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At A Glance

REIT Name: American Finance Trust

IPO Date: April 2013

Total Equity Raised: $1.6 billion

Property Focus: Single-Tenant Net-Lease

Total Properties: 487

Self-Managed: No

Advisor: American Finance Advisors LLC

Share Redemption Plan: Yes

Website: www.arct-5.com

Balance Sheet (as of 12/31/16) (in thousands except share data)

Total Assets $2,064,459

Total Liabilities $1,079,593

Shareholders' Equity $984,866

Shares Outstanding 65,805,184

Operating Data (01/01/16 through 12/31/16)

Total Revenues $177,668

Total Expenses $232,540

Net Income (Loss) $(54,255)

Net Income (Loss) Per Share $(0.83)

Cash Provided by Operations $73,369

Dividends Declared $118,004

Dividends Per Share $1.65

Funds From Operations (FFO) $73,733

FFO Per Share $1.127

Summary

Began IPO in April 2013 and raised approximately $1.6 billion upon this offering becoming fully subscribed in October 2013. As of December 31, 2016, company has purchased and owns 455 freestanding, single-tenant properties in 37 states for a total base purchase price of $2.2 billion. These properties comprise 13.3 million rentable square feet and are 100% leased with a weighted average remaining lease term of 9.1 years. Total debt was 50% of total assets at end of December. FFO per share for 2016 was $1.127, down 7% from $1.218 for 2015. Dividendsto-FFO ratio for 2016 was 146%, up from 135% for 2015. MFFO per share for 2016 was $1.072, down 14% from $1.253 for 2015. Dividends-to-MFFO ratio for 2016 was 154%. Reported an updated share value of $23.37, as of December 31, 2016. Sold three properties in first quarter of 2017 for $148.0 million. In February 2017 the company acquired by merger nonlisted REIT American Realty Capital Retail Centers of America which owned 35 retail properties. Including these properties, the company owns 490 properties consisting of 20.8 million square feet that are 97.3% leased. The company issued approximately 38.2 million shares of common stock and paid $94.3 million in cash in connection with this merger. Company plans to list shares on NYSE at a time yet to be determined following completion of this merger. 


Data referenced from the Direct Investments Spectrum
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