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

AFC Gamma, Inc. (NASDAQ:AFCG) declared a quarterly dividend on Friday, December 13th,NASDAQ Dividends reports. Stockholders 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 dividend yield of 15.19%. The ex-dividend date of this dividend is Tuesday, December 31st.

AFC Gamma has a dividend 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 fall. 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 Stock Down 2.0 %

Shares of AFC Gamma stock 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 capitalization of $190.77 million, a P/E ratio of 21.73 and a beta of 1.03. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29. The stock has a 50 day moving average price of $9.53 and a two-hundred day moving average price of $10.06.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AFCG. Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a report on Tuesday, October 8th. Jefferies Financial Group cut their price target 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, Alliance Global Partners initiated coverage on AFC Gamma in a 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.