AFC Gamma, Inc. (AFCG) To Go Ex-Dividend on March 31st

AFC Gamma, Inc. (NASDAQ:AFCG) announced a dividend on Thursday, March 13th, NASDAQ Dividends reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.23 per share on Tuesday, April 15th. The ex-dividend date of this dividend is Monday, March 31st.

AFC Gamma has decreased its dividend by an average of 1.0% per year over the last three years. AFC Gamma has a dividend payout ratio of 71.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AFC Gamma to earn $1.71 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 53.8%.

AFC Gamma Price Performance

Shares of NASDAQ:AFCG traded down $0.20 on Friday, hitting $6.09. The stock had a trading volume of 298,029 shares, compared to its average volume of 172,566. The firm’s 50 day moving average price is $7.92 and its 200-day moving average price is $9.00. 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 twelve month low of $6.07 and a twelve month high of $12.74. The company has a market capitalization of $137.61 million, a price-to-earnings ratio of 15.23 and a beta of 1.03.

Insiders Place Their Bets

In other news, CEO Daniel Neville bought 30,349 shares of the business’s stock in a transaction on Friday, March 14th. The shares were bought at an average cost of $6.52 per share, for a total transaction of $197,875.48. Following the completion of the acquisition, the chief executive officer now owns 161,011 shares in the company, valued at approximately $1,049,791.72. This trade represents a 23.23 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leonard M. Tannenbaum purchased 32,007 shares of AFC Gamma stock in a transaction dated Friday, March 14th. The shares were purchased at an average cost of $6.52 per share, for a total transaction of $208,685.64. Following the completion of the transaction, the director now owns 3,909,876 shares of the company’s stock, valued at approximately $25,492,391.52. This represents a 0.83 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 141,606 shares of company stock valued at $899,941. 26.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Alliance Global Partners began coverage on shares of AFC Gamma in a research note on Tuesday, December 17th. They set a “buy” rating and a $13.00 price objective on the stock. JMP Securities reaffirmed a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd. Finally, Jefferies Financial Group downgraded AFC Gamma from a “buy” rating to a “hold” rating and cut their price objective for the company from $10.00 to $7.00 in a research report on Friday, March 14th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.67.

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.