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Rouse Properties CEO Buys 10,000 Shares (RSE)

Rouse Properties Inc. (NYSE: RSE) CEO Andrew Silberfein this week bought 10,000 shares of RSE common stock at $19.67 per share, according to a filing made with the SEC.

This is the third time in the past twelve months that Silberfein has bought shares in RSE.

The latest purchase came almost a month after Rouse Properties reported its financial results for the first quarter. RSE, which is a real estate investment trust (REIT) focusing on retail rental property, leased more than 529,000 square feet during the first quarter ended March 31, 2013. At the end of the quarter, the company’s leased percentage was 89.20%.

RSE’s total average rental rates for new and renewal leases, on a same suite basis, jumped 18.20% and the initial rental rate for new and renewal leases rose 12.70% during the quarter.

Rouse Properties reported core funds from operations (FFO) of $18.3 million, or $0.37 per share for the first quarter. This compares to core FFO of $15 million, or $0.30 per share reported for the same period in the previous year. The increase was mainly due to the acquisition impact of Grand Traverse Mall and the Mall at Turtle Creek.

Core net operating income for the quarter was $39.3 million, compared to $36.8 million reported for the same period in the previous year. The company reported a net loss of $29.5 million, or $0.60 per share for the quarter, compared to a net loss of $26.1 million, or $0.71 per share reported for the same period in the previous year.

RSE shares have edged higher in trading today. The stock hit an intra-day high of $19.56 earlier today. At last check, RSE shares were trading 0.36% higher at $19.36. Year-to-date, the stock has gained more than 14.60%. The stock currently has a dividend yield of 2.68%.


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All stories in are for informational purposes only. This is NOT a stock recommendation. This story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at . About is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.