American Finance Trust, Inc.
NASDAQ Global SelectCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Edward Weil
- Sector
- Real Estate
- Industry
- REIT - Diversified
- Address
- 650 FIFTH AVE, 30TH FLOOR New York City NY United States of America 10019
- IPO Date
- Jun 19, 2017
- CIK
- 0001568162
- Website
- americanfinancetrust.com
- Similar Companies
- Business
- American Finance Trust, Inc. (Nasdaq: AFIN) is a publicly traded real estate investment trust that acquires and manages a diversified portfolio of primarily service-oriented commercial properties, traditional retail properties, and distribution-related real estate in the United States. The company focuses on net leased properties to investment grade and creditworthy tenants, as well as stabilized core retail properties including power centers and lifestyle centers; its portfolio encompasses retail, industrial, office, and healthcare facilities with long-term triple-net leases that generate stable cash flows. American Finance Trust, Inc. operates through its operating partnership, American Finance Operating Partnership, L.P., and serves institutional and retail investors seeking income-producing real estate exposure in secondary and tertiary U.S. markets. Founded in 2013 and headquartered at 650 Fifth Avenue, 30th Floor, New York, New York, the company maintains a portfolio exceeding 900 properties and 29 million square feet with high occupancy rates and embedded rent escalators. In recent years, American Finance Trust, Inc. completed a transformative $1.3 billion acquisition of 81 multi-tenant power-anchored and grocery-anchored shopping centers from CIM Real Estate Finance Trust, Inc. in early 2022, which expanded its necessity retail focus, increased multi-tenant occupancy to 91%, reduced office exposure to 1%, and positioned it as a leading REIT in the sector with over 1,000 properties; the deal included $53.4 million in stock consideration and performance-based metrics. The company sold a non-core portfolio of three office buildings leased to Sanofi for $261 million in January 2022 at a 6.38% cash cap rate to fund the acquisition and deleverage its balance sheet. Additional activity includes $180 million in retail property acquisitions in 2021 across 69 properties, lease extensions adding $7.2 million in straight-line rent, and 167 new leases or renewals totaling 1.7 million square feet, alongside a new $415 million unsecured credit facility.
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