|
New York-based ARCP said that due in part to the acquisition, it is raising its 2014 adjusted funds from operations forecast to $1.19 to $1.25 per share. Its prior guidance was for 93 cents per share. Funds from operations, or FFO, is a key measure of profitability for REITs that adds back items like amortization and depreciation to net income. The buyout is expected to close by the third quarter's end. ARCP's stock rose $13.53, or 91.4 percent, to $28.33 before the market open.
Copyright 2013 The Associated
Press. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor