Boston, MA 05/19/2014 (wallstreetpr) – Recently, American Realty Capital Properties Inc (NASDAQ:ARCP) has announced the operating results for the first quarter the FY2014.
The financial results reported for 1Q2014
American Realty Capital Properties has reported the Q1 operating results as per which the company has reported a total revenue equivalent to the sum of $320.6 million, which has increased by 647.4% as compared to the Q1 of 2013. The company has reported that the AFFO available to the holders of the common stock has increased by 334.6% on a year-over-year basis and amounted to the total sum of $147.4 million in the Q1 of 2014.
American Realty Capital Properties Inc (NASDAQ:ARCP) undertook acquisition activities in this quarter that amounted to the total sum of $1.03 billion on the company’s balance sheet. The company reports that more than 70 individual transactions took place and $700 million worth transactions have already been finalized for the next quarter of this year. American Realty Capital Properties also reported that it has acquired assets worth $419.9 million by the end of this quarter related to real estate. These include around 51 transactions and the total number of 84 properties that have been dealt with.
The Chief Executive Officer of American Realty Capital Properties, Nicholas S. Schorsch, said the company is pleased with its performance in the first quarter of this year. The company has expected $0.26 AFFO per share and its performance was in line with its expectations. He reveals that the company would hopefully achieve more than its target by the end of the year 2014 due to its large number of acquisitions and contracts to possess properties.
He reveals that the balance sheet of American Realty Capital Properties Inc (NASDAQ:ARCP) continues to strengthen and hence, they make way for increasing returns promised to the company’s shareholders in this year. The CEO, who is also handling the post of the Executive Chairman, also revealed his plans to acquire the post of the Chairman soon.
