Not Sold on This Shopping Mall Operator
Horizon Kinetics has reported a position of 8.1 million shares in Rouse Properties (RSE), which represents ownership of over 16% of the total shares outstanding. Our database of 13F filings shows that the fund had owned 3.3 million shares at the end of September, after having doubled the size of its position in the previous three months. The continued increases would indicate that the investment team remains bullish, even though the stock price has risen 27% since the beginning of October.
Rouse is a $910 million market-cap property management company that owns and manages 30 shopping malls in the U.S., operating as a real estate investment trust. It was spun out from General Growth Properties (GGP) in early 2012. Horizon Kinetics is managed by Murray Stahl....498 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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