EXHIBIT 99.1

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FOR IMMEDIATE RELEASE
 

AMERICAN FINANCE TRUST ANNOUNCES SECOND QUARTER 2019 RESULTS

  
New York, August 8, 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 second quarter ended June 30, 2019.
 
Second Quarter 2019 Highlights    

Revenue from tenants was $79.1 million for the quarter ended June 30, 2019, up 11%, compared to $71.1 million for the quarter ended June 30, 2018
Net income attributable to common stockholders was $7.9 million for the quarter ended June 30, 2019, or $0.07 per diluted share, compared to a net loss of $12.0 million, or $0.11 per diluted share, for the quarter ended June 30, 2018
Funds from Operations ("FFO") was $24.4 million, or $0.23 per diluted share, for the quarter ended June 30, 2019 compared to $28.3 million, or $0.27 per diluted share, for the quarter ended June 30, 2018
Adjusted Funds from Operations (“AFFO”) was up 11.4% to $30.0 million, or $0.28 on a per diluted share basis, inclusive of a $7.6 million lease termination fee partially offset by a $1.5 million derivative payment, compared to $26.9 million or $0.26 on a per diluted share basis, for the quarter ended June 30, 2018
Cash net operating income ("NOI") grew to $62.7 million in the quarter compared to $53.1 million for the quarter ended June 30, 2018
Closed on the acquisition of 32 properties for $70 million1 at a weighted-average capitalization rate2 of 8.3%
Over $180.0 million in year to date acquisitions comprising 96 properties and 460,407 square feet of space with 16.7 years of average remaining lease term and primarily leased to service retail tenants5 
Total multi-tenant executed occupancy3 was 88% with the inclusion of eight executed leases over 210,000 square feet, including six leases with anchor tenants4 
Total portfolio is 93.4% leased with an 9 year weighted-average lease term6 remaining at quarter end
Annual rent escalators7 averaging 1.3% per year in 81.2% of leases provide contractually embedded rent growth
75.6% of tenants in single-tenant portfolio and 37.7% of anchor tenants in multi-tenant portfolio rated as investment grade or implied investment grade8  
Completed, through an affiliate, an Asset Backed Security offering with of $241.9 million in two classes, with an 8-year weighted-average term at a weighted-average interest rate of 4.2%.

CEO Comments    

Michael Weil, Chief Executive Officer, commented, "The second quarter for AFIN was another quarter of increases in rental revenue, adjusted EBITDA and AFFO on the strength of steady execution on our portfolio strategy. Our first ABS offering was very successful and we were able to utilize the ATM to sell Class A Preferred stock above the issue price from last quarter, continuing to raise substantial funds for acquisitions at what we believe is an effective cost. The property sales we closed were timely and beneficial to the company, while the acquisitions we made were entirely aligned with our service retail focus. We look forward to continuing to execute on our strategy in the second half of 2019."

1

The following information was filed by American Finance Trust, Inc (AFIN) on Thursday, August 8, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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