LONDON, August 4, 2014 /PRNewswire/ --
Investor-Edge.com has issued free earnings notes on American Realty Capital Properties Inc. (NASDAQ: ARCP) as the company announced its second quarter 2014 earnings results on Tuesday, July 29, 2014. For the reported quarter, the diversified REIT's total revenues surged 595.2% Y-o-Y, while adjusted funds from operations (AFFO) per share grew 26% Y-o-Y. Our free coverage report can be accessed at:
http://www.investor-edge.com/register
Earnings Overview
In its most recent earnings release, American Realty Capital Properties Inc. reported Property Level net operating income (NOI) of $305.2 million, up from $51.9 million in the prior year period. The New York-based company reported FFO for Q2 2014 of $0.20 per fully diluted share. During the quarter, the REIT refinanced debt of $282.2 million with an average maturity of 1.9 years and a weighted average interest rate of 3.5%. The company has also raised $161.0 million of capital on behalf of the managed REITs during the period. The free research on ARCP can be downloaded as in PDF format at:
http://www.Investor-Edge.com/ARCPFreeReport
David S. Kay, President of American Realty Capital Properties Inc., stated in the press release that the Company's second quarter results and accomplishments reflect its focus on attaining long-term value. He added that in six months, the company has reached $38.0 million of the $77.0 million of cost synergies for the first year. Mr. Kay further stated that American Realty Capital Properties Inc. has been able to trim down leverage, de-risk its balance sheet, lengthen debt maturities, create $11.8 billion of unencumbered assets and considerably extend and upsize the company's credit facility during these six months.
American Realty Capital Properties Inc.'s total revenue stood at $381.98 million, compared with $54.95 million in the second quarter of 2013. Adjusted funds from operations during the second quarter 2014 stood at $205.28 million, or $0.24 per fully diluted share, as compared to $38.80 million, or $0.19 per fully diluted share, in the comparable prior year period. Analysts at Bloomberg expected AFFO of $0.23 per share on total revenue of $313.13 million. For the full year 2014, the company expects pro forma normalized AFFO run rate of $1.18 to $1.20 per share (including 2014 completed and announced transactions). Visit Investor-Edge and access the latest research on ARCP at:
http://www.Investor-Edge.com/ARCPEarningsCoverage
On July 22, 2014, American Realty Capital Properties Inc. declared an annualized common stock dividend of $1.00 per share to be paid monthly to holders of common stock of record at the close of business on the 8th day of each month, payable on the 15th day of such month. Accordingly, the company will pay dividend of $0.083 per share on August 15, 2014, to holders of common stock of record at the close of business on August 8, 2014.
Stock Performance
On Tuesday, July 29, 2014, American Realty Capital Properties Inc.'s shares gained 1.93% to close the session at $13.23. On the last close, Friday, August 01, 2014, American Realty Capital Properties Inc.'s shares advanced 0.69% to end the day at $13.20, after vacillating between $13.05 and $13.24. A total of 9.88 million shares were traded, which was below its three months average volume of 15.52 million shares. The company's shares have fallen by 0.23% in the previous three trading sessions, while the stock has advanced 6.28% in the last one month and 2.72% on YTD basis. The company's shares are trading above their 50-day moving average of $12.56, while the 50-day moving average is below the 200-day moving average of $13.22. Additionally, the stock has an RSI of 63.58.
Sneak Peek to Corporate Insider Trading
In the last one month, two insiders have bought 11,420 shares of American Realty Capital Properties Inc. worth $127,298. On July 11, 2014, Director, William G. Stanley bought 10,000 shares worth $126,588 at an average price of $12.66 a share. Chairman and CEO, Nicholas S. Schorsch, has bought a total of 1,420 shares between June 27, 2014 and July 10, 2014. Complimentary in-depth research on ARCP is available at:
http://www.Investor-Edge.com/ARCPInsiderTrading
About Investor-Edge.com
At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.
===============
EDITOR'S NOTES:
===============
1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.
2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.
3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.
4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco [at] http://www.investor-edge.com.
5. For any urgent concerns or inquiries, please contact us at compliance [at] http://www.investor-edge.com.
6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research [at] http://www.investor-edge.com for consideration.
COMPLIANCE PROCEDURE
Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Investor-Edge, represented by Rohit Tuli, CFA. An outsourced research services provider has only reviewed the information provided by Investor-Edge in this article or report according to the procedures outlined by Investor-Edge. Investor-Edge is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.
NOT FINANCIAL ADVICE
Investor-Edge makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.
NO WARRANTY OR LIABILITY ASSUMED
Investor-Edge is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Investor-Edge whatsoever for any direct, indirect or consequential loss arising from the use of this document. Investor-Edge expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Investor-Edge does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE Investor-Edge
