State Street Corp Buys 10,320 Shares of AFC Gamma, Inc. (NASDAQ:AFCG)

State Street Corp boosted its holdings in AFC Gamma, Inc. (NASDAQ:AFCG) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 376,611 shares of the company’s stock after purchasing an additional 10,320 shares during the quarter. State Street Corp owned about 1.82% of AFC Gamma worth $3,968,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AFCG. GSA Capital Partners LLP bought a new position in shares of AFC Gamma during the 3rd quarter worth approximately $140,000. Centiva Capital LP bought a new stake in AFC Gamma during the 3rd quarter valued at $193,000. The Manufacturers Life Insurance Company lifted its position 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 acquiring an additional 1,071 shares in the last quarter. Spire Wealth Management lifted its holdings in AFC Gamma by 141.5% during the 2nd quarter. Spire Wealth Management now owns 29,700 shares of the company’s stock worth $362,000 after purchasing an additional 17,400 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its position in shares of AFC Gamma by 51.1% in the second quarter. Ritholtz Wealth Management now owns 31,822 shares of the company’s stock valued at $388,000 after acquiring an additional 10,758 shares during the period. Institutional investors own 26.53% of the company’s stock.

AFC Gamma Stock Down 1.4 %

Shares of NASDAQ AFCG opened at $8.57 on Tuesday. The stock’s fifty day simple moving average is $9.53 and its two-hundred day simple moving average is $10.05. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29. AFC Gamma, Inc. has a 12-month low of $8.06 and a 12-month high of $13.28. The stock has a market capitalization of $188.14 million, a PE ratio of 21.43 and a beta of 1.03.

AFC Gamma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 15.40%. The ex-dividend date of this dividend is Tuesday, December 31st. AFC Gamma’s dividend payout ratio (DPR) is currently 330.00%.

Wall Street Analysts Forecast Growth

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