MRP - Millrose Properties: Book Value Remains A Likely Ceiling
2025-10-23 21:31:00 ET
Shares of Millrose Properties ( MRP ) have been an excellent performer since spinning out of Lennar ( LEN ) earlier this year, with the stock up 34% over just the past six months. The company continues to benefit from demand by homebuilders to keep their balance sheets capital light and option land through Millrose rather than own it outright themselves. I last covered shares in June , when I rated the stock a “hold” as I felt upside was becoming more limited. In hindsight, this was premature, as the stock has gained a further 16%, exceeding the market’s 10% rally. With updated financials and such strong performance, now is a good time to revisit Millrose....
Millrose Properties: Book Value Remains A Likely Ceiling