Analysts Set AFC Gamma, Inc. (NASDAQ:AFCG) PT at $11.67

AFC Gamma, Inc. (NASDAQ:AFCG) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $11.67.

Several research analysts have recently issued reports on AFCG shares. Alliance Global Partners initiated 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. Jefferies Financial Group reduced 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 report on Tuesday, October 8th.

AFC Gamma Stock Performance

Shares of AFCG stock opened at $8.69 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92. The business has a fifty day moving average of $9.53 and a 200 day moving average of $10.07. The firm has a market capitalization of $190.77 million, a price-to-earnings ratio of 21.73 and a beta of 1.03. AFC Gamma has a 1 year low of $8.06 and a 1 year high of $13.28.

AFC Gamma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 15.19%. The ex-dividend date is Tuesday, December 31st. AFC Gamma’s dividend payout ratio is currently 330.00%.

Institutional Investors Weigh In On AFC Gamma

Hedge funds and other institutional investors have recently made changes to their positions in the company. McIlrath & Eck LLC purchased a new stake in AFC Gamma during the third quarter worth $52,000. GSA Capital Partners LLP acquired a new position in shares of AFC Gamma in the third quarter worth about $140,000. Centiva Capital LP purchased a new stake in shares of AFC Gamma during the 3rd quarter worth about $193,000. Barclays PLC grew its position in shares of AFC Gamma by 257.0% during the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock valued at $231,000 after acquiring an additional 16,245 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of AFC Gamma by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company’s stock valued at $284,000 after purchasing an additional 1,071 shares in the last quarter. Institutional investors and hedge funds own 26.53% of the company’s stock.

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.