Millrose Properties Stock Has Surged 48% Since February Debut — So Why Did One Investor Sell a $23 Million Stake?

14 hours ago 6

Jonathan Ponciano, The Motley Fool

Sun, December 7, 2025 astatine 12:35 PM CST 5 min read

New York City-based Newtyn Management sold 807,135 shares of Millrose Properties, reducing its presumption by $23 cardinal successful the 3rd quarter.
The transaction represented astir 2.8% of reported 13F assets nether management.
The determination marked an exit for Newtyn, which reported holding nary shares of Millrose Properties arsenic of September 30.
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On November 14, New York City-based Newtyn Management disclosed successful a U.S. Securities and Exchange Commission filing that it sold retired its full Millrose Properties (NYSE:MRP) stake, a determination valued astatine astir $23 million.

According to an SEC filing connected November 14, Newtyn Management exited its full holding successful Millrose Properties, selling 807,135 shares. The estimated worth of the commercialized was $23 cardinal based connected reported quarterly mean prices. The presumption was antecedently 3.5% of the extremity of the 2nd quarter.

Top holdings aft the filing:

NASDAQ:INDV: $101.3 cardinal (12.4% of AUM)
NASDAQ:QDEL: $79.5 cardinal (9.7% of AUM)
NASDAQ:TBPH: $72.3 cardinal (8.8% of AUM)
NYSE:AD: $67.5 cardinal (8.3% of AUM)
NYSE:CNNE: $62.5 cardinal (7.6% of AUM)

As of Friday, MRP shares were priced astatine $31.71, up 47.5% since its February spin-off.

Metric

Value

Market capitalization	$5.3 billion
Revenue (TTM)	$411 million
Net income (TTM)	$191.8 million
Dividend yield	5.7%

Millrose Properties operates a Homesite Option Purchase Platform (HOPP'R), facilitating residential onshore banking and providing homebuilders with capital-efficient entree to controlled onshore positions.
Primary customers see organization and large-scale homebuilders seeking flexible onshore acquisition strategies successful the U.S. residential existent property market.
The institution is positioned arsenic a differentiated spouse successful the residential REIT sector, focusing connected recurring gross and superior efficiency.

Millrose Properties specializes successful residential existent property solutions, leveraging its HOPP'R level to alteration homebuilders to efficiently unafraid onshore for aboriginal development. The company's strategy centers connected providing investors with entree to income-generating, existent estate-backed opportunities traditionally constricted to organization participants.

Even with shares rallying since their February spin-off, Millrose Properties’ latest results amusement wherefore immoderate investors whitethorn inactive beryllium rotating vulnerability alternatively than exiting connected concerns. Millrose is scaling astatine a gait antithetic for a recently listed residential-land platform, redeploying superior arsenic accelerated arsenic it recycles it, and producing predictable, contract-based currency flow. For semipermanent investors, the operation of rising guidance, strengthened liquidity, and accelerating non-Lennar partnerships helps clarify the company’s trajectory arsenic it transitions afloat into its post-spin identity.

The portfolio has expanded meaningfully: Millrose generated $852 cardinal successful nett homesite merchantability proceeds, including $766 cardinal from Lennar, and redeployed $858 cardinal backmost into Lennar-related onshore acquisitions successful the 3rd quarter. Under different builder agreements, backing reached $770 million, lifting invested superior extracurricular Lennar to $1.8 billion, astatine an charismatic 11.3% weighted-average yield. Management besides completed $2 cardinal successful elder notes offerings, eliminating near-term maturities and boosting liquidity to $1.6 billion.

For semipermanent investors, the takeaway is that Millrose is behaving little similar a fragile spin-off and much similar a maturing capital-recycling engine: high-yielding assets, beardown liquidity, and secular request from nationalist builders. And each of this to accidental it doesn't look antithetic for a money to fastener successful profits present and reallocate to ideas with much upside.