DALLAS--(BUSINESS WIRE)--Spirit MTA REIT (NYSE:SMTA) (“SMTA” or the “Company”) announced today that the Company will ring the opening bell at the New York Stock Exchange (“NYSE”) today, June 25, 2018, to celebrate the Company’s recently completed spin-off and listing on the NYSE. The Company began trading on the NYSE on June 1, 2018 under the ticker symbol “SMTA,” following its spin-off from Spirit Realty Capital, Inc. (NYSE:SRC).
SMTA Interim Chief Executive Officer, Chief Financial Officer and Treasurer Ricardo Rodriguez and Spirit Realty Capital President and Chief Executive Officer Jackson Hsieh will be joined on the podium by SMTA’s Board of Trustees and members of Spirit Realty Capital’s senior leadership team.
“Today we are proud to ring the opening bell to celebrate SMTA’s trading as a standalone public company, which offers shareholders the ability to invest in a net lease REIT with a clearly defined strategy to monetize non-core assets while optimizing and growing the value of our diversified and seasoned master funding vehicle. We will work diligently with our dedicated asset manager, Spirit Realty Capital, and our independent Board of Trustees to maximize stockholder value,” stated Mr. Rodriguez.
A live feed of the ceremony will be available at
https://livestream.com/ICENYSE/SpiritMTAREITWebcast at 9:30am ET.
About Spirit MTA REIT
Spirit MTA REIT (NYSE: SMTA) is a net-lease real estate investment trust (REIT) headquartered in Dallas, Texas. SMTA owns one of the largest, most diversified and seasoned commercial real estate backed master funding vehicles. Our strategy relies on the disposition of non-core properties, disciplined acquisitions, proactive portfolio management and return of capital to shareholders. SMTA is managed by Spirit Realty Capital, Inc. (NYSE: SRC), one of the largest publicly traded triple net-lease REITs.
Forward-looking and Cautionary Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements can be identified by the use of words such as "expect," "plan," "will," "estimate," "project," "intend," "believe," "guidance," and other similar expressions that do not relate to historical matters. These forward-looking statements are subject to known and unknown risks and uncertainties that can cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, SMTA REIT’s ability to realize its asset disposition plan by selling down assets leased to Shopko; SMTA REIT’s significant leverage, which may expose it to the risk of default under its debt obligations; risks associated with using debt to fund SMTA REIT’s business activities (including its ability to use Master Trust 2014, an asset-backed securitization trust, as its main financing vehicle, changes in interest rates and conditions of the debt capital markets, generally); SMTA REIT’s dependence on its external manager, Spirit Realty, L.P., to conduct its business and achieve its investment objectives; SMTA REIT’s continued ability to source new investments; unknown liabilities acquired in connection with acquired properties or interests in real-estate related entities; general risks affecting the real estate industry and local real estate markets (including, without limitation, the market value of SMTA REIT’s properties, the inability to enter into or renew leases at favorable rates, portfolio occupancy varying from expectations, dependence on tenants’ financial condition and operating performance, and competition from other developers, owners and operators of real estate); the financial performance of SMTA REIT’s tenants and the demand for traditional retail and restaurant space; potential fluctuations in the consumer price index; risks associated with SMTA REIT’s failure to maintain its status as a REIT under the Internal Revenue Code of 1986, as amended, and other additional risks discussed in SMTA REIT’s most recent filings with the SEC, including its registration statement on Form 10, as amended. SMTA REIT expressly disclaim any responsibility to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.