BMO Capital Markets Initiates Coverage on American Realty Capital (ARCP)
Equities research analysts at BMO Capital Markets started coverage on shares of American Realty Capital (NASDAQ:ARCP) in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm set a “market perform” rating on the stock.
Several other analysts have also recently commented on the stock. Analysts at Janney Montgomery Scott initiated coverage on shares of American Realty Capital (NASDAQ:ARCP) in a research note to investors on Tuesday. They set a “neutral” rating on the stock. Separately, analysts at Ladenburg Thalmann downgraded shares of American Realty Capital (NASDAQ:ARCP) from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, September 4th. Finally, analysts at TheStreet downgraded shares of American Realty Capital (NASDAQ:ARCP) from a “hold” rating to a “sell” rating in a research note to investors on Tuesday, August 20th.
Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. American Realty Capital currently has an average rating of “Hold” and a consensus target price of $14.57.
Shares of American Realty Capital (NASDAQ:ARCP) opened at 12.59 on Wednesday. American Realty Capital has a 1-year low of $11.64 and a 1-year high of $18.05. The stock’s 50-day moving average is $13.5 and its 200-day moving average is $14.8. The company’s market cap is $2.323 billion.
American Realty Capital (NASDAQ:ARCP) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.04. The company had revenue of $45.00 million for the quarter, compared to the consensus estimate of $41.24 million. Analysts expect that American Realty Capital will post $0.45 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which is scheduled for Sunday, September 15th. Shareholders of record on Sunday, September 8th will be given a dividend of $0.08 per share. This represents a $0.91 dividend on an annualized basis and a yield of 7.23%. The ex-dividend date of this dividend is Wednesday, September 4th.
American Realty Capital Properties, Inc has been formed to own and acquire single tenant, freestanding commercial real estate that is net leased on a medium-term basis, primarily to investment grade credit rated and other credit worthy tenants.
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