American Realty Capital Properties Receives Average Rating of “Hold” from Brokerages (NASDAQ:ARCP)
Shares of American Realty Capital Properties (NASDAQ:ARCP) have received a consensus rating of “Hold” from the thirteen ratings firms that are covering the company, StockRatingsNetwork.com reports. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $15.14.
American Realty Capital Properties (NASDAQ:ARCP) traded down 1.13% during mid-day trading on Thursday, hitting $13.11. The stock had a trading volume of 1,695,199 shares. American Realty Capital Properties has a 1-year low of $11.76 and a 1-year high of $14.96. The stock has a 50-day moving average of $13.06 and a 200-day moving average of $13.20. The company’s market cap is $11.829 billion. American Realty Capital Properties also saw a large decrease in short interest during the month of August. As of August 15th, there was short interest totalling 24,331,211 shares, a decrease of 34.6% from the July 31st total of 37,182,151 shares. Approximately 2.7% of the shares of the stock are sold short. Based on an average trading volume of 7,961,985 shares, the short-interest ratio is presently 3.1 days.
American Realty Capital Properties (NASDAQ:ARCP) last announced its 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. On average, analysts predict that American Realty Capital Properties will post $1.07 earnings per share 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.
A number of analysts have recently weighed in on ARCP shares. Analysts at Wells Fargo & Co. initiated coverage on shares of American Realty Capital Properties in a research note on Thursday. They set a “market perform” rating on the stock. Separately, 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. Finally, 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.
American Realty Capital Properties, Inc, is a real estate investment trust (NASDAQ:ARCP).
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