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

AFC Gamma, Inc. (NASDAQ:AFCG) announced a quarterly dividend on Friday, December 13th,NASDAQ Dividends reports. Shareholders 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 yield of 15.19%. The ex-dividend date of this dividend 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 decline. 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 Price Performance

NASDAQ AFCG opened at $8.69 on Friday. AFC Gamma has a 12 month low of $8.06 and a 12 month high of $13.28. The stock has a market cap of $190.77 million, a price-to-earnings ratio of 21.73 and a beta of 1.03. The company’s 50 day moving average is $9.53 and its two-hundred day moving average is $10.06. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group reduced their price objective on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Seaport Res Ptn upgraded shares of AFC Gamma to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Alliance Global Partners assumed coverage on shares of AFC Gamma in a research report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price objective on the stock. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, 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.