On Wednesday American Finance Trust (NASDAQ:AFIN) stock price moved up at 0.61%. Its total market capitalization is $1577747200. Its day lowest price was $14.7 and its hit its day highest price at $14.99. The stock recent volume is 893518 shares in comparison to its average trading volume of 646129 shares. Looking at the stock’s price level on the past 52-week graph, AFIN recorded a 52-week high of $15.09 and its 52-week low of $ISTR.
On Nov. 6, 2019, American Finance Trust (NASDAQ:AFIN) a real estate investment trust focused on acquiring and managing a diversified portfolio of primarily service-oriented12 and traditional retail and distribution related commercial real estate properties in the U.S., reported its financial and operating results for the third quarter ended September 30, 2019.
Third Quarter 2019 Highlights
- Revenue was $72.9 million, down 3% compared to $74.9 million for the third quarter 2018
- Net loss attributable to common stockholders was $2.9 million, or $0.03 per diluted share, compared to a net loss of $27.2 million, or $0.26 per diluted share, for the third quarter 2018
- Funds from Operations (FFO) was $25.0 million, or $0.24 per diluted share up $0.17 per share from $7.9 million, or $0.07 per diluted share, for the third quarter 2018
- Adjusted Funds from Operations (AFFO) was $23.4 million, or $0.22 on a per share basis, compared to $24.9 million or $0.24 on a per share basis, in the prior year third quarter
- Cash net operating income (NOI) grew by 4% to $55.2 million compared to $53.0 million for the third quarter 2018
- Closed on the acquisition of 69 properties for $178.8 million1 at a 7.2% weighted average cash capitalization rate4 and a weighted-average capitalization rate2 of 7.7%
- Closed acquisitions increase annualized straight-line rent3 by $13.6 million which, due to closings at the end of the third quarter, will have full impact in fourth quarter 2019
- Over $360.0 million in year to date acquisitions at a weighted average cash capitalization4 rate of 7.2% and a weighted average capitalization rate of 8.0% with 12.8 years of average remaining lease term5
- Liquidity6 of $255.4 million to be used for future acquisitions to the extent available
- Total multi-tenant occupancy increased to 89.1%7 from 85.1% in the prior quarter and executed occupancy8 grew to 90.2% from 88.0% in prior quarter
- 6% of tenants in single-tenant portfolio and 38.5% of anchor tenants9 in multi-tenant portfolio rated as investment grade or implied investment grade10
- Annual rent escalators11 averaging 1.3% per year in 81.0% of leases provide contractually embedded rent growth
Anthony Bell is a self-taught investor and follows the value investing approach to picking stocks. He possesses over 8 years of investment experience, an M.B.A. and is also certified in Risk Management Assurance. Anthony is a Certified Internal Auditor, Data Miner, and author with a career broadly spanning over multiple business areas. He has exploited those observations and developed investment tactics within a fundamentally sound long-term investment strategy. He currently covers Earnings News category for our site.
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