AFC Gamma, Inc. to Issue Quarterly Dividend of $0.33 (NASDAQ:AFCG)

AFC Gamma, Inc. (NASDAQ:AFCG) announced a quarterly dividend on Friday, December 13th,NASDAQ Dividends reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.33 per share on Wednesday, January 15th. This represents a $1.32 annualized dividend and a dividend yield of 15.19%. The ex-dividend date is Tuesday, December 31st.

AFC Gamma has a payout ratio of 80.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect AFC Gamma to earn $1.48 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 89.2%.

AFC Gamma Stock Down 2.0 %

NASDAQ:AFCG opened at $8.69 on Friday. AFC Gamma has a one year low of $8.06 and a one year high of $13.28. 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 capitalization of $190.77 million, a price-to-earnings ratio of 21.73 and a beta of 1.03. The stock has a 50-day simple moving average of $9.53 and a 200 day simple moving average of $10.06.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Alliance Global Partners assumed coverage on AFC Gamma in a research report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price target on the stock. Seaport Res Ptn upgraded shares of AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Jefferies Financial Group decreased their price target 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. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $11.67.

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.