AFC Gamma, Inc. (AFCG) To Go Ex-Dividend on December 31st

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 paid a dividend of 0.33 per share on Wednesday, January 15th. This represents a $1.32 dividend on an annualized basis and a yield of 15.19%. The ex-dividend date is Tuesday, December 31st.

AFC Gamma has a payout ratio of 80.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research 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 %

Shares of AFCG stock traded down $0.18 on Friday, hitting $8.69. The stock had a trading volume of 232,476 shares, compared to its average volume of 150,934. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29. AFC Gamma has a twelve month low of $8.06 and a twelve month high of $13.28. The company has a fifty day moving average price of $9.53 and a two-hundred day moving average price of $10.06. The firm has a market cap of $190.77 million, a P/E ratio of 21.73 and a beta of 1.03.

Wall Street Analysts Forecast Growth

AFCG has been the subject of a number of research analyst reports. Jefferies Financial Group decreased 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. Alliance Global Partners started coverage on AFC Gamma in a research report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price objective for the company. Finally, Seaport Res Ptn upgraded shares of AFC Gamma to a “strong-buy” rating in a report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AFC Gamma presently has an average rating of “Moderate Buy” and a consensus 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.