Regions Financial Corporation (NYSE:RF) trades down, American Realty Capital Properties Inc (NASDAQ:ARCP)

Posted by Samantha Donahue June 3, 2013 0 Comment 1140 views


Regions Financial Corporation (NYSE:RF): Friday’s trading session saw Regions Financial Corporation (NYSE:RF) dropping by 2.67%. It opened at a price of $9.36 which reached an intraday high of $9.44 before heading down to close at $9.13 per share. More than 17.34 million shares were traded in the last trading session. This was above the average volume of 14.38 million that was measured over a 30-day period

Investors who are considering purchasing Regions Financial Corporation (NYSE:RF) stock, but are wary about shelling-out the on-going market price of $9.13/share, may profit from considering a sale of puts. One particularly interesting put contract is the 2015 January put at a $7 strike. At the time of writing, it has a 55 cents bid.

RF is a financial holding company. It operates across the Midwest, South and Texas. Regions Financial Corporation (NYSE:RF) provides traditional retail, commercial and mortgage banking services. It also provides other financial services in various fields such as investment banking, trust, securities brokerage, asset management, mutual funds, insurance as well as specialty financing. It conducts its banking operations via a commercial bank- Regions Bank.

American Realty Capital Properties Inc (NASDAQ:ARCP): Friday’s trading session saw American Realty Capital Properties Inc (NASDAQ:ARCP) dropping by 3.46%. It opened at a price of $15.72 which reached an intraday high of $15.92 before heading down to close at $15.23 per share. More than 17.09 million shares were traded in the last trading session. This was above the average volume of 2.97 million that was measured over a 30-day period

ARCP has agreed to buy 471 properties from GE, which is largely used by restaurants, for $807M. The company is doing so in order to diversify its holdings.

In a statement, New York-based American Realty said that the buildings are primarily rented to tenants who are engaged in national food chains such as Jack in the Box, IHOP, Taco Bell and Burger King. The deal indicates that the company has now attained its targeted $1.1 billion in acquisitions. The company said that it has been able to achieve this target five months prior to the stipulated date. Acquisition of this portfolio reiterates the company’s ability to be able to identify and purchase a pool of assets that have a branded clientele anchoring.


About Samantha Donahue

Samantha Donahue is a digital fellow with GDP insider. Samantha earned a Bachelor's degree in Government from Cornell University and later his Master's degree in Journalism from Columbia University. She has also received numerous awards from the Associated Press, Society of Professional Journalists, and other media organizations for many of her exclusive stories. Samantha thrives reporting on breaking news and as a general assignments news reporter.

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