AFC Gamma (NASDAQ:AFCG) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of AFC Gamma (NASDAQ:AFCG) from a buy rating to a hold rating in a research report released on Saturday morning.

Other research analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AFC Gamma in a report on Friday, July 17th. Zacks Research raised AFC Gamma from a “strong sell” rating to a “hold” rating in a research note on Monday, April 20th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

AFC Gamma Stock Up 9.8%

NASDAQ AFCG opened at $3.47 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.34 and a quick ratio of 1.34. The company’s 50 day simple moving average is $2.99 and its 200 day simple moving average is $2.85. AFC Gamma has a 12 month low of $2.06 and a 12 month high of $5.10. The company has a market capitalization of $78.66 million, a P/E ratio of 18.26 and a beta of 0.91.

AFC Gamma (NASDAQ:AFCG) last released its earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04. The business had revenue of $6.77 million during 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%. Equities research analysts expect that AFC Gamma will post 0.78 earnings per share for the current fiscal year.

AFC Gamma Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Tuesday, June 30th. AFC Gamma’s dividend payout ratio (DPR) is presently 105.26%.

Insider Buying and Selling at AFC Gamma

In other news, Director Leonard M. Tannenbaum bought 45,829 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $3.06 per share, with a total value of $140,236.74. Following the completion of the transaction, the director directly owned 6,562,604 shares in the company, valued at approximately $20,081,568.24. The trade was a 0.70% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 30.70% of the stock is currently owned by company insiders.

About AFC Gamma

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.