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Stock Market & Financial Investment News

News Breaks
March 13, 2014
06:08 EDTARCPAmerican Realty plans to spin off multi-tenant shopping center business
American Realty Capital Properties announced a plan to spin off substantially all of its multi-tenant shopping center business into a publicly traded REIT, American Realty Capital Centers, that will operate under the name "ARCenters" and that is expected to trade on The NASDAQ Global Market under the symbol, "ARCM." ARCP's operating partnership will retain 25% of ARCM. David S. Kay, ARCP's president, stated, "In addition to unlocking that value for our stockholders, we believe this transaction enhances our financial profile while focusing our pure-play strategy. Not only do we have the added benefit of participating in future potential upside through our operating partnership's 25% retained ownership, we will also reduce our leverage to an expected 7.0x net debt to EBITDA while producing an expected combined 7.3% increase in dividend rate and expected AFFO accretion resulting in a combined $1.20 of AFFO per share. Equally noteworthy is the expected improvement in our credit profile as ARCP will maintain a long lease duration while increasing our percentage of investment grade tenancy to 52%, increasing our percentage of unencumbered NOI, decreasing our percentage of secured debt and materially reducing our property-related capital expenditures." Lisa Beeson, ARCP's COO, further stated, "We believe we have the proven expertise to bring ARCenters to the market and to manage ARCM's over $2B of assets alongside the additional $1.2B of shopping center assets managed across our Private Capital Management business and possibly more from the $1B of acquisition opportunities we are actively reviewing. We expect that ARCenters will truly benefit from ARCP's best-in-class, investment grade platform given our dominant aggregation expertise and by having access to our deeply experienced acquisition, underwriting, leasing and asset management teams. We believe a tremendous opportunity exists for ARCenters to aggregate even more high-quality assets across the fragmented shopping center sector of over 100,000 assets in the U.S. with less than an estimated 5% owned by public companies or large institutional investors."
News For ARCP From The Last 14 Days
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September 15, 2014
10:56 EDTARCPOptions with decreasing implied volatility
Options with decreasing implied volatility: TRW ULTA GTAT FIVE RH LULU LE RAX ARCP BKS
09:59 EDTARCPOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American Realty (ARCP) initiated with an Overweight at JPMorgan... Athlon Energy (ATHL) initiated with a Buy at KLR Group... Capital Product (CPLP) initiated with a Buy at Jefferies... Continental Resources (CLR) initiated with a Buy at Canaccord... Costco (COST) initiated with a Buy at Citigroup... Infinera (INFN) initiated with an Outperform at Barrington... NRG Yield (NYLD) initiated with an Outperform at RBC Capital... PTC Therapeutics (PTCT) initiated with a Buy at Deutsche Bank... Power Solutions (PSIX) initiated with an Outperform at Northland... ServiceNow (NOW) initiated with an Outperform at William Blair... Target (TGT) initiated with a Neutral at Citigroup... Team (TISI) initiated with a Neutral at Sidoti... VeriFone (PAY) initiated with a Buy at Monness Crespi... Wal-Mart (WMT) initiated with a Neutral at Citigroup... Whiting Petroleum (WLL) initiated with a Buy at Canaccord... Winnebago (WGO) initiated with an Outperform at BMO Capital.
06:46 EDTARCPAmerican Realty initiated with an Overweight at JPMorgan
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September 5, 2014
06:04 EDTARCPAmerican Realty experiences upward trajectory in equity raise for Cole Capital
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September 4, 2014
05:20 EDTARCPAmerican Realty initiated with a Market Perform at Wells Fargo
Price target range $13-$14.

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