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American Realty Capital Trust, Inc. ("ARCT" or the "REIT") announced today that its Board of Directors has approved an increase in its annual cash distribution from $.65 to $.67, paid monthly.
American Realty Capital Trust, Inc. ("ARCT" or the "REIT") announced today that its Board of Directors has approved an increase in its annual cash distribution from $.65 to $.67, paid monthly. Based on a $10.00 share price, this 20 basis point increase, effective January 2, 2009, will result in an annualized distribution rate of 6.7%. The increased distribution comes after less than one full year of operations.
"We are excited to be in a position to increase our distributions to our shareholders so soon, while continuing to cover our distributions from funds from operations," said Nicholas Schorsch, CEO of American Realty Capital. "We are committed to continuing to grow and diversify ARCT's property portfolio for the benefit of our shareholders."
"American Realty Capital's management team is dedicated to the principle that distributions should be derived from cash flows generated from our real estate operations," said Mr. Schorsch. "From its inception we have designed ARCT's acquisition program to cover and grow our distributions. Our plan is working. In these unprecedented times, we continue to deliver shareholder value."
American Realty Capital Trust, Inc., which invests in freestanding, single-tenant commercial real estate net leased long term to investment-grade tenants, has acquired to date a portfolio of 42 properties with a total purchase price $106,919,295, producing $7,626,708 in annual base rent. ARCT anticipates rental revenues should allow the REIT to continue to cover fully distributions from funds from operations.
American Realty Capital is a real estate finance and investment firm formed by Nicholas S. Schorsch and William M. Kahane. As CEO and board member, respectively, the two were behind the growth of American Financial Realty Trust, where they acquired over 1,500 properties valued at more than $5 billion. In the last five years, ARC's executive team has collectively negotiated and closed on over $7 billion of bank branch and net leased real estate. ARC sponsors American Realty Capital Trust, Inc., a publicly-registered, non-traded REIT acquiring freestanding, single-tenant properties net-leased long term to investment grade and creditworthy tenants. Realty Capital Securities, member FINRA, SIPC, is the dealer-manager for ARCT.
For more information, visit www.americanrealtycap.com.
This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors.
This material does not constitute an offer to sell nor a solicitation of an offer to buy any securities described herein or otherwise. Only a prospectus for a specific securities offering makes such an offer. In that regard, the use of this material is authorized only when it is accompanied or preceded by a prospectus. Further, all information contained in this material is qualified by the terms of a current Prospectus of the offering of securities to which it relates, if any.
This material may contain forward-looking statements that involve assumptions, uncertainties and risks, some of which are set forth below. These statements are not guarantees and should not be regarded as representations that the results or conditions described in such statements, or that our objectives and/or plans, will be achieved.
A real estate investment program offering is subject to the following Risks: The failure to qualify, or maintain the requirements, to be taxed as a REIT would reduce the amount of income available for distribution and limit a REIT's ability to make distributions to its stockholders. No public market initially exists for a REIT's shares of common stock, and one may never exist for this or any other such type of real estate program. Securities are being offered on a best efforts basis. These are speculative securities and as such involve a high degree of risk. There are substantial conflicts among an offering and its sponsor, advisor, dealer manager and property manager. There is no assurance that the value of the real estate will be sufficient to return any portion of investors' original capital. Operating results will be affected by economic and regulatory changes that have an adverse impact on the real estate market and we cannot assure you that there will be growth in the value of the properties.
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Realty Capital Securities, LLC, Three Copley Place, Suite 3300, Boston, MA 02116, T 877-373-2522
American Realty Capital Trust, Inc., 405 Park Avenue, 15th Floor, New York, NY 10022, T 212-415-6500
American Realty Capital Advisors, LLC, 106 York Road, Jenkintown, PA 19046, T 215-887-2189
Realty Capital Securities, LLC (Member FINRA/SIPC), an affiliate of American Realty Capital Trust, Inc., is the dealer-manager for American Realty Capital Trust, Inc. Investors should consider a fund's investment objectives, risks, charges and expenses before investing. The Prospectus contains this as well as other important information. Carefully read and consider the information contained in the Prospectus before you invest or send money. The information on this site must be read in conjunction with the Prospectus in order to fully understand all the implications and risks of the offering of securities to which it relates. A copy of the Prospectus must be made available to you in connection with this offering.
Properties depicted in the photographs are of assets held in either American Realty Capital's current offerings or past real estate investment programs sponsored by American Realty Capital.
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