PHOENIX—Shares of American Realty Capital Properties will switch from the Nasdaq Global Select Market to the New York Stock Exchange as of July 31, the net lease REIT said Monday. When the switch is made, those shares will trade under a new name, to be announced.

“In line with the many changes that we have made recently at the corporate level to re-position the company, we are excited to re-list under a new name and ticker symbol with the NYSE,” says Glenn Rufrano, ARCP's CEO. “I look forward to sharing more news about these positive changes, our business plan and continued enhancements to our corporate governance on the upcoming second quarter earnings call.”

Until the renamed company begins trading on the NYSE, its common stock and Series F preferred stock will continue trading on Nasdaq under the ARCP and ARCPP symbols, respectively. Post-changeover in name and stock exchange, the company expects to host its Q2 earnings call on Thursday, August 6.

For ARCP, Q2 began with the constitution of a new board. Berkadia's Hugh Frater was named non-executive chairman and Julie G. Richardson was appointed as an independent director, with both appointments effective immediately.

Rufrano, who took the reins at ARCP in March, mapped out his strategy for turning around the REIT—beset last fall by revelations of accounting irregularities and the resignations of its senior management team—at RealShare Net Lease this past April. In a one-on-discussion with Michael Desiato, ALM-Real Estate Media Group VP and group publisher, Rufrano pointed out that while serving as CEO of Centro Properties Group from 2007 to 2008, he had to sort through the aftermath of the firm misstating its long-term liabilities as short-term obligations. Previously, as CEO of New Plan Excel Realty Trust,“we had a similar situation and I took the stock from $11 to $33.”