VER

VEREIT Inc

Finance/Real Estate, Event Driven/Special Sit


Presented:05/02/2013
Price:$16.22
Cap:$2.51B
Current Price:$50.30
Cap:$11.53B

Presented

Date05/02/2013
Price$16.22
Market Cap$2.51B
Ent Value$2.68B
P/E RatioN/A
Book Value$10.80
Div Yield9.9%
Shares O/S154.94M
Ave Daily Vol3,170,000
Short Int0.45%

Current

Price$50.30
Market Cap$11.53B
VEREIT, Inc. is a publicly owned real estate investment trust. It owns and acquires single tenant, freestanding commercial real estate that is net leased on a medium-term basis, primarily to investment grade credit rated and other creditworthy tenants. The company principally invests in retail and office properties. It was formerly known as American Realty Capital Properties, Inc. VEREIT, Inc. was founded in 2010 and is based in Phoenix, Arizona.

Please note, on 7/31/15 American Realty Capital Properties, Inc. (ARCP) changed it’s company name and ticker to VEREIT Inc. (VER). The content of this idea will make reference to the original company name and ticker symbol.

Highlights

The presenter is long shares of ARCP and sees relatively surprising upside potential in this “Triple Net REIT.” He explained how ARCP went from a $150 million market cap to $2.5 billion at the end of February via a stock-based transaction with ARCT III, and outlined the basic structure of triple net leases (which are leveraged in commercial estate - e.g., for drug stores or bank-branches). Overall, he sees an opportunistic management team running a portfolio of relatively more valuable assets/ leases than its peers, and a minimum upside of 20% for investors if his thesis is correct. The following additional fundamental positives and potential future catalysts were discussed and support his bullish outlook:

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Idea Discussion

Commentor 1 - 2 weeks ago

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