AFC Gamma, Inc. (AFCG) To Go Ex-Dividend on March 31st

AFC Gamma, Inc. (NASDAQ:AFCG) declared a dividend on Thursday, March 13th, NASDAQ Dividends reports. Investors of record on Monday, March 31st will be paid a dividend of 0.23 per share on Tuesday, April 15th. The ex-dividend date of this dividend is Monday, March 31st.

AFC Gamma has decreased its dividend by an average of 1.0% annually over the last three years. AFC Gamma has a payout ratio of 71.9% meaning its dividend is sufficiently covered by earnings. Analysts expect AFC Gamma to earn $1.71 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 53.8%.

AFC Gamma Stock Down 3.2 %

Shares of AFC Gamma stock traded down $0.20 on Friday, reaching $6.09. The company’s stock had a trading volume of 298,029 shares, compared to its average volume of 172,566. AFC Gamma has a 52 week low of $6.07 and a 52 week high of $12.74. The firm’s fifty day simple moving average is $7.92 and its two-hundred day simple moving average is $9.00. 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 company has a market capitalization of $137.61 million, a price-to-earnings ratio of 15.23 and a beta of 1.03.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Alliance Global Partners initiated coverage on AFC Gamma in a research report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 target price for the company. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd. Finally, Jefferies Financial Group cut shares of AFC Gamma from a “buy” rating to a “hold” rating and dropped their target price for the stock from $10.00 to $7.00 in a report on Friday, March 14th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.67.

Insider Activity

In related news, Director Leonard M. Tannenbaum acquired 32,007 shares of AFC Gamma stock in a transaction dated Friday, March 14th. The stock was purchased at an average cost of $6.52 per share, for a total transaction of $208,685.64. Following the purchase, the director now directly owns 3,909,876 shares of the company’s stock, valued at approximately $25,492,391.52. This trade represents a 0.83 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Daniel Neville bought 30,349 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average cost of $6.52 per share, for a total transaction of $197,875.48. Following the completion of the acquisition, the chief executive officer now owns 161,011 shares in the company, valued at $1,049,791.72. This trade represents a 23.23 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 141,606 shares of company stock valued at $899,941 in the last quarter. 26.20% of the stock is currently owned by insiders.

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.