AFC Gamma, Inc. (NASDAQ:AFCG) Receives $11.67 Consensus PT from Analysts

Shares of AFC Gamma, Inc. (NASDAQ:AFCG) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $11.67.

Several research firms recently weighed in on AFCG. Alliance Global Partners initiated coverage on shares of AFC Gamma in a research report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price target for the company. Jefferies Financial Group reduced their target price on AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Finally, Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th.

AFC Gamma Stock Performance

NASDAQ:AFCG opened at $8.69 on Monday. 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 stock has a market capitalization of $190.77 million, a PE ratio of 21.73 and a beta of 1.03. AFC Gamma has a fifty-two week low of $8.06 and a fifty-two week high of $13.28. The company has a fifty day moving average of $9.53 and a two-hundred day moving average of $10.07.

AFC Gamma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.33 dividend. 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’s dividend payout ratio (DPR) is 330.00%.

Institutional Investors Weigh In On AFC Gamma

A number of large investors have recently made changes to their positions in the stock. Tidal Investments LLC lifted its position in AFC Gamma by 19.7% during the third quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock worth $5,305,000 after buying an additional 85,655 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of AFC Gamma by 91.1% during the 3rd quarter. Ritholtz Wealth Management now owns 60,820 shares of the company’s stock valued at $621,000 after acquiring an additional 28,998 shares during the last quarter. Centiva Capital LP purchased a new stake in shares of AFC Gamma in the third quarter valued at about $193,000. Spire Wealth Management increased its position in AFC Gamma by 141.5% during the second quarter. Spire Wealth Management now owns 29,700 shares of the company’s stock worth $362,000 after purchasing an additional 17,400 shares during the last quarter. Finally, Barclays PLC raised its stake in AFC Gamma by 257.0% during the third 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 period. 26.53% of the stock is currently owned by hedge funds and other institutional investors.

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.