Analysts Set AFC Gamma, Inc. (NASDAQ:AFCG) PT at $11.00

Shares of AFC Gamma, Inc. (NASDAQ:AFCG) have been assigned a consensus rating of “Moderate Buy” from the four brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $11.00.

AFCG has been the topic of several recent research reports. Compass Point raised shares of AFC Gamma from a “sell” rating to a “neutral” rating and reduced their target price for the company from $10.00 to $9.00 in a report on Friday, August 16th. Jefferies Financial Group dropped their price target on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Finally, Seaport Res Ptn raised shares of AFC Gamma to a “strong-buy” rating in a research report on Tuesday, October 8th.

Institutional Trading of AFC Gamma

Institutional investors and hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of AFC Gamma by 9.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 279,534 shares of the company’s stock worth $3,519,000 after acquiring an additional 24,506 shares during the period. Empowered Funds LLC grew its stake in shares of AFC Gamma by 8.1% in the first quarter. Empowered Funds LLC now owns 51,324 shares of the company’s stock worth $635,000 after acquiring an additional 3,850 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of AFC Gamma by 88.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 46,806 shares of the company’s stock worth $579,000 after acquiring an additional 21,915 shares during the period. Anson Funds Management LP bought a new stake in shares of AFC Gamma in the first quarter worth approximately $319,000. Finally, Tidal Investments LLC bought a new stake in shares of AFC Gamma in the first quarter worth approximately $7,001,000. 26.53% of the stock is currently owned by institutional investors.

AFC Gamma Stock Performance

Shares of AFCG stock opened at $9.85 on Friday. The stock has a market capitalization of $203.60 million, a P/E ratio of 13.49 and a beta of 1.05. The company has a current ratio of 4.77, a quick ratio of 4.77 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average is $10.20 and its 200 day moving average is $10.78. AFC Gamma has a 12 month low of $8.06 and a 12 month high of $13.35.

AFC Gamma (NASDAQ:AFCG) last posted 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 for the quarter, compared to analysts’ expectations of $16.48 million. On average, sell-side analysts anticipate that AFC Gamma will post 1.69 earnings per share for the current year.

AFC Gamma Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.32 dividend on an annualized basis and a yield of 13.40%. AFC Gamma’s dividend payout ratio (DPR) is currently 180.82%.

About AFC Gamma

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.