two week high low
Based on daily closing prices as of 2026-08-21. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingStrong Buy (1.20 mean, 1=Strong Buy…5=Strong Sell) — 5 analysts
- Mean price target$37.60 range $35.00 – $40.00; median $38.00
Analyst estimates, as of 2026-08-22. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for MRP
- Consensus EPS estimate$0.7933 next reporting period, as of 2026-08-22
Change over time is not available yet: it needs two readings of the same reporting period at least 30 days apart, and we have been recording these estimates since 2026-08-04. An estimate for a DIFFERENT quarter is not a revision, so a reading from before the last report is never compared with one after it.
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["Housing market volatility and real estate market downturns could adversely affect counterparty demand.","Reliance on homebuilder counterparties to perform under purchase option agreements and construction contracts.","Concentration risk and reliance on the Manager (Kennedy Lewis) for investment sourcing and management."]
What changed in the latest 10-Q
AI-assisted comparison of MRP's 10-Q filed 2026-05-06 against the prior one filed 2025-10-23.
Management's Discussion & Analysis (MD&A)
- Reworded:
- Page number for 'Management's Discussion and Analysis of Financial Condition and Results of Operations' changed from 26 (filed 2025-10-23) to 21 (filed 2026-05-06)
- Page number for 'Quantitative and Qualitative Disclosures About Market Risk' changed from 43 (filed 2025-10-23) to 35 (filed 2026-05-06)
- Page number for 'Controls and Procedures' changed from 44 (filed 2025-10-23) to 36 (filed 2026-05-06)
- Page number for 'Legal Proceedings' changed from 45 (filed 2025-10-23) to 37 (filed 2026-05-06)
- Notes:
- These are table of contents entries only; substantive content of these sections was not provided for comparison
- Page number changes may reflect different document length or formatting, not necessarily content changes
Risk Factors
- Added:
- Newer filing (2026-05-06) references Form 10-K for year ended December 31, 2025, filed March 2, 2026, whereas older filing (2025-10-23) references Item 1A Risk Factors of the Form 10-Q itself
- Newer filing Balance Sheet shows March 31, 2026 and December 31, 2025 comparison dates; older filing shows September 30, 2025 and December 31, 2024
- Newer filing Balance Sheet line item 'Homesites under option contracts' ($9,177,273 at March 31, 2026); older filing uses 'Inventories' with subcategories (Homesite inventory, Land and land under development, Finished homesites)
- Newer filing includes 'Option fee receivables' removed from Balance Sheet line items shown in older filing
- Newer filing Statements of Operations covers three months ended March 31, 2026 and 2025; older filing covers three months and nine months ended September 30, 2025 and 2024
- Newer filing shows 'Provision for credit loss expense' at $0 for both periods; older filing shows $340 thousand for three and nine months ended September 30, 2025
- Newer filing Cash Flows statement covers three months ended March 31, 2026 and 2025; older filing covers same periods but with different comparative periods
- Newer filing shows dividend of $0.76 per share for three months ended March 31, 2026; older filing shows $0.38 per share for three months ended March 31, 2025
- Removed:
- Older filing presentation note 'PRESENTATION OF FINANCIAL AND OPERATING DATA' explaining financial information prior to February 7, 2025 Spin-Off was that of Lennar Corporation not present in newer filing
- Older filing includes separate Balance Sheet line items 'Land and land under development' and 'Finished homesites' not presented in newer filing
- Older filing includes 'Accounts payable and accrued expenses' ($282,730 at December 31, 2024) as separate line item not shown in newer filing
- Older filing includes 'Option fee receivables' as separate Balance Sheet line item ($58,236 at September 30, 2025) not shown in newer filing
- Older filing includes footnotes (1) and (2) explaining weighted average shares and RSU grants not present in newer filing
- Reworded:
- Older filing references 'this Form 10-Q' for risk factors discussion; newer filing references specific Form 10-K filed March 2, 2026
- Balance Sheet presentation changed from detailed inventory breakdown (Homesite inventory, Land and land under development, Finished homesites) to single line 'Homesites under option contracts'
- Stockholders' equity statement caption changed from detailed layout showing 'Pre-Spin Predecessors Equity' column in older filing to simpler presentation in newer filing
- Notes:
- Older filing text appears truncated at end of Stockholders' Equity table; comparison of nine-month periods may be incomplete
- Different reporting periods (Q1 2026 vs Q3 2025) make year-over-year comparisons limited
- Financial statement presentation and organizational structure differ between filings, suggesting different reporting periods and company maturity stages post-spinoff
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
2 open-market purchases and 0 open-market sales by insiders in the last 90 days.
- Last 30 days2 buys ($115580) · 0 sells — 2 buying insiders
- Last 90 days2 buys ($115580) · 0 sells — 2 buying insiders
- Last 180 days9 buys ($7M) · 0 sells — 5 buying insiders
Cluster buying: 4 different insiders reported open-market purchases (SEC code P) of MRP within a 30-day window between 2026-05-11 and 2026-05-18. Disclosed Form 4 activity, not a prediction of performance or a buy signal.
Activity heuristic: net buying (a transparent product heuristic from the counts above, not a prediction or advice)
Most recent open-market transaction: 2026-08-10. As of 2026-08-24.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about MRP's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Congressional trading disclosures
U.S. House members publicly disclose their own, their spouse's, and dependent children's stock transactions under the STOCK Act. We hold 2 matched disclosures for MRP from U.S. House Clerk Periodic Transaction Report filings.
Congressional trading disclosures →Short interest (FINRA)
MRP had 7,024,875 shares of reported short interest as of the 2026-07-31 FINRA settlement date (delayed, bi-monthly; not real-time).
Short interest as a percent of shares outstanding is not shown for MRP because we do not hold a verified share count to divide it by. The reported figures above are unaffected.
- Reported short interest (shares) 7,024,875
- Prior settlement (shares) 7,916,362
- Reported change -11.26%
- Days to cover (reported) 6.25
Reported to FINRA as of the 2026-07-31 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- Forestar Group (FOR)
- Landsea Homes (LSEA)
- The New Home Company
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
Compare MRP vs…
Frequently asked questions
What does Millrose Properties (MRP) do?
Millrose Properties is a real estate investment trust (REIT) that operates a homesite option platform, acquiring residential land assets and granting homebuilders non-refundable purchase options to buy the properties at future dates. The company generates recurring revenue through option payments from homebuilders who maintain rights to purchase optioned homesites, while mitigating duration and development risk through pooling arrangements, cost guarantees, and strategic partnerships with…
What sector is Millrose Properties (MRP) in?
Millrose Properties (MRP) is classified in the Consumer Discretionary sector. Its industry is Residential land banking and homesite options. It trades on NYSE.
Who are Millrose Properties's (MRP) competitors?
Notable peers of Millrose Properties (MRP) include Forestar Group, Landsea Homes and The New Home Company. This peer set is informational only — not financial advice.
Has there been recent Congressional stock trading in MRP?
Yes — we hold 2 matched STOCK Act disclosures for MRP from U.S. House Clerk Periodic Transaction Report filings. These are legally-required disclosures (often filed 30–45 days after the trade), may belong to a U.S. House member, their spouse, or a dependent child, and are not an indicator of company performance or investment advice.
Is Millrose Properties (MRP) overbought or oversold right now?
Millrose Properties (MRP) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 61, in the neutral middle (as of 2026-08-21). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on MRP come from?
Fundamentals and prices come from market data, as of 2026-08-24; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: market data, as of 2026-08-24. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-08-21.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.