American Realty CEO Schorsch stepping down

Nick Schorsch will hand over the CEO spot at American Realty Capital (ARCP +3.4%) to President David Kay on October 1 in what Schorsch says is a planned change. "This transition will allow me to focus on long-term and strategic initiatives, while David will drive day-to-day operations," says Schorsh, who will remain board chairman.

“We believe Mr. Kay will be more proactive in talking to investors and improve the company’s financial transparency as he builds out his executive team,” says Stifel's Simon Yarmak, who has a Hold rating on the stock.

Schorsch has been under some pressure of late for maybe not having management's interests perfectly aligned with those of shareholders.

Previously: Activist rumblings at American Capital

Previously: Over one-third vote against American Realty executive pay plan

Previously: ARCP boss skips golf; set to earn a fortune

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Comments (14)
  • kgerickson
    , contributor
    Comments (479) | Send Message
    A little late........ The news was out premarket with a letter to investors.
    20 Jun 2014, 03:51 PM Reply Like
  • James Bjorkman
    , contributor
    Comments (2778) | Send Message
    He said this was coming during the last earnings call for those paying attention. No surprise whatsoever. The timing is interesting to me, though - came perfectly timed imho from a technical chart perspective- stock was poised to crush some shorts.
    20 Jun 2014, 03:54 PM Reply Like
  • kgerickson
    , contributor
    Comments (479) | Send Message
    Agree totally..... Looks like the bottom is in.
    20 Jun 2014, 03:56 PM Reply Like
  • The Rebel
    , contributor
    Comments (2949) | Send Message
    A week ago I said this:


    "It looks like ARCP is making a bottom. On Wednesday, 6/11 it got down to $11.76, rallied up to $12, and then on Thursday it went back to $11.76 before a feeble rally to $11.88, and then tested the bottom again but only got down to $11.77. A move above $12.05 should signify that a bottom is in place."
    20 Jun 2014, 08:43 PM Reply Like
  • financeminister
    , contributor
    Comments (1230) | Send Message
    Let's see how this goes... started a position in my IRA at 12.40 and 11.90 to keep those checks coming in every month tax free.
    20 Jun 2014, 04:25 PM Reply Like
  • alschroed
    , contributor
    Comments (1622) | Send Message
    Great, as long Mr. Schorsch stops taking all the money for himself and his cronies. Let the shareholders like me benefit.
    20 Jun 2014, 05:04 PM Reply Like
  • JDoe20
    , contributor
    Comments (1471) | Send Message
    Alschroed, you know that $1.5B isn't enough for nick!
    21 Jun 2014, 12:32 AM Reply Like
    , contributor
    Comments (123) | Send Message
    Maybe they will settle down for a while.
    21 Jun 2014, 09:13 AM Reply Like
    , contributor
    Comments (262) | Send Message
    Ever heard of a "dead cat bounce"?
    21 Jun 2014, 12:05 PM Reply Like
  • Erbois
    , contributor
    Comments (223) | Send Message
    Yes, that's one expression of the Mad Clown with very limited vocabulary, who works at CNBC.
    22 Jun 2014, 04:30 AM Reply Like
  • srmcharts
    , contributor
    Comments (132) | Send Message
    Closed half the position I took in Dec. two weeks +/- ago . Liked the stock but don't trust the CoB . Arcp up 3+ % yesterday . I used the money to buy a handful of tnxp , up 11+ % yesterday . Nick is still in charge which means nothing has changed . This stock needs time and a couple of good earning reports . Bottom fishing on this one could be tricky . Where ever it goes from here the next correction could bring a test of these current lows ( and a safer entry point ) . Good luck
    21 Jun 2014, 03:18 PM Reply Like
    , contributor
    Comments (262) | Send Message
    SRM - couldn't agree with you more.
    22 Jun 2014, 10:33 AM Reply Like
  • Union Trade Assoc
    , contributor
    Comments (1171) | Send Message
    This change in no way limits Schorsch from continuing to exercise
    targeted acquisitions. [READ] while Kay assumes only daily operations and the assembly of an Executive Management Team.
    [ Analysis Opinion ] because Schorsh has been less than forthcoming of Investor concerns.


    Kay now runs block for Schorsch, whose answered for nothing.
    The deceitful promotion of a Retail Spin-off which rewarded Investors in ARCP in exchange for an out right sale of assets, a reduction in equity, loss of additional dividends and further delusion by the sale of shares which at best keeps the current dividend alive under pretense of funding the R.L properties purchase.


    The only move available, is the sale of Cole .. leaving Investors with near half the original assets & nearly double the amount of shares.
    [ @ srmcharts is correct ] but for any anticipated Market correction.


    ARCP will come apart at the seams following the next Quarterly Report.
    23 Jun 2014, 12:26 PM Reply Like
  • srmcharts
    , contributor
    Comments (132) | Send Message
    Gentlemen , you're preaching to the choir .


    Is there any reason why the stock should be trading much higher from here ?


    AND let me state up front . This is a stock in a market of stocks . I've picked some winners and had some losers . So , if I'm wrong here than I'm wrong here . You can say you told me so .


    Until Nick proves us wrong we must expect the future to reflect the past . Your money is on the line . What good is a 7% div. if you lose 12% of your principle . How long do you sit on a stock hoping it will prove you right ? I'm not here calling Nick a bunch of bad names , the man just has a credibility problem . Until that changes why in good conscious would you put your money at risk . It's just good investing not to do so .
    We're here to help each other , share our insights and experiences . To teach and to learn .
    So if you think I'm wrong or missing something , give me the facts , educate me . I want to learn , I want to be a better investor and I want you to be one too .
    Good luck ----- If you're keeping score : arcp -.32 % today , tnxp + 5.56 %
    24 Jun 2014, 12:46 AM Reply Like
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