Rhumbline Advisers decreased its position in American Finance Trust, Inc. (NASDAQ:AFIN) by 10.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 174,307 shares of the company’s stock after selling 19,685 shares during the quarter. Rhumbline Advisers’ holdings in American Finance Trust were worth $1,478,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Advisors Asset Management Inc. acquired a new position in American Finance Trust in the 2nd quarter valued at about $66,000. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in American Finance Trust in the 2nd quarter valued at about $86,000. Synovus Financial Corp acquired a new position in American Finance Trust in the 1st quarter valued at about $108,000. Principal Financial Group Inc. acquired a new position in American Finance Trust in the 1st quarter valued at about $111,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of American Finance Trust during the 1st quarter valued at about $119,000. 53.00% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:AFIN opened at $8.26 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.13 and a current ratio of 0.13. American Finance Trust, Inc. has a 1 year low of $5.40 and a 1 year high of $10.69. The stock has a market capitalization of $973.19 million, a P/E ratio of -26.64, a PEG ratio of 1.51 and a beta of 1.40. The stock has a 50-day simple moving average of $8.47 and a 200-day simple moving average of $9.04.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Stockholders of record on Monday, July 12th were issued a dividend of $0.213 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 10.31%. The ex-dividend date was Friday, July 9th. American Finance Trust’s payout ratio is currently 94.44%.
A number of research analysts have recently commented on the stock. Colliers Securities assumed coverage on shares of American Finance Trust in a research note on Thursday, June 17th. They set a “neutral” rating and a $10.00 price objective for the company. Zacks Investment Research downgraded shares of American Finance Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, August 11th. Finally, TheStreet raised shares of American Finance Trust from a “d” rating to a “c” rating in a research note on Wednesday, August 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, American Finance Trust has an average rating of “Hold” and an average target price of $10.56.
About American Finance Trust
American Finance Trust, Inc is a real estate investment trust, which engages in the acquiring and managing a portfolio of primarily service-oriented and traditional retail and distribution related commercial real estate properties. It operates through income-producing properties segment, which consists of activities related to investing in real estate.
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