AFC Gamma, Inc. (NASDAQ:AFCG) Receives Consensus Rating of “Moderate Buy” from Analysts

AFC Gamma, Inc. (NASDAQ:AFCG) has received a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the company, MarketBeat.com reports. Two research 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. The average 1 year price objective among analysts that have covered the stock in the last year is $11.67.

A number of equities analysts recently weighed in on AFCG shares. Jefferies Financial Group reduced 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. Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Alliance Global Partners began coverage on shares of AFC Gamma in a research note on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price target on the stock.

AFC Gamma Stock Down 2.0 %

AFCG opened at $8.69 on Monday. The company has a fifty day moving average of $9.53 and a two-hundred day moving average of $10.05. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92. AFC Gamma has a fifty-two week low of $8.06 and a fifty-two week high of $13.28. The stock has a market capitalization of $190.77 million, a price-to-earnings ratio of 21.73 and a beta of 1.03.

AFC Gamma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.33 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.32 annualized dividend and a dividend yield of 15.19%. AFC Gamma’s dividend payout ratio (DPR) is presently 330.00%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings in shares of AFC Gamma by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company’s stock worth $284,000 after buying an additional 1,071 shares in the last quarter. Renaissance Technologies LLC boosted its position in AFC Gamma by 1.4% during the second quarter. Renaissance Technologies LLC now owns 134,400 shares of the company’s stock worth $1,640,000 after acquiring an additional 1,900 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in AFC Gamma by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock valued at $515,000 after acquiring an additional 2,200 shares in the last quarter. McIlrath & Eck LLC acquired a new stake in AFC Gamma in the 3rd quarter valued at about $52,000. Finally, Geode Capital Management LLC lifted its stake in AFC Gamma by 57.8% in the 3rd quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock worth $248,000 after purchasing an additional 8,877 shares in the last quarter. 26.53% of the stock is owned by institutional investors and hedge funds.

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.