AFC Gamma, Inc. (NASDAQ:AFCG) Receives Average Rating of “Moderate Buy” from Analysts

AFC Gamma, Inc. (NASDAQ:AFCG) has earned an average recommendation of “Moderate Buy” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $11.67.

Several brokerages have recently commented on AFCG. Alliance Global Partners began coverage on AFC Gamma in a research note on Tuesday, December 17th. They set a “buy” rating and a $13.00 price target on the stock. Seaport Res Ptn raised shares of AFC Gamma to a “strong-buy” rating in a research report on Tuesday, October 8th.

Institutional Trading of AFC Gamma

Several hedge funds have recently modified their holdings of AFCG. Tidal Investments LLC lifted its position in AFC Gamma by 19.7% during the third quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock valued at $5,305,000 after acquiring an additional 85,655 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of AFC Gamma by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock valued at $515,000 after purchasing an additional 2,200 shares during the last quarter. State Street Corp boosted its position in shares of AFC Gamma by 2.8% in the 3rd quarter. State Street Corp now owns 376,611 shares of the company’s stock worth $3,968,000 after purchasing an additional 10,320 shares in the last quarter. Barclays PLC grew its stake in AFC Gamma by 257.0% during the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after buying an additional 16,245 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in AFC Gamma by 57.8% during the 3rd quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock worth $248,000 after buying an additional 8,877 shares during the last quarter. 26.53% of the stock is owned by hedge funds and other institutional investors.

AFC Gamma Trading Up 0.5 %

AFCG opened at $8.44 on Friday. AFC Gamma has a 52 week low of $8.06 and a 52 week high of $13.28. The company has a market capitalization of $185.26 million, a P/E ratio of 21.10 and a beta of 1.05. The stock’s fifty day moving average is $9.13 and its two-hundred day moving average is $9.72. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29.

AFC Gamma Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.32 annualized dividend and a yield of 15.64%. AFC Gamma’s dividend payout ratio (DPR) is presently 330.00%.

AFC Gamma Company Profile

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other various commercial real estate loans and debt securities for established companies operating in the cannabis industry. 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.