NYSE: MRP · Residential REITs
Millrose Properties (MRP) fair value and price range
As of 31 Oct 2026, Faircurve's model values Millrose Properties (MRP) at $31.23 a share. The stock last closed at $25.90, which puts the model's fair value 20.6% above the price. The model grades the evidence behind this valuation as low, so no verdict is shown. For real estate investment trusts (REITs) the grade looks at the dividend record: at least three years of paid dividends with no cut. It does not say how likely the fair value is to be right.
Revalued . Price is the close of 3 Nov 2026. Millrose Properties, Inc.
The report adds the live price, the price chart and the next earnings date. No account needed.
This week, in three parts
What happenedThe run of 31 Oct 2026 moved the fair value from $39.34 to $31.23 (-20.6%). The model does not yet explain moves on this valuation method.
What the model makes of itThe price of $25.90 is 20.6% below it. The model grades the evidence behind this valuation as low, so no verdict is shown. For real estate investment trusts (REITs) the grade looks at the dividend record: at least three years of paid dividends with no cut. It does not say how likely the fair value is to be right.
What's nextReports on 11 Nov 2026. The next weekly run is on Saturday 7 Nov 2026.
What price range does the model give MRP?
The calibrated range for MRP over 63 trading days is $25.30 to $37.30. There is no live options data for this stock, so the range is built from the fair value and calibrated weekly against realised prices (n = 10,454 past valuations, refreshed 31 Oct 2026). Ranges built this way held the price 60% of the time at this horizon.
The model's own range is $28.94 to $33.61.
Faircurve Insights · 31 Oct 2026
Millrose Properties, Inc. is the premier permanent capital solution for residential homebuilders and developers. It specialises in the acquisition, financing and development of residential land through long-term, capital-efficient structures.
Faircurve's model put the fair value at $31.23 a share on 31 Oct 2026. The previous run, on 24 Oct 2026, gave $39.34, so the fair value moved -20.6%. The model's own reason is that it does not yet explain moves on this valuation method. The calibrated range over 63 trading days is $25.30 to $37.30. It is built from the fair value, because there is no live options data for the stock, and it is calibrated weekly against realised prices. Ranges built this way held the price 60% of the time at this horizon. The model grades the evidence behind this valuation as low, so no verdict is shown. For real estate investment trusts, the grade looks at the dividend record, and it does not say whether the fair value is right.
This note has no quality score for the business against its peers, so it gives no overall score and no factor measures. The model compares the company with Independence Realty Trust, Inc. (IRT), Camden Property Trust (CPT), American Homes 4 Rent (AMH), UDR, Inc. (UDR), Equity LifeStyle Properties, Inc. (ELS), Mid-America Apartment Communities, Inc. (MAA), Invitation Homes Inc. (INVH) and Centerspace (CSR). Each has a fair value of its own on the site. Faircurve first valued the company on 11 Jul 2026.
Written from the figures on this page for the 31 Oct 2026 valuation and checked by rule before publishing: every number is one printed here, no forecast, no instruction. The price, the gap and the verdict are the page's own and change daily. Not a recommendation.
The Global Pulse
Faircurve's note after each US session, in your inbox. No account needed.
When does MRP report earnings, and how has the stock reacted?
Millrose Properties's next earnings report is scheduled for 11 Nov 2026. Companies can move their dates.
Around its last 7 reports: what the options market priced, and what followed
Each move runs from the last close before the report to the first close after it, so it covers companies that report before the open and after the close. The median size across MRP's last 7 reports, ignoring direction, was 2.0%.
How does MRP compare with similar companies?
The companies in residential reits closest to Millrose Properties in market value, each on the same model and the same date.
| Company | Last close | Model fair value | Gap | Model verdict |
|---|---|---|---|---|
| IRT Independence Realty Trust, Inc. | $14.81 | $12.45 | -15.9% | Overvalued |
| CPT Camden Property Trust | $100.68 | $84.42 | -16.2% | Overvalued |
| AMH American Homes 4 Rent | $31.52 | $33.35 | +5.8% | Fairly valued |
| UDR UDR, Inc. | $35.93 | $36.93 | +2.8% | Fairly valued |
| ELS Equity LifeStyle Properties, Inc. | $60.30 | $43.90 | -27.2% | Overvalued |
| MAA Mid-America Apartment Communities, Inc. | $117.34 | $122.85 | +4.7% | Fairly valued |
| INVH Invitation Homes Inc. | $26.60 | $29.37 | +10.4% | Undervalued |
| CSR Centerspace | $57.26 | $69.06 | +20.6% | Undervalued |
Millrose Properties at a glance
Millrose Properties, Inc. is the premier permanent capital solution for residential homebuilders and developers. The company specializes in the acquisition, financing and development of residential land through long-term, capital-efficient structures.
- Market value
- $4.0B
- Sector
- Real Estate
- Industry
- Residential REITs
- Beta to the US market
- 0.47
- First valued by Faircurve
- 11 Jul 2026
How the fair value is worked out: the model values Millrose Properties three ways and blends them; the range around the fair value comes from 2,000 simulations of the dividend model. The full method is documented here.
What changed in the latest valuation?
On 24 Oct 2026 the model's fair value for MRP was $39.34. As of 31 Oct 2026 it is $31.23, a change of -20.6%. The model does not yet explain moves on this valuation method. The model revalues every stock it covers each week, and again after an earnings report.
Questions about Millrose Properties's valuation
Is Millrose Properties stock undervalued or overvalued?
Faircurve's model puts MRP's fair value at $31.23 a share against a last close of $25.90, as of 31 Oct 2026. The model grades the evidence behind this valuation as low, so no verdict is shown. For real estate investment trusts (REITs) the grade looks at the dividend record: at least three years of paid dividends with no cut. It does not say how likely the fair value is to be right.
What is MRP's fair value?
$31.23 a share as of 31 Oct 2026. The fair value blends three methods: a cash-flow multiple against comparable companies, a dividend model, and the value of the properties. The model's own range is $28.94 to $33.61.
What price range does the model give MRP?
$25.30 to $37.30 over 63 trading days. Ranges built this way held the price 60% of the time across 10,454 past valuations, refreshed 31 Oct 2026.
When does Millrose Properties report earnings next?
The next report is scheduled for 11 Nov 2026. Companies can move their dates.
How much has MRP moved on past earnings reports?
Across its last 7 reports the median two session move was 2.0%, ignoring direction. The largest was -10.6% around the report of 6 May 2026.
How confident is the model in this valuation?
The model's evidence grade for MRP is low. For real estate investment trusts (REITs) the grade looks at the dividend record: at least three years of paid dividends with no cut. It is not a probability that the fair value is right, or that the price reaches it.
The model's own ideas on MRP
The model holds no idea open on MRP today. Signed-in readers see the rule each idea runs on, the floor and the exit level the model set and its time limit, and the model's closed ideas on MRP with their outcomes. A free account is enough.