Analysts Set AFC Gamma, Inc. (NASDAQ:AFCG) PT at $11.00

AFC Gamma, Inc. (NASDAQ:AFCG) has received an average rating of “Moderate Buy” from the four brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $11.00.

A number of analysts recently commented on AFCG shares. Compass Point upgraded AFC Gamma from a “sell” rating to a “neutral” rating and dropped their price objective for the stock from $10.00 to $9.00 in a research report on Friday, August 16th. Jefferies Financial Group lowered their price target 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. Finally, Seaport Res Ptn raised shares of AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th.

AFC Gamma Trading Down 1.2 %

Shares of AFC Gamma stock opened at $9.68 on Friday. The business has a 50 day moving average price of $10.16 and a 200 day moving average price of $10.73. The company has a market capitalization of $200.09 million, a P/E ratio of 13.26 and a beta of 1.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.77 and a quick ratio of 4.77. AFC Gamma has a 1 year low of $8.06 and a 1 year high of $13.35.

AFC Gamma (NASDAQ:AFCG) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. The company had revenue of $19.96 million during the quarter, compared to analysts’ expectations of $16.48 million. AFC Gamma had a return on equity of 12.41% and a net margin of 21.97%. Sell-side analysts anticipate that AFC Gamma will post 1.69 EPS for the current fiscal year.

AFC Gamma Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 13.64%. The ex-dividend date was Monday, September 30th. AFC Gamma’s dividend payout ratio is currently 180.82%.

Institutional Investors Weigh In On AFC Gamma

Several hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in AFC Gamma by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company’s stock worth $284,000 after purchasing an additional 1,071 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of AFC Gamma by 1.4% in the 2nd quarter. Renaissance Technologies LLC now owns 134,400 shares of the company’s stock worth $1,640,000 after buying an additional 1,900 shares during the period. Empowered Funds LLC raised its position in shares of AFC Gamma by 8.1% in the 1st quarter. Empowered Funds LLC now owns 51,324 shares of the company’s stock worth $635,000 after buying an additional 3,850 shares during the period. Bank of New York Mellon Corp boosted its holdings in AFC Gamma by 15.2% in the second quarter. Bank of New York Mellon Corp now owns 75,763 shares of the company’s stock valued at $924,000 after acquiring an additional 10,016 shares during the last quarter. Finally, Ritholtz Wealth Management grew its position in AFC Gamma by 51.1% during the second quarter. Ritholtz Wealth Management now owns 31,822 shares of the company’s stock valued at $388,000 after acquiring an additional 10,758 shares during the period. 26.53% of the stock is owned by institutional investors and hedge funds.

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.