June 5, 2020

Keep Your Eyes on Stock News: American Finance Trust (NASDAQ:AFIN)

American Finance Trust (NASDAQ:AFIN) stock identified change of 64.76% away from 52-week low price and recently located move of -54.41% off 52-week high price. It has market worth of $797.60M and dividend yield of 12.13%. AFIN stock has been recorded -8.40% away from 50 day moving average and -41.94% away from 200 day moving average. Moving closer, we can see that shares have been trading 0.44% off 20-day moving average.

On May 06, 2020, American Finance Trust (NASDAQ:AFIN) a real estate investment trust focused on acquiring and managing a diversified portfolio of primarily service-oriented1 and traditional retail and distribution related commercial real estate properties in the U.S., reported its financial and operating results for the first quarter ended March 31, 2020.

First Quarter 2020 Highlights

  • Revenue increased 4% to $74.6 million as compared to $71.5 million for the first quarter 2019
  • Net loss attributable to common stockholders was $9.2 million, or $0.08 per diluted share, compared to a net loss of $3.2 million, or $0.03 per diluted share, for the first quarter 2019
  • Cash net operating income (NOI) grew by 6% to $59.0 million compared to $55.7 million for the first quarter 2019
  • Funds from Operations (FFO) was $23.7 million, or $0.22 per diluted share compared to $26.8 million, or $0.25 per diluted share, for the first quarter 2019
  • Adjusted Funds from Operations (AFFO) was $25.2 million, or $0.23 per diluted share, compared to $26.3 million or $0.25 per diluted share in the prior year first quarter
  • Announced a dividend change to be paid beginning in April for the second quarter to $0.21 per share per quarter, or $0.85 per share on an annualized basis, expected to strengthen AFIN’s cash flow by $6.8 million per quarter
  • Closed on the acquisition of 31 properties for an aggregate contract purchase price of $90.0 million2 at a 7.4% weighted average cash capitalization rate3 and a weighted-average capitalization rate4 of 8.4%
  • Total multi-tenant occupancy increased to 87.3% from 85.0% year-over-year
  • High quality portfolio with 66% of tenants in single-tenant portfolio and 44% of the top 10 tenants5 in multi-tenant portfolio rated as investment grade or implied investment grade6
  • Annual rent escalators7 averaging 1.3% per year in 80.9% of leases provide contractually embedded rent growth
  • Ample Liquidity8 of $215.0 million after borrowing an additional $153 million under credit facilities in March to enhance financial flexibility in response to COVID-19.

The Real Estate sector company, American Finance Trust noticed change of -1.28% to $6.92 along volume of 508540 shares in recent session compared to an average volume of 702.03K shares. The stock observed return of -6.28% in 5 days trading activity. The stock was at 40.76% over one month performance. AFIN’s shares are at -46.85% for the quarter and driving a -28.69% return over the course of the past year and is now at -47.13% since this point in 2018.

The average volatility for the week at 10.57% and for month was at 10.00%. There are 113.78M shares outstanding and 108.21M shares are floated in market.