When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
AFINP - American Finance Trust: A Good Result Makes The Preferred Shares Safer
American Finance Trust Inc. 7.50% Series A Cumulative Redeemable Perpetual Preferred Stock
2020 was a difficult year for almost every REIT, but American Finance Trust performed rather well.
The REIT issued a new class of preferred shares, which will increase the outflow related to preferred dividends to in excess of $20M.
Despite this, and even assuming the REIT's performance doesn't improve in 2021, the preferreds have a dividend coverage ratio exceeding 500%.
That being said, I will rotate my AFINP position into the new AFINO issue, as it simply makes more sense given the current share prices of both issues.