Insider Buying: American Realty Capital Properties EVP Purchases 4,850 Shares of Stock (ARCP)
American Realty Capital Properties (NASDAQ:ARCP) EVP Richard A. Silfen purchased 4,850 shares of the company’s stock in a transaction dated Wednesday, June 25th. The shares were purchased at an average price of $12.34 per share, for a total transaction of $59,849.00. Following the purchase, the executive vice president now directly owns 29,811 shares of the company’s stock, valued at approximately $367,868. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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 given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $14.84.
American Realty Capital Properties (NASDAQ:ARCP) traded up 0.04% on Thursday, hitting $12.395. 1,783,219 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 $9.471 billion. American Realty Capital Properties also saw a significant growth in short interest during the month of June. As of June 13th, there was short interest totalling 49,081,911 shares, a growth of 33.4% from the May 30th total of 36,794,335 shares. Approximately 5.6% of the shares of the company are short sold. Based on an average daily volume of 16,417,172 shares, the days-to-cover ratio is presently 3.0 days.
American Realty Capital Properties (NASDAQ:ARCP) last announced its 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.
American Realty Capital Properties, Inc is a real estate investment trust (NASDAQ:ARCP).
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