Dallas, Texas 03/05/2014 (FINANCIALSTRENDS) – During the last trading session ARCP’s stock fell by 0.41 percent. According to the market reports, the downfall was attributed to fourth quarter 2013 earnings. According to the reports the company reported $0.25 earnings per share for the quarter i.e. $.02 more than what the analysts had predicted and also appointment of Richard A. Silfen as its Executive Vice President and General Counsel created an impact
ARCP- FY2013 Highlights.
For FY2013, the company announced that the operating results were outstanding. The reports also indicate during 1Q2014 the company plans to close $1.0 billion of self-originated acquisitions. Also, the revenues drastically increased by 260%.
The Adjusted Fund From Operations (AFFO) available to common stockholders increased by 153% to $55.8 million. AFFO per diluted share increased by 108% to $0.25.
It also acquired 676 real estate properties by investing around $3.4 billion.
Credit borrowing facility was increased to $2.4 billion and extending further to $2.97 during 1Q2014
Acquisition of Cole Real Estate Investments
The company successfully closed purchase of Cole Real Estate Investments, Inc. (“Cole”). The deal estimated around $11.2 Billion placed the company among the top 15 Real Estate Investment Trusts (“REIT”).