Market Capitalization (Millions $) |
- |
Shares
Outstanding (Millions) |
801 |
Employees |
- |
Revenues (TTM) (Millions $) |
1,160 |
Net Income (TTM) (Millions $) |
-650 |
Cash Flow (TTM) (Millions $) |
-147 |
Capital Exp. (TTM) (Millions $) |
7,430 |
American Realty Capital Properties, Inc.
American Realty Capital Properties, Inc. was a publicly traded real estate investment trust (REIT) based in the United States. It primarily focused on acquiring, owning, and managing single-tenant commercial properties across various industries, such as retail, office, and industrial.
The company aimed to provide stable and growing dividends to its shareholders by leasing properties to well-established companies under long-term net lease agreements. This meant that the tenants were responsible for most of the property expenses, including taxes, maintenance, and insurance.
American Realty Capital Properties, Inc. experienced significant growth through acquisitions, expanding its real estate portfolio and diversifying its tenant base. However, in October 2014, the company admitted to intentionally manipulating its financial statements, leading to overstated financial performance and misleading investors.
As a result of the accounting scandal, the company faced legal and regulatory investigations, which caused significant damage to its reputation and financial stability. It ultimately filed for bankruptcy in May 2015 due to the severity of the accounting irregularities and the subsequent loss of investor confidence.
Following the bankruptcy, the company's assets were sold to various investors, and it underwent a rebranding as Vereit, Inc. in 2015. Under the new name, Vereit, Inc. continues to operate as a publicly traded REIT with a revised corporate structure.
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