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

AFC Gamma, Inc. (NASDAQ:AFCG) declared a quarterly dividend on Friday, December 13th,NASDAQ Dividends reports. Investors 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 dividend on an annualized basis 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 tumble. 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 Trading Down 2.0 %

AFCG stock opened at $8.69 on Friday. The firm has a fifty day moving average price of $9.53 and a 200 day moving average price of $10.06. AFC Gamma has a fifty-two week low of $8.06 and a fifty-two week 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 firm has a market cap of $190.77 million, a PE ratio of 21.73 and a beta of 1.03.

Analyst Ratings Changes

A number of research analysts recently weighed in on AFCG shares. Jefferies Financial Group cut their target price on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Seaport Res Ptn raised shares of AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Alliance Global Partners started coverage on shares of AFC Gamma in a research note on Tuesday, December 17th. They set a “buy” rating and a $13.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, AFC Gamma currently has an average rating of “Moderate Buy” and a consensus price target of $11.67.

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.