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AFINP - American Finance Trust: The 7.77% Yielding Preferred Shares Are The Safest Option
American Finance Trust Inc. 7.50% Series A Cumulative Redeemable Perpetual Preferred Stock
American Finance Trust saw its dividend coverage level on its common shares drop below 100% in Q2.
Although one can expect the common dividends to be covered again by the end of this year, investors with a lower risk tolerance level should consider the preferred shares.
With a yield of 7.77% and a coverage ratio of almost 700%, any correction in the preferred share price is a buying opportunity.