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The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announced today that the trading of the common stock of American Realty Capital Trust Inc. ("ARCT") (Nasdaq:ARCT) commenced on the NASDAQ Global Select Market on March 1, 2012.
ARCT is a leading self-administered real estate company that owns and acquires single tenant free standing commercial real estate properties that are primarily net leased on a long-term basis to investment grade credit rated and other creditworthy tenants. ARCT's primary business objectives are to generate dependable monthly cash distributions from a consistent and predictable level of funds from operations per share and to grow cash available for distributions through accretive acquisitions and have embedded rental rate growth leases that provide for increasing cash rents over time. Today, ARCT's $2.7 billion portfolio (based on established enterprise value) consists of 485 properties aggregating almost 16 million square feet with broad diversification across industry, geography and tenancy. ARCT's portfolio is 100% occupied with a weighted average remaining lease duration of over 13 years.
"NASDAQ is thrilled for American Realty Capital Trust to begin trading its shares on the NASDAQ Global Select Market," said Bob McCooey, Senior Vice President, NASDAQ OMX Corporate Client Group. "NASDAQ is home to innovation in all forms, and we are happy to partner with American Realty Capital Trust to offer this important member of the REIT community opportunities for growth and success as a publically traded company."
"This marks our second listing on NASDAQ in less than one year," observed Nicholas S. Schorsch, Chairman of ARCT. "It was always our objective to build value for ARCT shareholders through the accumulation and deployment of capital. Now that this acquisition portfolio is stabilized, we will unlock that value by listing on NASDAQ."
ARCT joins some of the world's most progressive and innovative companies by listing on the NASDAQ Global Select Market, including its former affiliate, American Realty Capital Properties, Inc., which listed on the NASDAQ Capital Market, and more than 550 other financial and real estate companies. In 2011, NASDAQ welcomed 24 financial companies to its markets, over 70 percent more than any other U.S. exchange.
