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American Realty Capital Properties (NASDAQ:ARCP) was downgraded by Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued on Monday, TheFlyOnTheWall.com reports. They currently have a $15.00 target price on the stock, down from their previous target price of $17.00. Robert W. Baird’s target price indicates a potential upside of 14.50% from the company’s current price.

The analysts wrote, “Though initial rent coverage of the $1.5B Red Lobster sale-leaseback transaction appears healthy, skepticism over sustainability of that coverage adds another overhang to shares already pressured by equity needs. Potential sale (rather than spin-off) of the multi-tenant retail portfolio would be a compelling positive catalyst but likelihood is questionable given ARCP’s desire to use ARCM as another consolidation platform. Increased funding uncertainties, worsening REIT-dedicated investor sentiment keeps us sidelined for now.”

In other American Realty Capital Properties news, Director Scott J. Bowman acquired 10,000 shares of American Realty Capital Properties stock on the open market in a transaction dated Friday, May 16th. The stock was purchased at an average price of $13.08 per share, for a total transaction of $130,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

ARCP has been the subject of a number of other recent research reports. Analysts at TheStreet upgraded shares of American Realty Capital Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Separately, analysts at Stifel Nicolaus initiated coverage on shares of American Realty Capital Properties in a research note on Wednesday, April 9th. They set a “hold” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $15.70.

American Realty Capital Properties (NASDAQ:ARCP) opened at 13.10 on Monday. American Realty Capital Properties has a 52 week low of $12.13 and a 52 week high of $17.92. The stock’s 50-day moving average is $13.3 and its 200-day moving average is $13.47. The company’s market cap is $10.010 billion.

American Realty Capital Properties (NASDAQ:ARCP) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.26 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.29 by $0.03. The company had revenue of $320.60 million for the quarter, compared to the consensus estimate of $277.97 million. Analysts expect that American Realty Capital Properties will post $1.13 EPS for the current fiscal year.

American Realty Capital Properties, Inc is a real estate investment trust (NASDAQ:ARCP).

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