American Finance: 3Q Earnings Snapshot

Associated Press
Updated ·1 min read

NEW YORK (AP) _ American Finance Trust, Inc. (AFIN) on Wednesday reported a key measure of profitability in its third quarter.

The New York-based real estate investment trust said it had funds from operations of $25.5 million, or 23 cents per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $7.1 million, or 7 cents per share.

American Finance posted revenue of $78.5 million in the period.

The company's shares have declined 55% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.99, a decline of 60% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AFIN at https://www.zacks.com/ap/AFIN