Key Developments: American Realty Capital Properties Inc (ARCP.O)
17.70USD
3:35pm EDT
$-0.12 (-0.67%)
$17.81
$17.83
$17.92
$17.69
1,102,458
3,704,994
$18.05
$9.77
Latest Key Developments (Source: Significant Developments)
American Realty Capital Properties Inc Reaffirms FY 2013, 2014 FFO Guidance-Conference Call
American Realty Capital Properties Inc reaffirmed its fiscal 2013 guidance and expects AFFO per share of between $0.91 and $0.95 per share that was provided in earnings guidance, as well as the forecast fiscal 2014 AFFO per share of $1.06 to $1.10. Full Article
American Realty Capital Properties Inc Announces Monthly Dividend for May 2013
American Realty Capital Properties Inc announced today that, pursuant to the prior authorization of its board of directors, the Company has declared an annualized dividend of $0.900 per share to be paid monthly to stockholders of record at the close of business on the 8th day of each month, payable on the 15th day of such month. Accordingly, on May 15, 2013, the Company will pay a dividend of $0.075 per share to stockholders of record at the close of business on May 8, 2013. In addition, as previously disclosed, the Company's board of directors authorized, and the Company declared, its sixth consecutive quarterly increase to its annualized dividend. The annualized dividend will be increased by $0.01, from $0.900 to $0.910 per annum, commencing with the Company's June 2013 dividend. Full Article
American Realty Capital Properties Inc Announces $14 Million of Acquisitions
American Realty Capital Properties Inc announced that, since its last announcement on April 8, 2013, it has closed an additional $14 million of single tenant net lease acquisitions, including six properties leased to four investment grade or credit-worthy tenants, including CVS, Family Dollar, Hy-Vee and Advance Auto. The properties are located in five states with approximately 80,000 total rentable square feet. Full Article
American Realty Capital Properties Inc Announces $37.8 Million of Recent Acquisitions
American Realty Capital Properties Inc announced that it has closed $37.8 million of net lease acquisitions, including nine properties located in four states plus Puerto Rico with approximately 200,000 total rentable square feet. These acquisitions have occurred since its last acquisition announcement on March 18, 2013. The nine properties were purchased at a weighted average capitalization rate of 7.7% (calculated by dividing annualized rental income on a straight-line basis by base purchase price) and contained a weighted average lease duration remaining of 12.6 years at acquisition. Full Article
American Realty Capital Properties Inc Revises Offer Upward To Purchase Merged Cole Credit Property Trust III
American Realty Capital Properties Inc announced that it has submitted a revised proposal to the Board of Directors of Cole Credit Property Trust III, Inc. to acquire 100% of the outstanding common stock of CCPT III. Following the Company's review of pro forma operating results and other property-level information disclosed by CCPT III on March 25, 2013 and CCPT III's claim that internalization of Cole Holdings Corporation cannot be averted, ARCP was able to calculate an increased value for CCPT III. Using this information, ARCP's refined proposal contemplates acquiring CCPT III after the close of acquisition of Cole for at least $13.59 per share in stock or $12.50 in cash, based upon information made publicly available by CCPT III on March 25, 2013. The revised proposal offers Improved Cash and Stock Consideration ARCP is prepared to acquire 100% of the outstanding common stock of CCPT III for either 0.80 of a share of ARCP common stock for each share of CCPT III common stock, with a guarantee that the value of the share consideration will not be less than $13.59 per share (with the added benefit of a significant upside) or $12.50 per share in cash. Full Article
American Realty Capital Properties Inc To Buy Cole Credit Property Trust III For $5.7 Billion-DJ
Dow Jones reported that American Realty Capital Properties Inc made public its offer to acquire the commercial real-estate investment trust Cole Credit Property Trust III in a $5.7 billion cash and stock deal. American Realty, in a letter to CCPT III's board released on March 20, 2013 said it is willing to pay $12 in cash or 0.8 of an American Realty share for each CCPT III share. The transaction would be worth more than $9 billion including assumption of debt. American Realty said it reached out to CCPT III's financial adviser to express its interest before the Cole Holdings deal was announced. American Realty said it would need to reconsider its proposal if the Cole Holdings deal closes. Full Article
American Realty Capital Properties Inc Acquires $31 Million TD Bank Office Building
American Realty Capital Properties Inc announced that it purchased a TD Bank office building in Falmouth, Maine. The net lease property contains 143,030 rentable square feet for a contract purchase price of $31.0 million at a capitalization rate of 8.9% (calculated by dividing annualized rental income on a straight-line basis by base purchase price). Full Article
American Realty Capital Properties Inc Announces Quarterly Dividend
American Realty Capital Properties Inc announced that on March 17, 2013, Board of Directors authorized, and the Company declared, the sixth consecutive quarterly increase to annualized dividend. Reflecting the significantly broader asset and revenue base, and increased 2013 FFO and AFFO per share guidance, ARCP will increase annualized dividend per share by $0.01, from $0.900 to $0.910 per annum. The new annualized dividend rate will first be payable in connection with the June dividend and distributions will continue to be paid on the 15th day of each month to stockholders of record at the close of business on the 8th day of such month. Full Article
American Realty Capital Properties Inc Announces Acquisition of $8.8 Million FedEx Property
American Realty Capital Properties Inc announced that it acquired a FedEx Ground distribution facility leased to a subsidiary of FedEx Corporation with 68,425 rentable square feet located in Lowell, Arkansas for a purchase price of $8.8 million at a capitalization rate of 9.0% (calculated by dividing annualized rental income on a straight-line basis plus operating expense reimbursement revenue, less property operating expenses, by base purchase price). Additionally, the Company announced that it currently has a robust pipeline of acquisitions under contract totaling approximately $167.2 million with an average remaining lease duration of 12.7 years to be purchased at a weighted average capitalization rate of 8.0%. Full Article
American Realty Capital Properties Inc Completes Acquisition Of American Realty Capital Trust III
American Realty Capital Properties Inc announced the closing of previously announced transaction to acquire American Realty Capital Trust III, Inc. As previously announced, the merger was unanimously approved by both companies' Boards of Directors and was approved by both companies' stockholders at their respective special meetings held on February 26, 2013. As a result of the merger, ARCP's NASDAQ listing will be transferred to the larger NASDAQ Global Select Market and common stock will continue to trade under the ticker symbol ARCP starting at market open on February 28, 2013. Pursuant to the terms of the merger agreement, each outstanding share of ARCT III was converted into a right to receive, at the election of each ARCT III stockholder, either 0.95 of a share of common stock of ARCP; or $12.00 in cash. Elections to receive cash were made with respect to approximately 29.2 million shares of ARCT III common stock, or approximately 16.5% of the outstanding shares. Full Article
American Realty withdraws offer to buy Cole Credit
- Diversified real estate investment trust American Realty Capital Properties Inc withdrew its $6.7 billion offer to buy Cole Credit Property Trust III after the trust rejected the offer twice.
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