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American Finance Trust, Inc. (Nasdaq: AFIN) will release its third-quarter financial results on November 3, 2021, after Nasdaq trading closes. A conference call is scheduled for November 4, 2021, at 11:00 a.m. ET, where management will discuss performance and answer questions from analysts and investors. This call can be accessed live via the AFIN website. AFIN focuses on acquiring and managing a diversified portfolio of commercial real estate properties across the U.S. The company advises that forward-looking statements may involve risks and uncertainties.
On October 7, 2021, American Finance Trust, Inc. (AFIN) successfully completed a $500 million senior unsecured note offering due in 2028, with an effective interest rate of 4.50%. The offering was well-received and upsized from an initial $400 million, indicating strong demand from institutional investors. Ratings from S&P and Fitch were BB+.
Proceeds will be used to repay existing debts and fund acquisitions. The transaction enhances AFIN's capital structure and extends its debt maturity to over six years, supporting future growth.
American Finance Trust, Inc. (AFIN) has amended its existing $540 million revolving credit facility, increasing it to $815 million. The new facility matures in 4.5 years and offers favorable terms, including a 15 basis point lower margin. An accordion feature allows for an additional $435 million, raising the total potential to $1.25 billion. CEO Michael Weil highlighted that this move strengthens the balance sheet and supports acquisition strategies. Furthermore, competitive interest rates are contingent on achieving a credit rating upgrade from major agencies.
American Finance Trust (Nasdaq: AFIN/AFINO/AFINP) announced its continued commitment to pay dividends on Class A common stock at an annualized rate of $0.85 per share, which translates to $0.2125 quarterly. A dividend of $0.2125 per share has been declared, payable on October 15, 2021, to shareholders who are on record as of October 12, 2021. The dividends will be disbursed quarterly in arrears on the 15th of the month following each fiscal quarter.
American Finance Trust, Inc. (AFIN) announced the pricing of $500 million aggregate principal amount of new 4.50% Senior Notes due 2028. The issuance is expected to close around October 7, 2021. Proceeds will be used to repay approximately $186.2 million borrowed under the Credit Facility, $125 million of certain mortgage notes, and for future property acquisitions and other general corporate purposes. The Notes were offered under Rule 144A and Regulation S of the Securities Act, and have not been registered.
American Finance Trust, Inc. (AFIN) announced a plan to offer $400 million in seven-year senior unsecured notes, subject to market conditions. The proceeds will be used to repay existing borrowings under their revolving credit facility and mortgage notes, as well as fund future acquisitions and general corporate purposes. The notes will not be registered under the Securities Act and will only be offered to qualified institutional buyers. This initiative reflects AFIN's strategy to optimize its capital structure and finance growth opportunities.
American Finance Trust, Inc. (Nasdaq: AFIN) announced quarterly dividends for its Series A and Series C Cumulative Redeemable Perpetual Preferred Stock. AFIN declared a dividend of $0.46875 per share for Series A, payable on October 15, 2021, to holders of record by October 5, 2021. Additionally, a dividend of $0.4609375 per share for Series C will also be payable on October 15, 2021. The annualized rates are 7.50% for Series A and 7.375% for Series C, reflecting AFIN's commitment to providing income to shareholders.
American Finance Trust (AFIN) reported strong second-quarter results for 2021, with revenue rising 8.9% to $81.6 million. The company achieved a notable cash net operating income (NOI) growth of 19.7% to $65.4 million. While the net loss attributable to common stockholders improved to $7.4 million, down from $21.8 million in Q2 2020, adjusted funds from operations (AFFO) surged 35.4% to $28.7 million. AFIN's solid cash rent collection rate reached nearly 100%, and its debt metrics improved, with a reduced net debt to adjusted EBITDA ratio of 7.4x. The portfolio comprises 939 properties across 46 states.
American Finance Trust (AFIN) announced its second quarter financial results for 2021 will be released on August 4, 2021, after market close. A conference call is scheduled for August 5, 2021, at 11:00 a.m. ET, where management will discuss performance and answer questions from analysts and investors. The call is accessible via the company’s website. AFIN is a publicly traded REIT focused on a diversified portfolio of service-oriented and traditional retail properties in the U.S.
American Finance Trust (Nasdaq: AFIN, AFINO, AFINP) has announced a quarterly dividend of $0.2125 per share on its Class A common stock, amounting to an annual rate of $0.85. This dividend will be paid on July 15, 2021, to shareholders on record by July 12, 2021. AFIN is focused on acquiring and managing a diverse portfolio of commercial real estate properties in the U.S.
