American Finance Trust, Inc. | Dividend Stocks
David Garner
Dividend Stock | NASDAQ: AFIN
American Finance Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns and operates a commercial real estate portfolio comprising high-quality single and multi-tenant properties that in the service-retail sector.
- Market Capitalization: $0.98bn
- Dividend Yield: 10.42% p.a. (September, 2021)
The stock is listed on the Nasdaq under the ticker AFIN, and the company currently pays quarterly dividends to common and preferred stockholders.
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Business Overview
This REIT aims to purchase freestanding, single tenant properties that are net leased to investment grade and other creditworthy tenants, as well as anchored, stabilized core retail properties, including power centers and lifestyle centers.
The majority of the company’s real estate portfolio is leased on long-term leases of 10+ years. They also also originate and purchase 1st position mortgages and other commercial real estate assets.
The portfolio operates with a target leverage of 45% LTV or less, and is diversified across different geographical areas, tenants, lease terms and other factors.
Management
Michael Weil is Chairman of the Board at American Finance Trust, Inc. He is a founding partner of AR Global, and has previously served as Senior VP of sales and leasing for American Financial Realty Trust, as well as serving as president of the Board of Directors of the Real Estate Investment Securities Association.
Lisa Kabnick is Lead Independent Director at American Finance Trust, Inc. She has been an independent director of the Company since August 2015. Mrs. Kabnick has served as AFIN’s nominating and corporate governance committee chair since April 2016 and also has served as lead independent director since March 2018.
Leslie Michelson is an Independent Director at American Finance Trust, Inc. He has been an independent director of the Company since February 2017. He is also Chairman and CEO of Private Health Management. Between April 2002 until December 2006, Mr Michelson was Vice Chairman and Chief Executive Officer of the Prostate Cancer Foundation, the world’s largest private source of prostate cancer research funding, and served on its board of directors from January 2002 until April 2013.
Stanley Perla is an Independent Director at American Finance Trust, Inc. He has been an independent director of the Company since April 2013. Mr Perla has extensive background in real estate, accounting, and audit with over 40 years industry experience.
Edward Rendell is an Independent Director at American Finance Trust, Inc. he has been an independent director of the Company since February 2017. Mr Rendell is the 45th Governor of the Commonwealth of Pennsylvania, serving from 2003 through 2011. He was also elected Mayor of Philadelphia from 1992 through 2000.
Jason Doyle is Chief Financial Officer, Treasurer and Secretary at American Finance Trust, Inc. Mr. Doyle was formerly the Chief Accounting Officer of Global Net Lease. He has served as Acting Vice President Finance at Markforged, Inc., Associate Controller, Head of Global Accounting Operations at Charles River Associates and Vice President Finance and Practice Director, Transportation at AST Corporation. Mr. Doyle is a certified public accountant in the State of Rhode Island, holds a B.S. from the University of Rhode Island and an M.B.A. from Babson College.
Jason Slear is Executive Vice President of Real Estate Acquisitions and Dispositions at American Finance Trust, Inc. Mr Slear has managed the acquisition of over $3.5 billion of real estate assets and the lease-up of over 10 million square feet during professional career.
Boris Korotkin is Senior Vice President of Capital Markets and Corporate Strategy at American Finance Trust, Inc. He is responsible for leading all debt capital market transactions, and was formerly Executive Vice President of Transaction Structuring for American Financial Realty Trust.
Stephanie Drews is Vice President, Regional Asset Management American Finance Trust, Inc. Ms. Drews has over 20 years of retail asset management, leasing and finance experience. She oversees the growth strategy for all multi-tenant retail assets for the western half of U.S multi-tenant portfolio.
Donald Foster is Vice President, Regional Asset Management American Finance Trust, Inc. Mr. Foster has over 38 years of retail asset and property management, leasing and marketing experience. he oversees the growth strategy for all multi-tenant retail assets for the eastern half of U.S multi-tenant portfolio.
Stock Price and Dividends
As of September, 2021, American Finance Trust, Inc. common stock was trading at $8.32, with a 52-week range of $5.40 to $10.69
As of Q3 2021, the company had distributed dividends as follows:
Class A Common Stock at an annualized rate of$0.85 per share or $0.2125 per share on a quarterly basis, equating to an annualized yield of circa. 10.42% p.a.
Series A Preferred Stock and at an annualized rate of $1.875 per share or $0.46875 per share on a quarterly basis, equating to an annualized yield of circa. 7.50% p.a.
Series C Cumulative Redeemable Perpetual Preferred Stock at an annualized rate of $1.84375 per share or $0.4609375 per share on a quarterly basis, equating to an annualized yield of circa. 7.375% p.a.
