Both Insiders and Hedge Funds Seem to Love American Realty Capital Properties (ARCP)

Last week, two insiders at American Realty Capital Properties Inc (NASDAQ:ARCP) acquired stock from the company. On Jan. 14th, Brian Block, Executive Vice President, Treasurer, Secretary and Chief Financial Officer, acquired* 4,000 shares of Series F Cumulative Redeemable Preferred Stock at a price of $20.59 per share. In addition to these shares, Mr. Block directly owns 894,694 shares of Common Stock and an extra 5,159 shares of Series F Cumulative Redeemable Preferred Stock.

A few days later, on Jan. 17th, Leslie Michelson, Board Director, acquired 6,900 American Realty Capital Properties Inc (NASDAQ:ARCP) shares of Common Stock in two separate transactions. On the one hand, he acquired 5,500 shares at a price of $13.5399 per share, increasing his holdings to 51,500 shares. In addition, Mr. Michelson bought 1,400 shares for $13.48 each, which are now held by an immediate family member.

David Simon

Both purchases follow a couple of 8-K forms filed at the U.S. Securities and Exchange Commission “regarding the settlement of certain litigation relating to, among other things, the Agreement and Plan of Merger” (Sec.gov) with Cole Real Estate Investments, Inc. This is quite understandable, since new opportunities will unlock as soon as the merger goes through, which could certainly make the stock price rise.

However, even before these forms were filed, American Realty Capital Properties Inc (NASDAQ:ARCP) witnessed strong insider activity. Since the beginning of 2014, at least 6 other insiders, including the company´s Chief Executive Officer, Chief Investment Officer and President, in addition to several Board Directors, added stock to their portfolios.

Furthermore, it is not only insiders that are betting on American Realty Capital Properties Inc (NASDAQ:ARCP). David Simon‘s Twin Capital Management in its latest 13F showed that it had increased its position in the company by more than 50% and now owns 5,724,867 shares (which comprises about 19% of its total holdings). Another fund that seems to feel bullish about this company is Jay Petschek and Steven Major‘s Corsair Capital Management, which also upped its stakes lately (by more than 40%) and now owns 2,644,126 shares, which account for more than 4% of its portfolio´s value.

In addition, several major hedge funds like Ken Griffin‘s Citadel Investment Group and D. E. Shaw hold company bonds worth several million dollars.

* “Purchased by spouse as trustee of trust for the benefit of the reporting person’s children.” (Sec.gov)

 

Disclosure: Javier Hasse holds no position in any stocks mentioned

Recommended Reading:

One Insider Ups His Stake at Hovnanian Enterprises (HOV)

Insider Watch: 5 Stocks Scott D. Sandell Likes

Insider Bets On EP Energy Corp (EPE)’s IPO

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!