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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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March 4, 2015
10:06 EDTARCPOptions with decreasing implied volatility
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10:01 EDTARCPOn The Fly: Analyst Initiation Summary
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06:31 EDTARCPAmerican Realty coverage resumed with a Neutral at BofA/Merrill
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March 3, 2015
17:13 EDTARCPAmerican Realty files form to delay 10-K
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06:00 EDTARCPAmerican Realty reinstated with a Market Perform at JMP Securities
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March 2, 2015
13:17 EDTARCPAmerican Realty concludes internal investigation into accounting irregularities
Earlier today, American Realty noted the following: "As previously announced, the Audit Committee of ARCP's Board of Directors, with the assistance of its independent advisors Weil, Gotshal & Manges and Ernst & Young, conducted a thorough and independent investigation into accounting concerns and other matters brought to the Audit Committee's attention in September 2014. Notably, the Audit Committee's investigation did not identify any material changes relating to ARCP's real estate ownership, rental revenue or fundamental business operations. Additionally, the Audit Committee investigation did not identify any changes to the financial statements or operations of the Cole Capital-sponsored non-traded REITs, nor did the matters reviewed by the Audit Committee relate to the operations of these REITs." Shares of American Realty are off their earlier highs but are still trading 1.53% higher in midday trading.
06:55 EDTARCPAmerican Realty reports restated FY13 AFFO to decrease by 20c per share
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06:49 EDTARCPAmerican Realty reports Q3 AFFO 26c, consensus 26c
Reports Q3 revenue $457.1, consensus $375.78M.
06:16 EDTARCPStocks with implied volatility above IV index mean; SINA ARCP
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February 27, 2015
16:06 EDTARCPOptions Update; February 27, 2015
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15:17 EDTARCPAmerican Realty to hold a conference call
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10:52 EDTARCPOptions with increasing implied volatility
Options with increasing implied volatility: WBAI ARCP BHI TLM ODP
08:07 EDTARCPAmerican Realty to issue restated financial statements and Q3 report on Mach 2
06:30 EDTARCPPGGM calls for new directors at American Realty, WSJ says
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05:47 EDTARCPStocks with implied volatility movement; OWW ARCP
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February 25, 2015
05:51 EDTARCPStocks with implied volatility movement; ARCP HLSS
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February 20, 2015
05:13 EDTARCPStocks with implied volatility above IV index mean; HLF ARCP
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