American Realty Capital Properties Inc
Corvex Adds to Its Stake in Lamar Advertising
Corvex Management added to its stake in Lamar Advertising (LAMR). The position accounted for 4.15% of the fund’s total portfolio in the fourth quarter.
4Q14 portfolio of David Tepper’s Appaloosa Management
David Tepper’s Appaloosa Management initiated new positions and sold some existing positions during the fourth quarter of 2014.
Appaloosa Management reduces stake in the Priceline Group
The Priceline Group is a leading player in the online travel services industry. The company’s primary brands include Priceline.com, Booking.com, and KAYAK.
Appaloosa Management exits stake in Facebook
Facebook is a social networking channel with 1.39 billion total users and 890 million daily active users worldwide as of December 2014.
Luxor Capital Group amends 13D in RCS Capital Corporation
According to Luxor Capital Group’s latest 13D filings, the fund increased its stake in RCS Capital Corp. (RCAP) by more than 2.1 million shares.
Point72 Asset Management increases its position in RCS Capital
In November, RCS Capital terminated a $700 million deal to acquire Cole Capital from ARCP. The companies announced the deal prior to ARCP’s disclosure of accounting errors.
ARCP’s Cole Capital acquisition ended due to accounting issue
In November, RCS Capital terminated a $700 million deal to acquire Cole Capital from ARCP.
Overview of ARCP’s private capital management business
ARCP owns aggregate equity investments of $3.9 million in publicly registered, non-traded REITs.
Must-know: American Realty Capital Properties’ businesses
As of June 30, ARCP owned 3,966 properties comprising 106.8 million square feet of single and multi-tenant retail and commercial space located in 49 states.
ARCP shareholder Marcato questioned equity issuance
Even before accounting errors were disclosed, activist hedge fund shareholder Marcato Capital criticized American Realty for its acquisition strategy and equity issuance.
Corvex Management discloses activist stake in ARCP
Activist investment firm Corvex Management recently disclosed a 7.1% stake in REIT American Realty Capital Properties.
Luxor Capital ups stake in RCS Capital
RCAP, which has a ~$1.24 billion market cap, is an investment firm that focuses on the retail investor.
Recommendation: Watch out for lots of REIT earnings this week
The week after the jobs report is very light, data-wise. That said, we have a lot of earnings next week—especially in the REIT sector, with heavyweights Vornado (VNO) and Annaly Capital (NLY) reporting.