AFC Gamma, Inc. (AFCG) to Issue Quarterly Dividend of $0.33 on October 15th

AFC Gamma, Inc. (NASDAQ:AFCG) announced a quarterly dividend on Thursday, September 12th, Zacks reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.33 per share on Tuesday, October 15th. This represents a $1.32 annualized dividend and a yield of 12.48%. The ex-dividend date is Monday, September 30th.

AFC Gamma has a dividend payout ratio of 89.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect AFC Gamma to earn $1.99 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 66.3%.

AFC Gamma Price Performance

Shares of NASDAQ:AFCG opened at $10.58 on Friday. The company has a market capitalization of $218.69 million, a PE ratio of 20.35 and a beta of 1.05. The business has a fifty day moving average price of $9.93 and a 200-day moving average price of $11.21. AFC Gamma has a 1-year low of $8.06 and a 1-year high of $13.35. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.77 and a quick ratio of 4.77.

AFC Gamma (NASDAQ:AFCG) last issued its earnings results on Wednesday, August 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.05. AFC Gamma had a net margin of 21.97% and a return on equity of 12.41%. The business had revenue of $19.96 million during the quarter, compared to analysts’ expectations of $16.48 million. As a group, equities analysts expect that AFC Gamma will post 2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AFCG shares. Jefferies Financial Group lowered their price objective on AFC Gamma from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Compass Point raised AFC Gamma from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $10.00 to $9.00 in a research report on Friday, August 16th. Finally, JMP Securities reiterated a “market perform” rating on shares of AFC Gamma in a report on Thursday, June 27th.

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.