Millrose Properties Projects Q4 AFFO Between $0.82-$0.84 and Announces $250 Million Share Buyback
Millrose Properties, Inc. (MRP) has provided its fourth-quarter guidance, projecting Adjusted Funds From Operations (AFFO) per share to fall between $0.82 and $0.84. In a move to return value to shareholders, the company also announced the launch of a new $250 million share repurchase program. Despite facing high interest rates and a challenging broader housing market, CEO Darren Richman reported strong operational resilience. Management noted that as of September 30, customer retention remains exceptionally high with no walk-offs reported. The company is also currently reviewing a pilot program for its build-to-rent strategy.
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