American Finance Trust, Inc. (AFIN) Reports Q2 Loss of $0.11

American Finance Trust, Inc. (NASDAQ: AFIN) reported Q2 EPS of ($0.11). Revenue for the quarter came in at $71.1 million.

Michael Weil, Chief Executive Officer, commented, "We are excited to be listed on the Nasdaq and to be publishing our quarterly results for the first time as a publicly traded company. We have demonstrated strong execution of our investment strategy and have closed on $71.9 million in transactions as of June 30, 2018 and have a robust pipeline of future acquisitions, concentrated in service retail properties, that we expect to close later this year. Our closed and pipeline acquisitions reflect a weighted-average GAAP capitalization rate6 of 8.3%, a weighted-average going-in capitalization rate of 7.2%7, and 16.9 years of remaining lease term. With the Company's new $415 million credit facility at attractive terms, we believe we are well-positioned to finance our growth. Additionally, we believe we have the opportunity to increase our strong occupancy of 94.6% through continuing lease-up as we capture embedded rent growth from our creditworthy tenant base."

Mr. Weil continued, "Our portfolio averages 1.3%8 annual contractual rent growth with over 80% of our leases containing rent escalators and our portfolio derives most of its rent from investment grade or implied investment grade tenants. With 560 primarily single-tenant and multi-tenant service retail properties we have a large and diverse mix that provides consistent cash flow to support a sustainable dividend."

For earnings history and earnings-related data on American Finance Trust, Inc. (AFIN) click here.

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