Market Overview

UPDATE: Baird Equity Research Downgrades American Realty Capital Properties On Multiple Challenges Ahead


In a report published Monday, Baird Equity Research analyst Jonathan Pong downgraded the rating on American Realty Capital Properties (NASDAQ: ARCP) from Outperform to Neutral, and lowered the price target from $17.00 to $15.00.

In the report, Baird Equity Research noted, “Though initial rent coverage of the $1.5B Red Lobster sale-leaseback transaction appears healthy, skepticism over sustainability of that coverage adds another overhang to shares already pressured by equity needs. Potential sale (rather than spin-off) of the multi-tenant retail portfolio would be a compelling positive catalyst but likelihood is questionable given ARCP's desire to use ARCM as another consolidation platform. Increased funding uncertainties, worsening REIT-dedicated investor sentiment keeps us sidelined for now.”

American Realty Capital Properties closed on Friday at $13.10.

Latest Ratings for ARCP

Mar 2015UpgradesEqual-WeightOverweight
Mar 2015AssumesHold
Mar 2015Initiates Coverage onMarket Perform

View More Analyst Ratings for ARCP
View the Latest Analyst Ratings

Posted-In: Baird Equity Research Jonathan PongAnalyst Color Downgrades Analyst Ratings


Related Articles (ARCP)

View Comments and Join the Discussion!

Latest Ratings

RHIJefferiesInitiates Coverage On50.0
HTZJefferiesInitiates Coverage On17.0
MANJefferiesInitiates Coverage On96.0
RSGJefferiesInitiates Coverage On100.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

UPDATE: Groupon Reports Launch of Gnome

L-3 Announces Conversion Rate Adjustment for Its 3% Convertible Contingent Debt Securities ("CODES") Due 2035