The Buy Thesis
American Realty Capital Properties (ARCP) has become irrationally cheap amidst its heavy flow of activity. We believe that the sheer volume of transactions in 2014 may have scared investors as it is no longer clear where earnings figures will come in. However, analysis suggests that the deals were, in aggregate, accretive to FFO/share and bode well for the long-term success of ARCP. The temporarily reduced price made available by the recent equity offering (announced 5/21/14) represents an excellent entry point with outsized reward relative to risk.
Since its 1Q14 report, ARCP has made numerous large transactions which are listed and linked below.
|FREE||SA PRO MEMBERS|
|IDEA GENERATOR||X||Exclusive access to 10 PRO ideas every day|
|INVESTING IDEAS LIBRARY||X||Exclusive access to PRO library of more than 15,000 ideas|
|SECTOR EXPERT NETWORK||X||Exclusive access to all sector experts for direct consultation|
|PERFORMANCE TRACKING||X||Track performance of all PRO stock ideas|
|PROFESSIONAL TOOLS||X||Professional Idea Filters to zero-in based on industry, market cap and more|