Last $17.20 USD
Change Today -0.17 / -0.98%
Volume 132.9K
As of 8:04 PM 08/22/14 All times are local (Market data is delayed by at least 15 minutes).

rouse properties inc (RSE) Key Developments

Rouse Properties Mulls Acquisitions

Rouse Properties, Inc. (NYSE:RSE) is seeking acquisitions. Rouse Properties said, "The Company's objective is to continue to grow the dividend over time and the Board will continue to evaluate the dividend policy as the Company's repositioning and acquisition plans continue to take effect." Andrew Silberfein, President and Chief Executive Officer of Rouse Properties said, "We continued to make great progress through the second quarter of 2014, implementing our operational and capital investment programs across our entire platform, as well as continuing to grow and upgrade our portfolio with accretive acquisitions."

Rouse Properties, Inc. Declares Common Stock Dividend, Payable on October 31, 2014

On July 31, 2014, the Board of Directors of Rouse Properties, Inc. declared a common stock dividend of $0.17 per share payable on October 31, 2014 to stockholders of record on October 15, 2014.

Rouse Properties, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Revises Earnings Guidance for the Year 2014

Rouse Properties, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenues of USD 67,790,000 compared to USD 58,381,000 a year ago. Operating income was USD 10,677,000 compared to USD 12,387,000 a year ago. Loss before income taxes and discontinued operations of USD 8,052,000 compared to USD 9,147,000 a year ago. Loss from continuing operations was USD 8,175,000 or USD 0.14 per basic and diluted share compared to USD 9,366,000 or USD 0.19 per basic and diluted share a year ago. Net loss was USD 8,175,000 or USD 0.14 per basic and diluted share compared to net income of USD 4,116,000 or USD 0.08 per basic and diluted share a year ago. Core FFO was USD 21.4 million or USD 0.37 per diluted share, as compared to USD 17.2 million, or USD 0.34 per diluted share in the prior year period. The growth year over year was primarily the result of the impact of the properties that were acquired in 2013 and 2014. Core NOI was USD 44.4 million as compared to USD 38.7 million in the prior year period. On a Same Property basis, excluding legacy litigation expenses of approximately USD 0.8 million, Core NOI, as adjusted, for the portfolio increased by 1.2% to USD 33.9 million from USD 33.5 million for the three months ended June 30, 2014 compared to June 30, 2013. The change in net loss was primarily due to the result of the gain on early extinguishment of debt of USD 14.0 million related to the Boulevard Mall for the three months ended June 30, 2013. Funds from operations were USD 15,244,000 compared to USD 6,197,000 a year ago. Net operating income was USD 41,224,000 compared to USD 34,167,000 a year ago. For the six months, the company reported total revenues of USD 135,628,000 compared to USD 115,874,000 a year ago. Operating income was USD 24,017,000 compared to USD 25,023,000 a year ago. Loss before income taxes and discontinued operations of USD 12,354,000 compared to USD 15,954,000 a year ago. Loss from continuing operations was USD 12,601,000 or USD 0.22 per basic and diluted share compared to USD 16,208,000 or USD 0.33 per basic and diluted share a year ago. Net loss was USD 12,601,000 or USD 0.22 per basic and diluted share compared to USD 25,371,000 or USD 0.51 per basic and diluted share a year ago. Core funds from operations were USD 43,818,000 or USD 0.76 per diluted share compared to USD 35,486,000 or USD 0.71 per diluted share a year ago. Core net operating income was USD 88,608,000 compared to USD 78,049,000 a year ago. Net operating income was USD 82,222,000 compared to USD 68,259,000 a year ago. Funds from operations were USD 31,862,000 compared to USD 15,462,000 a year ago. The 8% increase in Core FFO per diluted share for the six months were driven by a 13.5% increase in Core NOI, and an 80 basis point decrease in interest expense, partially offset by an increase in general and administrative expense, as well as an increase in its share count. The company is increasing its full year 2014 guidance range for Core FFO to USD 1.59 to USD 1.63 per diluted share, based on management's expectation as of the date of release. Full year guidance assumes the following: Growth of 3.0% to 4.0% in Same Property Core NOI as adjusted, excluding legacy litigation expenses, general and administrative expense of USD 24.6 million to USD 24.7 million, and net interest expense of USD 68.6 million to USD 68.8 million. The company expects net income per share to be in the range of USD 0.15 to USD 0.24, depreciation and amortization to be in the range of USD 1.11 to USD 1.10 and funds from operations per share to be in the range of USD 1.26 to USD 1.34.

Rouse Properties, Inc. to Report Q2, 2014 Results on Aug 04, 2014

Rouse Properties, Inc. announced that they will report Q2, 2014 results After-Market on Aug 04, 2014

Rouse Properties, Inc., Q2 2014 Earnings Call, Aug 04, 2014

Rouse Properties, Inc., Q2 2014 Earnings Call, Aug 04, 2014

 

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