AFC Gamma (NASDAQ:AFCG) Director Acquires $191,782.80 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 53,273 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were bought at an average price of $3.60 per share, for a total transaction of $191,782.80. Following the transaction, the director directly owned 6,834,076 shares in the company, valued at $24,602,673.60. This trade represents a 0.79% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

AFC Gamma Stock Up 1.4%

Shares of NASDAQ AFCG opened at $3.62 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The firm has a market cap of $82.07 million, a PE ratio of 19.05 and a beta of 0.95. The company’s fifty day simple moving average is $3.04 and its 200 day simple moving average is $2.96. AFC Gamma Inc. has a 12-month low of $2.06 and a 12-month high of $4.93.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. The firm had revenue of $6.77 million for the quarter, compared to analyst estimates of $8.59 million. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. As a group, sell-side analysts forecast that AFC Gamma Inc. will post 0.72 earnings per share for the current fiscal year.

AFC Gamma Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend was Tuesday, June 30th. AFC Gamma’s dividend payout ratio is 105.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wall Street Zen cut AFC Gamma from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 20th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, AFC Gamma has an average rating of “Reduce”.

AFC Gamma Company Profile

AFC Gamma, Inc is a specialty finance real estate investment trust that focuses on providing structured financing solutions to companies operating and developing digital infrastructure and life science real estate assets. As a REIT, AFC Gamma seeks to generate attractive risk-adjusted returns through a diversified portfolio of loans, preferred equity and other financing structures that are secured by tangible property collateral or contractual revenue streams.

The company’s primary business activities include originating, acquiring and managing secured loans and equity investments that support wireless and broadband network deployment, data center expansion, and life sciences facility development.