Leonard Tannenbaum Acquires 15,202 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 15,202 shares of AFC Gamma stock in a transaction dated Thursday, August 27th. The stock was bought at an average price of $3.46 per share, for a total transaction of $52,598.92. Following the completion of the transaction, the director directly owned 6,715,051 shares in the company, valued at $23,234,076.46. The trade was a 0.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

AFC Gamma Trading Up 4.7%

NASDAQ:AFCG opened at $3.60 on Friday. The firm has a market capitalization of $81.61 million, a price-to-earnings ratio of 18.95 and a beta of 0.91. AFC Gamma Inc. has a 1-year low of $2.06 and a 1-year high of $5.00. The business’s 50-day moving average price is $3.00 and its two-hundred day moving average price is $2.92. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.69.

AFC Gamma (NASDAQ:AFCG) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The company had revenue of $6.77 million during the quarter, compared to analysts’ expectations of $8.59 million. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%. On average, equities analysts expect that AFC Gamma Inc. will post 0.72 earnings per share for the current year.

AFC Gamma Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.20 dividend on an annualized basis and a yield of 5.6%. AFC Gamma’s payout ratio is presently 105.26%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AFCG shares. Wall Street Zen lowered shares of 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 research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.