ARCP Posts Record Q1 Numbers

NEW YORK CITY—Now the largest REIT in the net lease sector after a series of acquisitions, American Realty Capital Properties posted a whopping 647.4% year-over-year increase in its first-quarter earnings. The $320.6-million figure for the three months ended March 31 set a new record for ARCP.

Nicholas Schorsch, executive chairman and CEO of ARCP, says the REIT’s adjusted funds from operations of 26 cents per share were “exactly in line with our expectations.” He adds that year-to-date acquisitions, combined with properties currently under contract, put ARCP “well ahead of schedule to achieve our total 2014 annual acquisition targets by midyear.”