American Realty Capital slips after downgrade

|By:, SA News Editor

American Realty Capital Properties (ARCP) is off 1% premarket as Ladenburg Thalmann cashes in its chips, downgrading to Neutral from Buy. The stock's had a nice run this year - up 12.8% - but nothing out of line with the rest of the REIT sector. Reaction to last week's plan to spin off ARCP's multi-tenant shopping center unit has been muted thus far.