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generic question
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Millrose Properties (MRP) is a "Homesite Option Purchase Platform to support residential homebuilders in the acquisition and development of homesites." They spun off from Lennar (LEN) in February 2025. They currently pay a very nice dividend of 10.04%. Their payout ratio is 108.74%. From what I have read, the high payout ratio suggests their dividend is not sustainable. Is the high dividend just a temporary lure to get investors to buy in? What have you seen with other stocks that offer a high dividend like this?