American Realty Capital Properties Coverage Initiated at Wells Fargo & Co. (ARCP)
Wells Fargo & Co. began coverage on shares of American Realty Capital Properties (NASDAQ:ARCP) in a research note issued on Thursday, TheFlyOnTheWall.com reports. The firm set a “market perform” rating on the stock.
A number of other firms have also recently commented on ARCP. Analysts at Zacks upgraded shares of American Realty Capital Properties from an “underperform” rating to a “neutral” rating in a research note on Monday, July 28th. They now have a $13.20 price target on the stock. Separately, 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. Finally, 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. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. American Realty Capital Properties has a consensus rating of “Hold” and a consensus target price of $15.14.
Shares of American Realty Capital Properties (NASDAQ:ARCP) opened at 13.26 on Thursday. 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 $13.06 and its 200-day moving average is $13.20. The company’s market cap is $11.964 billion. American Realty Capital Properties also was the recipient of a significant drop in short interest in August. As of August 15th, there was short interest totalling 24,331,211 shares, a drop of 34.6% from the July 31st total of 37,182,151 shares. Based on an average daily trading volume, of 7,961,985 shares, the short-interest ratio is currently 3.1 days. Currently, 2.7% of the shares of the stock are sold short.
American Realty Capital Properties (NASDAQ:ARCP) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.24 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.23 by $0.01. The company had revenue of $382.00 million for the quarter, compared to the consensus estimate of $311.90 million. Analysts expect that American Realty Capital Properties will post $1.07 EPS for the current fiscal year.
The company also recently declared a sep 14 dividend, which is scheduled for Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.0833 per share. This represents a yield of 7.52%. The ex-dividend date of this dividend is Thursday, September 4th.
American Realty Capital Properties, Inc, is a real estate investment trust (NASDAQ:ARCP).
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