No High Flyer

American Finance Trust Inc.'s stock price has disappointed on its first trading day.  I am not sure what prices I was expecting this morning, but with an original $25.00 offer price to shareholders, a Net Asset Value of $23.56, and only half the stock available for initial liquidity, I was hoping for a higher price than the approximate $15.00 per share the stock seems to have found.  While disappointed, I am not surprised.  At $15.00 per share, AFIN is yielding 7.3% to new buyers.