Company profile

Ticker
ARCPP
Exchange
Website
CEO
Glenn J. Rufrano
Employees
Incorporated in
Location
Fiscal year end
Former names
American Realty Capital Properties, Inc.
SEC CIK

ARCPP stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

21 May 20
29 May 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Sep 19 Jun 19 Mar 19 Dec 18
Revenue 313.26M
Net income -726.44M 285.66M 69.3M 27.22M
Diluted EPS -0.76 0.27 0.05 0.01
Net profit margin 8.69%
Operating income
Net change in cash 817.81M 198.72M -17.97M 5.49M
Cash on hand 1.03B 211.51M 12.79M 30.76M
Annual (USD) Dec 18 Dec 17 Dec 16 Dec 15
Revenue 1.25B 1.34B 1.44B
Net income -85.77M 31.82M -195.86M -316.35M
Diluted EPS -0.16 -0.04 -0.29 -0.43
Net profit margin 2.54% -14.67% -21.95%
Operating income 256.25M 189.03M 289.79M
Net change in cash -3.42M -219.3M 189.34M -346.73M
Cash on hand 30.76M 34.18M 253.48M 64.14M

Financial data from Vereit earnings reports

Date Owner Security Transaction Code $Price #Shares $Value #Remaining
21 May 20 Frater Hugh R Common Stock Grant Aquire A 5.31 23,541 125K 94,245
21 May 20 Lieb Richard J Common Stock Grant Aquire A 5.31 23,541 125K 72,570
21 May 20 Henry David Common Stock Grant Aquire A 5.31 23,541 125K 91,194
21 May 20 Pinover Eugene A Common Stock Grant Aquire A 5.31 23,541 125K 142,070
21 May 20 Ordan Mark S Common Stock Grant Aquire A 5.31 23,541 125K 125,857
13F holders
Current Prev Q Change
Total holders 415 454 -8.6%
Opened positions 39 88 -55.7%
Closed positions 78 67 +16.4%
Increased positions 149 182 -18.1%
Reduced positions 161 117 +37.6%
13F shares
Current Prev Q Change
Total value 7.73B 10.32B -25.1%
Total shares 999.69M 1B -0.1%
Total puts 254.2K 503.7K -49.5%
Total calls 420.6K 321.1K +31.0%
Total put/call ratio 0.6 1.6 -61.5%
Largest owners
Shares Value Change
Vanguard 163.14M $797.75M +5.6%
CNS Cohen & Steers 116.01M $567.29M +24.9%
BLK BlackRock 89.42M $437.27M -0.4%
STT State Street 46.28M $232.1M +5.1%
IVZ Invesco 43.06M $210.58M +164.1%
DSECF Daiwa Securities 37.66M $184.16M +31.6%
JPM JPMorgan Chase & Co. 35.46M $173.38M +4.5%
LSV Asset Management 31.19M $152.52M -6.8%
FMR 31.07M $151.95M -12.8%
Eminence Capital 25.91M $126.72M +86.4%
Largest transactions
Shares Bought/sold Change
IVZ Invesco 43.06M +26.76M +164.1%
CNS Cohen & Steers 116.01M +23.11M +24.9%
Resolution Capital 0 -15.45M EXIT
Eminence Capital 25.91M +12.01M +86.4%
Norges Bank 0 -11.91M EXIT
Citadel Advisors 14.66M +11.51M +364.5%
Brookfield Public Securities 3.05M -10.91M -78.2%
DSECF Daiwa Securities 37.66M +9.04M +31.6%
Fir Tree Capital Management 0 -8.94M EXIT
Vanguard 163.14M +8.72M +5.6%

Financial report summary

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Management Discussion
  • The coronavirus (“COVID-19”) has impacted all states where our tenants operate their businesses or where our properties are located, and measures taken to prevent or remediate COVID-19, including “shelter-in-place” or “stay-at-home” orders or other quarantine mandates issued by local, state or federal authorities, have had an adverse effect on our business and the businesses of our tenants. While we did not incur significant disruptions to our business during the three months ended March 31, 2020 from the COVID-19 pandemic, the full extent of the impact on our business, financial condition, liquidity and results of operations is uncertain.
  • Our dedicated property type asset management teams have been in discussion with tenants to understand the impact of COVID-19 on their businesses. As of May 15, 2020, the Company received certain rent relief requests, most often in the form of rent deferral requests, from tenants representing approximately 34% of rental income on an annualized basis, including some tenants that paid April and May rent. These rent relief requests vary in timeframes, but are concentrated within the two to four month range. We evaluate each tenant request on a case-by-case basis, including by analyzing metrics such as industry segment, corporate financial health, rent coverage, and the tenant's liquidity. As of May 15, 2020, we had received approximately 81% and 78% of April and May rent, respectively, which included contractual rent and recoveries paid by tenants to cover estimated tax, insurance and common area maintenance expenses, including the Company's pro rata share of such amounts related to properties owned by unconsolidated joint ventures, and approximately 2% of May rent to be paid in arrears by a Government agency tenant. However, information regarding historical rent collections should not serve as an indication of expected future rent collections. We continue to review receivables related to rent, straight-line rent and property operating expense reimbursements for collectability and changes in circumstances that could indicate the carrying value of our real estate assets or goodwill may not be recoverable. Additionally, given the economic uncertainty and rapidly-evolving circumstances related to COVID-19, we are not currently able to predict the level of acquisition and/or disposition activity for the remainder of 2020.
  • The Financial Accounting Standards Board (the “FASB”) issued a question-and-answer document, Accounting for Lease Concessions Related to the Effects of the COVID-19 Pandemic, which, for concessions related to the effects of COVID-19, allows an entity to elect to not analyze each contract to determine whether enforceable rights and obligations for concessions exist in the contract and to elect to apply or not apply the lease modification guidance in Accounting Standards Codification (“ASC”) Topic 842, Leases (“ASC 842”), to those contracts. For concessions that provide a deferral of payments with no substantive changes to the consideration in the original contract, we can evaluate whether to (i) account for these concessions as if there were no changes made to the lease agreement and accordingly, increase the lease receivable and continue to recognize income or, (ii) account for the rent deferrals as variable lease payments. Concessions that substantively increase the consideration in the original contract are accounted for as a lease modification under ASC 842, which will require us to reevaluate the lease classification and remeasure and reallocate the consideration over the remaining lease term. We are currently evaluating the impact of this guidance and which elections, if any, we will make for the quarter-ending June 30, 2020.
Content analysis ?
Positive
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Uncertain
Constraining
Legalese
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