Why Millrose Properties (MRP) Stands Out Among 2025 Spin-Offs

Millrose Properties Inc. (NYSE:MRP) is among the spin-off companies in 2025. Millrose was previously a wholly owned subsidiary of Lennar Corp. (NYSE:LEN), which, on February 7, 2025, completed the spin-off of Millrose, distributing approximately 80% of Millrose’s stock to its stockholders. After this transaction, MRP became an independent company listed on the NYSE.

As part of the Spin-Off, Lennar contributed $5.5 billion in land assets, including approximately 87,000 homesites, and $1 billion in cash to the company. However, it retained approximately 20% of Milrose’s outstanding common stock.

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In a vote of confidence, on December 2, BTIG analyst Ryan Gilbert initiated coverage on Millrose Properties Inc. (NYSE:MRP) with a Buy recommendation and a price target of $35, according to The Fly. The initiation was part of Gilbert’s industry initiation note on the homebuilding and real estate services sector, and the analyst believes Milrose stock is “cheap relative to the opportunity.” Moreover, his positive thesis was based on the belief that the company can provide builders with a “compelling rate, both due to its cost of capital advantages and services via its technology platform.”

Additionally, on December 22, the company announced a quarterly cash dividend of approximately $124.5 million, or $0.75 per share, which exceeded the $0.73 per share paid in October. The record date for the dividends is January 5, 2026, and they will be payable on January 15.

Since its spin-off and subsequent listing, the company’s stock has performed strongly, rising 41%.

Millrose Properties Inc. (NYSE:MRP) is a Homesite Option Purchase Platform (HOPP’R) for residential homebuilders. The company purchases and develops residential land and sells finished homesites back to homebuilders through option contracts with pre-agreed prices and a set schedule.

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Disclosure: None. This article is originally published at Insider Monkey.