AFC Gamma, Inc. (NASDAQ:AFCG) to Issue Quarterly Dividend of $0.33

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

AFC Gamma has a dividend 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 fall. 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 Price Performance

Shares of NASDAQ:AFCG traded down $0.18 during trading on Friday, reaching $8.69. 232,476 shares of the company’s stock traded hands, compared to its average volume of 150,934. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29. AFC Gamma has a fifty-two week low of $8.06 and a fifty-two week high of $13.28. The company has a 50-day simple moving average of $9.53 and a 200-day simple moving average of $10.06. The firm has a market cap of $190.77 million, a PE ratio of 21.73 and a beta of 1.03.

Wall Street Analysts Forecast Growth

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