AFC Gamma, Inc. (NASDAQ:AFCG – Get Rating) declared a quarterly dividend on Thursday, September 15th, Zacks reports. Stockholders of record on Friday, September 30th will be paid a dividend of 0.56 per share on Friday, October 14th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 13.27%. The ex-dividend date of this dividend is Thursday, September 29th.
AFC Gamma Stock Performance
Shares of AFC Gamma stock traded down $0.48 on Friday, reaching $16.88. 425 shares of the company's stock were exchanged, compared to its average volume of 153,228. The company has a market capitalization of $335.24 million, a P/E ratio of 8.72 and a beta of 1.06. AFC Gamma has a 52 week low of $14.90 and a 52 week high of $25.50. The firm's 50-day moving average is $17.03 and its two-hundred day moving average is $17.44.
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AFC Gamma (NASDAQ:AFCG – Get Rating) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.10. The firm had revenue of $21.65 million for the quarter, compared to analysts' expectations of $18.00 million. AFC Gamma had a return on equity of 13.48% and a net margin of 56.14%. During the same period in the prior year, the business earned $0.43 EPS. On average, analysts expect that AFC Gamma will post 2.6 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in AFCG. Vanguard Group Inc. lifted its holdings in shares of AFC Gamma by 32.5% in the 1st quarter. Vanguard Group Inc. now owns 776,261 shares of the company's stock worth $14,842,000 after acquiring an additional 190,609 shares during the last quarter. Federated Hermes Inc. raised its position in shares of AFC Gamma by 12.5% in the 1st quarter. Federated Hermes Inc. now owns 900,000 shares of the company's stock worth $17,208,000 after purchasing an additional 100,000 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of AFC Gamma by 184.1% in the 2nd quarter. Renaissance Technologies LLC now owns 123,000 shares of the company's stock worth $1,886,000 after purchasing an additional 79,700 shares during the last quarter. State Street Corp lifted its holdings in shares of AFC Gamma by 29.9% during the first quarter. State Street Corp now owns 201,921 shares of the company's stock valued at $3,970,000 after purchasing an additional 46,503 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC lifted its holdings in shares of AFC Gamma by 13.5% during the first quarter. Weiss Multi Strategy Advisers LLC now owns 344,917 shares of the company's stock valued at $6,595,000 after purchasing an additional 40,944 shares in the last quarter. Institutional investors own 40.67% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the company. Cowen raised their price objective on AFC Gamma to $22.00 in a research note on Monday, August 15th. TheStreet raised AFC Gamma from a "d+" rating to a "c-" rating in a research note on Monday.
AFC Gamma Company Profile
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AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other types of loans and debt securities for established companies operating in the cannabis industry in states that have legalized medicinal and/or adult use cannabis. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.
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