American Realty Capital Properties Sees Large Growth in Short Interest (ARCP)
American Realty Capital Properties (NASDAQ:ARCP) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 25,544,604 shares, a growth of 18.3% from the April 30th total of 21,589,453 shares, Analyst RN reports. Approximately 3.3% of the company’s stock are sold short. Based on an average daily volume of 7,435,128 shares, the short-interest ratio is currently 3.4 days.
In other American Realty Capital Properties news, Director Scott Bowman bought 10,000 shares of American Realty Capital Properties stock on the open market in a transaction that occurred on Wednesday, May 21st. The shares were purchased at an average price of $12.27 per share, with a total value of $122,700.00. Following the completion of the purchase, the director now directly owns 2,000 shares in the company, valued at approximately $24,540. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at JMP Securities cut their price target on shares of American Realty Capital Properties from $18.00 to $16.00 in a research note on Tuesday. They now have a “sell” rating on the stock. Separately, analysts at Robert W. Baird downgraded shares of American Realty Capital Properties from an “outperform” rating to a “neutral” rating in a research note on Monday, May 19th. They now have a $15.00 price target on the stock, down previously from $17.00. Finally, 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. American Realty Capital Properties currently has an average rating of “Hold” and a consensus price target of $15.30.
Shares of American Realty Capital Properties (NASDAQ:ARCP) opened at 12.34 on Friday. American Realty Capital Properties has a 52 week low of $12.13 and a 52 week high of $16.20. The stock’s 50-day moving average is $13.00 and its 200-day moving average is $13.43. The company’s market cap is $9.429 billion.
American Realty Capital Properties (NASDAQ:ARCP) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the 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. On average, analysts predict that American Realty Capital Properties will post $1.09 earnings per share for the current fiscal year.
The company also recently announced a monthly dividend, which is scheduled for Friday, June 13th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.0833 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.10%. The ex-dividend date is Wednesday, June 4th.
American Realty Capital Properties, Inc is a real estate investment trust (NASDAQ:ARCP).
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