American Finance Trust, Inc (AFIN) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

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American Finance Trust, Inc
Ticker: AFIN CIK: 1568162

EXHIBIT 99.1

FOR IMMEDIATE RELEASE

American Finance Trust Announces Fourth Quarter and Full Year 2018 Results

New York, March 6, 2019 - American Finance Trust, Inc. (Nasdaq: AFIN) (“AFIN” or the “Company”), a real estate investment trust focused on acquiring and managing a diversified portfolio of primarily service-oriented and traditional retail and distribution related commercial real estate properties in the U.S., announced today its financial and operating results for the quarter and year ended December 31, 2018.

Fourth Quarter 2018 Highlights


•	Revenues increased 3.7% to $75.1 million from $72.4 million in fourth quarter 2017


•	Net loss attributable to stockholders was $13.5 million


•	Adjusted Funds from Operations (“AFFO”) was $24.6 million as compared to $24.9 million in third quarter 2018


•	Closed on the acquisition of 29 properties for an aggregate contract purchase price of $48.6 million at a weighted average capitalization rate¹ of 7.8%


•	Executed 8 new leases and 30 lease renewals/amendments in the quarter totaling 326,423 square feet


•	In November, added to the MSCI US REIT Index (the "RMZ")


•	Institutional ownership of common equity has increased from less than 1% at listing to 16% as of the end of the quarter


•	Strong current pipeline includes an additional 69 properties for an aggregate contract purchase price² of $131.0 million, of which 98% are occupied by service retail tenants³


•	Multi-tenant leasing pipeline of four new leases and renewals under negotiation for an additional 32,000 square feet⁴

Full Year 2018 Highlights


•	Revenues increased 7.5% year-over-year to $291.2 million as compared to $270.9 million in prior year


•	Net loss attributable to stockholders of $37.4 million includes one-time charges related to the July listing of AFIN on the Nasdaq Global Select Market


•	AFFO was $103.0 million as compared to $117.7 million in prior year


•	Closed on the acquisition of 130 properties for an aggregate contract purchase price of $239.0 million at a weighted average cap rate of 8.1%


•	Portfolio 94.7% leased with an 8.6 year weighted-average leaseterm remaining at year end⁵


•	Rent escalators in 78.4% of leases provide contractually embedded rent growth in existing portfolios


•	77.2% of tenants in single-tenant portfolio and 46.9% of anchor tenants⁶ in multi-tenant portfolio rated as investment grade or implied investment grade⁷

CEO Comments

Michael Weil, Chief Executive Officer, commented, “2018 was a milestone year for AFIN as the company executed important strategic and operational initiatives, and continued to focus on fortifying our foundation for the future. We had a very productive year with new real estate acquisitions as we selectively acquired 130 single-tenant net-leased properties for $239.0 million. We believe these acquisitions further enhance AFIN’s portfolio mix, as 90% of these acquisitions are service retail properties. Our acquisition activity is complemented by our strong leasing strategy to drive occupancy and NOI growth from the multi-tenant component of our portfolio."

Mr. Weil continued, "We maintain a healthy balance sheet in order to be well positioned to capitalize on opportunities as we identify suitable acquisitions. We have a promising leasing outlook, as we already have several signed leases with rental income set to begin cash rent payments in 2019. Finally, there is the potential for AFIN to be included in other equity indexes in addition to its recent inclusion in the RMZ REIT index.”

The following information was filed by American Finance Trust, Inc (AFIN) on Wednesday, March 6, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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