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%.