RCS Capital Corp remains the securities industry's leader in raising money for privately traded real estate investment trusts despite a crisis that has hurt its stock and sales relationships, the company's chief executive said Wednesday. When industry rankings are published within the next week on equity raised for private REITs, RCS will remain "the industry's biggest fundraiser" despite a suspension of hundreds of selling agreements, RCS Chief Executive Michael Weil said at a conference in Florida sponsored by Merrill Lynch.Shares of RCS Capital have lost 44.8 percent of their value since American Realty Capital Properties announced a $23 million accounting error on October 29. Although RCS Capital executives have close ties to ARCP's affiliates, it is a separate company with separate accounting systems, Weil said."The rumors of our death have been significantly exaggerated," he said. (Reporting By Jed Horowitz; Editing by Chizu Nomiyama)
American Realty Capital Properties, Inc., is a real estate investment trust (REIT). Shares of ARCP traded higher by 0.22% or $0.02/share to $9.31. In the past year, the shares have traded as low as $7.38 and as high as $14.96. On average, 21214300 shares of ARCP exchange hands on a given day and today's volume is recorded at 4899048.
RCS Capital Corporation is a holding company. The Company is engaged in the business of wholesale broker-dealer, investment banking and capital markets business, a transaction management services provider and a transfer agent. Shares of RCAP traded higher by 5.86% or $0.55/share to $9.93. In the past year, the shares have traded as low as $8.94 and as high as $39.98. On average, 1313330 shares of RCAP exchange hands on a given day and today's volume is recorded at 814000.
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