News Spotlight: American Finance Trust (NASDAQ:AFIN) announces its financial and operating results

American Finance Trust (NASDAQ:AFIN) changed 0.11% to recent value of $9.17. The stock transacted 456493 shares during most recent day however it has an average volume of 541.61K shares. It spotted trading -29.97% off 52-week high price. On the other end, the stock has been noted 118.33% away from the low price over the last 52-weeks.

On Feb. 24, 2021, American Finance Trust (NASDAQ:AFIN) a real estate investment trust focused on acquiring and managing a diversified portfolio of primarily service-oriented and traditional retail and distribution related commercial real estate properties located primarily in the U.S., disclosed  its financial and operating results for the quarter and year ended December 31, 2020.

Fourth Quarter 2020 and Subsequent Events Highlights        

  • Revenue increased 1% to $77.2 million from $76.2 million in the fourth quarter 2019
  • Net loss attributable to common stockholders was $8.6 million, or $0.08 per diluted common share, compared to a net loss of $4.8 million, or $0.04 per diluted common share for the fourth quarter 2019
  • Cash Net Operating income (Cash NOI) grew by 2% to $58.7 million as compared to $57.7 million for the fourth quarter 2019
  • Funds from Operations (FFO) grew by 14% to $25.5 million, or $0.23 per diluted share, compared to $22.4 million, or $0.21 per diluted share, for the fourth quarter 2019
  • Adjusted Funds from Operations (AFFO) increased 3% to $26.1 million, or $0.24 per diluted share, from $25.2 million, or $0.24 per diluted share, in the prior year fourth quarter and increased 2.4% from $25.5 million, or $0.23 per share in the third quarter 2020
  • Raised gross proceeds of $88.4 million from a public offering of 7.375% Series C Cumulative Redeemable Perpetual Preferred Stock
  • Conservative Net Leverage1 of 40.2% and ample Liquidity2 of $228.9 million at year end
  • Closed on the acquisition of 35 properties for an aggregate contract purchase price3 of $61.3 million at a weighted average capitalization rate of 9.2%4
  • Collected over 96% of cash rent due in fourth quarter 20205, including 99% in single tenant portfolio, 88% in the multi-tenant portfolio, and 99% among the top 20 tenants6

 AFIN has a gross margin of 73.40% and an operating margin of 14.20% while its profit margin remained -14.10% for the last 12 months. Its earnings per share (EPS) expected to touch remained 91.80% for this year.

 The company has 108.43M of outstanding shares and 108.35M shares were floated in the market. The price moved ahead of 14.01% from the mean of 20 days, 16.93% from mean of 50 days SMA and performed 24.82% from mean of 200 days price. Company’s performance for the week was 9.17%, 18.48% for month and YTD performance remained 23.42%.

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