American Realty Capital Properties (ARCP) continues down the acquisition trail, agreeing to...

|By:, SA News Editor

American Realty Capital Properties (ARCP) continues down the acquisition trail, agreeing to purchase non-traded REIT ARCT IV in a deal valued at $3.1B.  ARCT IV shareholders can elect to receive 2.05 shares of ARCP for each share of ARCT IV, or $30/share in cash. Post-deal, ARCP bumps its 2014 AFFO guidance to $1.19-$1.25/share, and boosts its annual dividend by $0.03 to $0.35/share. Premarket action has the stock up 91%, but it's one trade for 100 shares. (PR)