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Stock Market & Financial Investment News

News Breaks
January 3, 2014
16:19 EDTARCPAmerican Realty completes acquisition of American Realty Capital Trust IV
David Kay, President of ARCP, said "We expect to complete our transition to self-management on January 8, 2014. The ARCT IV acquisition not only expands the size of our portfolio, but strengthens the composition of credit tenants in our portfolio. This positions us to protect our investors' capital and generate returns to our investors through growth in rents and asset appreciation, and thus providing durable income. Additionally, we issued more than $1.5B of common and preferred securities in connection with the closing, allowing us to further deleverage our balance sheet, which is consistent with our focus on making accretive acquisitions." Brian S. Block, ARCP's CFO, said, "This transaction is instrumental to achieving 2014 AFFO growth per share, and will reduce our balance sheet leverage with ARCT IV's highly unencumbered portfolio of real estate assets. As we previously announced, our 2014 AFFO guidance ranges from $1.13 per share to $1.19, in conjunction with this transaction along with other previously announced transactions."
News For ARCP From The Last 14 Days
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December 18, 2014
13:49 EDTARCPFormer American Realty Chair said to call for manipulation of results, WSJ says
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13:44 EDTARCPFormer American Realty Chair said to call for manipulation of results, WSJ says
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11:08 EDTARCPOptions with increasing implied volatility
Options with increasing implied volatility: CZR RSX HLF YPF ARCP MGM A MCD
December 15, 2014
08:41 EDTARCPAmerican Realty announces CEO Kay, COO Beeson step down
American Realty Capital Properties announced changes to its management and corporate governance. As previously announced, Nick Schorsch has stepped down as Executive Chairman of ARCP and from the ARCP Board of Directors and the Boards of Directors of the non-traded REITs managed by Cole Capital. In addition, David Kay has stepped down as CEO of ARCP and from the ARCP Board of Directors. Lisa Beeson has also stepped down as President and COO. William Stanley has been appointed Lead Independent director and Chairman of the Nominating and Corporate Governance Committee. Effective immediately, Stanley will serve as Interim CEO and Interim Chairman of the Board until permanent replacements are named. The Compensation Committee of the ARCP Board of Directors already has commenced the process of identifying a new CEO and a new Chairman of the Board. The Committee is engaging an independent search firm to assist with this process and will identify and name new leadership as expeditiously as possible. In connection with Mr. Schorsch's departure as Executive Chairman, ARCP will be unwinding all of its relationships with entities in which Schorsch maintains an executive or director-level role or is a significant stockholder. These steps will not only enhance the Company's corporate governance structure but will also lead to further simplification of its business relationships. As part of this undertaking, Mr. Stanley has resigned, or is in the process of resigning, his positions with all other entities related with Mr. Schorsch, including Business Development Corporation of America, Business Development Corporation of America II, American Realty Capital, Retail Centers of America, Inc., and New York REIT Inc. As previously disclosed, the independent members of the ARCP Board of Directors have retained Morgan Stanley & Co. LLC to provide advice around capital structure, business strategy and capital allocation.
08:39 EDTARCPAmerican Realty announces David Kay stepping down as CEO
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08:33 EDTARCPAmerican Realty annouces resignation of Schorsch as ARCP Executive Chair
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December 4, 2014
06:24 EDTARCPAmerican Realty to receive $60M settlement from RCS Capital
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06:13 EDTARCPRCS Capital announces agreement to settle litigation with American Realty
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