AFC Gamma, Inc. (NASDAQ:AFCG – Get Rating) announced a quarterly dividend on Thursday, September 15th, Zacks reports. Shareholders of record on Friday, September 30th will be given a dividend of 0.56 per share on Friday, October 14th. This represents a $2.24 dividend on an annualized basis and a yield of 13.39%. The ex-dividend date is Thursday, September 29th.

AFC Gamma Price Performance

AFC Gamma stock opened at $16.73 on Wednesday. The stock has a market cap of $332.26 million, a P/E ratio of 8.41 and a beta of 1.06. AFC Gamma has a 1 year low of $14.90 and a 1 year high of $25.50. The firm's 50 day moving average price is $17.21 and its 200-day moving average price is $17.27.

AFC Gamma (NASDAQ:AFCG – Get Rating) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.10. AFC Gamma had a net margin of 56.14% and a return on equity of 13.48%. The firm had revenue of $21.65 million for the quarter, compared to analysts' expectations of $18.00 million. During the same quarter last year, the business posted $0.43 earnings per share. As a group, equities analysts expect that AFC Gamma will post 2.6 EPS for the current year.

Wall Street Analysts Forecast Growth

Hedge Funds Weigh In On AFC Gamma

A number of large investors have recently added to or reduced their stakes in the company. American International Group Inc. raised its holdings in AFC Gamma by 12.5% in the first quarter. American International Group Inc. now owns 7,418 shares of the company's stock worth $142,000 after purchasing an additional 826 shares in the last quarter. California State Teachers Retirement System raised its holdings in AFC Gamma by 18.7% in the first quarter. California State Teachers Retirement System now owns 6,425 shares of the company's stock worth $123,000 after purchasing an additional 1,011 shares in the last quarter. Northern Trust Corp raised its holdings in AFC Gamma by 1.3% in the second quarter. Northern Trust Corp now owns 127,738 shares of the company's stock worth $1,958,000 after purchasing an additional 1,612 shares in the last quarter. MetLife Investment Management LLC raised its holdings in AFC Gamma by 55.4% in the first quarter. MetLife Investment Management LLC now owns 8,992 shares of the company's stock worth $172,000 after purchasing an additional 3,206 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of AFC Gamma by 42.8% during the first quarter. Rhumbline Advisers now owns 15,422 shares of the company's stock worth $295,000 after acquiring an additional 4,620 shares during the last quarter. 40.67% of the stock is currently owned by institutional investors.

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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