NYSE:MRPSpecialized REITs
Millrose Properties (MRP) Stock Looks Cheap With AFFO Covering Dividend
Millrose Properties stock only edged up 2.7% to US$29.41, yet the quarter reads more like a solid win than a shrug. A company often viewed mainly as a high yield story just printed adjusted funds from operations of US$127.6 million, or US$0.77 per share, and lifted its dividend to US$0.77. That means an 8.8% cash yield on book equity while the shares still trade below book at US$29.41 versus book value of US$35.24. The gap between price and operating momentum is what matters for you now.
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