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AFINP - American Finance Trust: Quality Assets But I Prefer The Preferred Shares
American Finance Trust Inc. 7.50% Series A Cumulative Redeemable Perpetual Preferred Stock
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Investment Thesis
American Finance Trust (AFIN) is an externally managed real estate investment trust that owns 848 single-tenant and multi-tenant properties worth $3.9 billion. Its single-tenant segment is primarily net leased properties with little to no landlord obligations, and its multi-tenant segment is primarily shopping centers leased to service- or experience-oriented or otherwise e-commerce-resistant tenants. The portfolio is 94.7% occupied with 8.9 years of weighted average