B. Riley assumed coverage on shares of American Finance Trust (NASDAQ:AFIN) in a report published on Monday, BenzingaRatingsTable reports. The firm issued a neutral rating and a $14.00 price target on the stock. B. Riley also issued estimates for American Finance Trust’s Q3 2019 earnings at $0.24 EPS, Q4 2019 earnings at $0.25 EPS, FY2019 earnings at $0.98 EPS, Q1 2020 earnings at $0.27 EPS, Q2 2020 earnings at $0.27 EPS, Q3 2020 earnings at $0.28 EPS, Q4 2020 earnings at $0.28 EPS, FY2020 earnings at $1.10 EPS and FY2021 earnings at $1.18 EPS.
Separately, TheStreet upgraded American Finance Trust from a d+ rating to a c- rating in a research note on Tuesday, September 10th.
NASDAQ:AFIN opened at $13.32 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.11 and a current ratio of 0.11. The stock’s fifty day moving average is $12.16 and its two-hundred day moving average is $11.08. American Finance Trust has a 52 week low of $9.36 and a 52 week high of $18.50.
Several hedge funds and other institutional investors have recently made changes to their positions in AFIN. Deutsche Bank AG acquired a new stake in shares of American Finance Trust in the fourth quarter valued at $208,000. BNP Paribas Arbitrage SA raised its stake in shares of American Finance Trust by 131.1% in the first quarter. BNP Paribas Arbitrage SA now owns 3,964 shares of the company’s stock valued at $43,000 after acquiring an additional 2,249 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of American Finance Trust in the first quarter valued at $50,000. IndexIQ Advisors LLC raised its stake in shares of American Finance Trust by 15.1% in the first quarter. IndexIQ Advisors LLC now owns 73,396 shares of the company’s stock valued at $793,000 after acquiring an additional 9,616 shares in the last quarter. Finally, FormulaFolio Investments LLC raised its stake in shares of American Finance Trust by 110.6% in the first quarter. FormulaFolio Investments LLC now owns 43,085 shares of the company’s stock valued at $465,000 after acquiring an additional 22,622 shares in the last quarter. Institutional investors and hedge funds own 33.25% of the company’s stock.
About American Finance Trust
American Finance Trust, Inc (Nasdaq: AFIN) is a publicly traded real estate investment trust listed on the Nasdaq 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.
Further Reading: What does a neutral rating on stocks mean?
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