American Realty Capital Properties Rating Reiterated by JMP Securities (ARCP)
American Realty Capital Properties (NASDAQ:ARCP)‘s stock had its “buy” rating reiterated by investment analysts at JMP Securities in a note issued to investors on Wednesday. They currently have a $15.50 target price on the stock, up from their previous target price of $15.25. JMP Securities’ price target points to a potential upside of 28.10% from the company’s current price.
The analysts wrote, “Post NAREIT, we’re gaining confidence in David Kay’s (expected to be CEO by YE14) ability to continue to address concerns & build investor confidence, including adding personnel to financial reporting. ARCP has 1) deleveraged its balance sheet & is looking to continue to extend debt duration; 2) sold its shopping center portfolio; & 3) internalized management. “We think that ARCP remains a multiple expansion story trading at a 31% FFO discount to its closest peer (O) despite in line fixed charge coverage & debt duration with an attractive 8.2% distribution rate.”
Several other analysts have also recently commented on the stock. Analysts at Bank of America reiterated a “buy” rating on shares of American Realty Capital Properties in a research note on Wednesday. Separately, analysts at Zacks downgraded shares of American Realty Capital Properties from a “neutral” rating to an “underperform” rating in a research note on Tuesday. They now have a $11.70 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $14.84.
Shares of American Realty Capital Properties (NASDAQ:ARCP) opened at 12.11 on Wednesday. American Realty Capital Properties has a 1-year low of $11.99 and a 1-year high of $15.44. The stock’s 50-day moving average is $12.79 and its 200-day moving average is $13.40. The company’s market cap is $9.253 billion.
American Realty Capital Properties (NASDAQ:ARCP) last released its earnings data 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. On average, analysts predict that American Realty Capital Properties will post $1.01 earnings per share for the current fiscal year.
The company also recently declared a monthly dividend, which is scheduled for Friday, June 13th. Investors of record on Friday, June 6th will be given a dividend of $0.0833 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.26%. The ex-dividend date of this dividend is Wednesday, June 4th.
American Realty Capital Properties, Inc is a real estate investment trust (NASDAQ:ARCP).
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