American Realty Capital Properties Receives Consensus Rating of “Hold” from Brokerages (NASDAQ:ARCP)
Shares of American Realty Capital Properties (NASDAQ:ARCP) have been given an average rating of “Hold” by the twelve ratings firms that are currently covering the company, StockRatingsNetwork.com reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $14.84.
Shares of American Realty Capital Properties (NASDAQ:ARCP) opened at 12.84 on Wednesday. American Realty Capital Properties has a 52-week low of $11.76 and a 52-week high of $14.96. The stock’s 50-day moving average is $12.50 and its 200-day moving average is $13.31. The company’s market cap is $9.811 billion. American Realty Capital Properties also was the target of a significant drop in short interest in the month of July. As of July 15th, there was short interest totalling 37,949,174 shares, a drop of 24.3% from the June 30th total of 50,123,395 shares. Approximately 4.3% of the company’s shares are sold short. Based on an average trading volume of 8,137,663 shares, the days-to-cover ratio is presently 4.7 days.
American Realty Capital Properties (NASDAQ:ARCP) last announced its 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. On average, analysts predict that American Realty Capital Properties will post $1.03 earnings per share for the current fiscal year.
The company also recently announced a monthly dividend, which is scheduled for Friday, August 15th. Shareholders of record on Friday, August 8th will be paid a dividend of $0.0833 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.79%. The ex-dividend date is Wednesday, August 6th.
A number of analysts have recently weighed in on ARCP shares. Analysts at Oppenheimer initiated coverage on shares of American Realty Capital Properties in a research note on Tuesday, July 22nd. They set a “market perform” rating on the stock. Separately, 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. Finally, analysts at Bank of America reiterated a “buy” rating on shares of American Realty Capital Properties in a research note on Wednesday, June 11th.
American Realty Capital Properties, Inc is a real estate investment trust (NASDAQ:ARCP).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.