American Realty Capital Announces Monthly Dividend of $0.08 (ARCP)
American Realty Capital (NASDAQ:ARCP) declared a monthly dividend on Monday, September 30th, ARN reports. Shareholders of record on Tuesday, October 8th will be given a dividend of $0.0758 per share on Tuesday, October 15th. This represents a $0.91 dividend on an annualized basis and a yield of 7.46%. The ex-dividend date of this dividend is Friday, October 4th.
Several analysts have recently commented on the stock. Analysts at BMO Capital Markets initiated coverage on shares of American Realty Capital (NASDAQ:ARCP) in a research note to investors on Wednesday, September 11th. They set a “market perform” rating and a $13.00 price target on the stock. On the ratings front, analysts at Janney Montgomery Scott initiated coverage on shares of American Realty Capital (NASDAQ:ARCP) in a research note to investors on Tuesday, September 10th. They set a “neutral” rating on the stock. Finally, 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. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $14.57.
Shares of American Realty Capital (NASDAQ:ARCP) traded down 2.17% on Monday, hitting $12.20. The stock had a trading volume of 2,128,478 shares. 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 $12.93 and its 200-day moving average is $14.75. The company’s market cap is $2.252 billion.
American Realty Capital (NASDAQ:ARCP) last announced its earnings results on Tuesday, August 6th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters 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. On average, analysts predict that American Realty Capital will post $0.25 earnings per share for the current fiscal year.
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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