AFC Gamma, Inc. (NASDAQ:AFCG) Receives $11.00 Average PT from Analysts

AFC Gamma, Inc. (NASDAQ:AFCG) has received an average rating of “Moderate Buy” from the four research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $11.00.

A number of equities analysts have recently issued reports on AFCG shares. Jefferies Financial Group cut their target price on AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Seaport Res Ptn upgraded shares of AFC Gamma to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Compass Point upgraded shares of AFC Gamma from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $10.00 to $9.00 in a research note on Friday, August 16th.

AFC Gamma Stock Up 0.9 %

Shares of AFC Gamma stock opened at $9.73 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92. The company has a market cap of $213.57 million, a P/E ratio of 24.33 and a beta of 1.05. AFC Gamma has a one year low of $8.06 and a one year high of $13.35. The firm has a fifty day moving average of $9.90 and a two-hundred day moving average of $10.48.

AFC Gamma Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 13.57%. The ex-dividend date was Monday, September 30th. AFC Gamma’s dividend payout ratio is currently 330.00%.

Hedge Funds Weigh In On AFC Gamma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AFCG. McIlrath & Eck LLC purchased a new stake in shares of AFC Gamma in the third quarter valued at $52,000. GSA Capital Partners LLP acquired a new position in AFC Gamma in the 3rd quarter valued at about $140,000. Centiva Capital LP purchased a new position in AFC Gamma in the 3rd quarter valued at about $193,000. Barclays PLC boosted its stake in shares of 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 purchasing an additional 16,245 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of AFC Gamma by 57.8% during the third 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 in the last quarter. Institutional investors and hedge funds own 26.53% of the company’s stock.

About AFC Gamma

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.