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

AFC Gamma, Inc. (NASDAQ:AFCG) announced a quarterly dividend on Friday, December 13th,NASDAQ Dividends reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.33 per share on Wednesday, January 15th. This represents a $1.32 dividend on an annualized basis and a yield of 15.19%. The ex-dividend date of this dividend is Tuesday, December 31st.

AFC Gamma has a payout ratio of 80.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Trading Down 2.0 %

NASDAQ:AFCG traded down $0.18 during midday trading on Friday, hitting $8.69. 232,476 shares of the company traded hands, compared to its average volume of 150,934. The firm has a market capitalization of $190.77 million, a P/E ratio of 21.73 and a beta of 1.03. The firm’s fifty day moving average is $9.53 and its 200-day moving average is $10.06. AFC Gamma has a 12-month low of $8.06 and a 12-month high of $13.28. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AFCG shares. Seaport Res Ptn upgraded AFC Gamma to a “strong-buy” rating in a report on Tuesday, October 8th. Jefferies Financial Group reduced their price target on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Finally, Alliance Global Partners began coverage on shares of AFC Gamma in a research report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price objective for the company. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.