VER

VEREIT Inc

Finance/Real Estate


Presented:06/04/2015
Price:$8.72
Cap:$7.89B
Current Price:$50.30
Cap:$11.53B

Presented

Date06/04/2015
Price$8.72
Market Cap$7.89B
Ent Value$17.72B
P/E RatioN/A
Book Value$10.07
Div Yield12.39%
Shares O/S905.14M
Ave Daily Vol7,090,000
Short Int4.82%

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.

Publicly traded companies mentioned herein: American Realty Capital Properties, Inc. (ARCP), RCS Capital (RCAP), Realty Income Corp (O), Spirit Realty Capital Inc (SRC)

Highlights

The presenter is long shares of the largest triple net lease REIT, American Realty Capital Properties (ARCP), and said shares appear to be undervalued at just under $9. He sees a favorable risk/ reward setup now that the late 2014 accounting scandal is in the rear-view mirror and only “minor” adjustments to AFFO were necessary. In addition, both ARCP’s founder Nicholas Schorsch, and then-CEO David Kay are gone, and new CEO Glenn Rufrano is an industry veteran with an excellent reputation. The presenter thinks Rufrano will be a good steward of capital, and there are a number of potential catalysts for shareholders to look forward to, including the reinstatement of ARCP’s dividend.

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Idea Discussion

Commentor 1 - 2 weeks ago

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