American Finance Trust, Inc. (“AFIN”) is a publicly traded 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 United States. As of December 31, 2017, AFIN owned 520 properties with an aggregate purchase price of $3.4 billion. AFIN listed its shares on the Nasdaq stock exchange on July 19, 2018, with trading opening at $13.15 per share.
Prior to its public debut, AFIN was a non-traded real estate investment trust whose shares had been sold to retail customers at $25 per share upon the recommendation of a broker. AFIN’s initial public offering began in April 2013 and closed about six months later, raising $1.6 billion in investor equity. AFIN reported its estimated-per-sheet net asset value at $23.56 as of December 31, 2017. AFIN’s shares are trading around $13.20 per share as of mid-December 2018, a substantial decrease in value from its initial offering share price of $25. If your broker recommended the purchase of AFIN in your brokerage account, you may be able to recoup your losses under applicable state and/or federal law. Please contact us for a free confidential consultation.
Gregory B. Simon Law, LLC is a national securities law firm that provides legal services to investors and financial advisors on a wide range of financial industry matters. For more information on the firm, please visit https://www.gregsimonlaw.com.