Insider Buying: American Realty Capital Properties Director Buys 18,000 Shares of Stock (ARCP)
American Realty Capital Properties (NASDAQ:ARCP) Director William G. Stanley acquired 18,000 shares of the company’s stock on the open market in a transaction dated Wednesday, June 25th. The shares were purchased at an average cost of $12.39 per share, for a total transaction of $223,020.00. Following the acquisition, the director now directly owns 1,583 shares in the company, valued at approximately $19,613. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
American Realty Capital Properties (NASDAQ:ARCP) traded up 0.36% during mid-day trading on Thursday, hitting $12.435. 4,304,338 shares of the company’s stock traded hands. American Realty Capital Properties has a 1-year low of $11.76 and a 1-year high of $15.44. The stock’s 50-day moving average is $12.53 and its 200-day moving average is $13.32. The company’s market cap is $9.502 billion. American Realty Capital Properties also was the recipient of a large increase in short interest in June. As of June 13th, there was short interest totalling 49,081,911 shares, an increase of 33.4% from the May 30th total of 36,794,335 shares. Based on an average daily volume of 16,417,172 shares, the days-to-cover ratio is presently 3.0 days. Currently, 5.6% of the company’s stock are short sold.
American Realty Capital Properties (NASDAQ:ARCP) last posted its quarterly earnings results 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. Analysts expect that American Realty Capital Properties will post $1.04 EPS for the current fiscal year.
ARCP has been the subject of a number of recent research reports. Analysts at JMP Securities reiterated a “buy” rating on shares of American Realty Capital Properties in a research note on Wednesday, June 11th. They now have a $15.50 price target on the stock, up previously from $15.25. Separately, analysts at Bank of America reiterated a “buy” rating on shares of American Realty Capital Properties in a research note on Wednesday, June 11th. Finally, analysts at Zacks downgraded shares of American Realty Capital Properties from a “neutral” rating to an “underperform” rating in a research note on Tuesday, June 10th. They now have a $11.70 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $14.84.
American Realty Capital Properties, Inc is a real estate investment trust (NASDAQ:ARCP).
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