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Spirit Realty Sets Date for REIT Spinoff

On June 1 Spirit Realty’s shares will continue to trade on the NYSE under "SRC," and Spirit MTA REIT will begin trading under "SMTA."

Spirit Realty CEO Jackson Hsieh

DALLAS–The launch date for Spirit Realty Capital’s spinoff of its assets leased to Shopko Retail Shops Holding Corp. has been set by the Board of Directors.  The distribution of common stock of Spirit MTA REIT will happen on or about May 31. On the next trading day, June 1, Spirit Realty Capital’s shares of common stock will continue to trade on the NYSE under the ticker symbol “SRC,” and Spirit MTA REIT’s common stock will begin trading on the NYSE under the ticker symbol “SMTA.”

Each SRC shareholder will receive one share of SMTA common stock for every ten shares of Spirit common stock.

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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