Key Points
- Director Leonard Tannenbaum bought 45,829 AFC Gamma shares at an average price of $3.06, investing approximately $140,237 and increasing his ownership by 0.70% to 6.56 million shares.
- AFC Gamma reported quarterly EPS of $0.23, beating estimates of $0.19, though revenue of $6.77 million fell short of the $8.59 million consensus forecast. The stock was reported up 9.8% and opened at $3.47.
- The company maintains a quarterly dividend of $0.05, equivalent to a 5.8% annual yield, but its 105.26% payout ratio is above earnings. Analyst sentiment remains cautious, with an average rating of “Reduce.”
AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum acquired 45,829 shares of the business's stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $3.06 per share, with a total value of $140,236.74. Following the completion of the transaction, the director owned 6,562,604 shares of the company's stock, valued at approximately $20,081,568.24. The trade was a 0.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
AFC Gamma Stock Up 9.8%
AFCG stock opened at $3.47 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $78.66 million, a PE ratio of 18.26 and a beta of 0.91. AFC Gamma Inc. has a 1-year low of $2.06 and a 1-year high of $5.10. The business's 50 day simple moving average is $2.99 and its 200 day simple moving average is $2.85.
AFC Gamma (NASDAQ:AFCG - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.04. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%.The business had revenue of $6.77 million for the quarter, compared to analysts' expectations of $8.59 million. As a group, research analysts anticipate that AFC Gamma Inc. will post 0.78 EPS for the current year.
AFC Gamma Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.20 annualized dividend and a dividend yield of 5.8%. AFC Gamma's dividend payout ratio is presently 105.26%.
Analyst Upgrades and Downgrades
Several brokerages recently commented on AFCG. Zacks Research raised shares of AFC Gamma from a "strong sell" rating to a "hold" rating in a report on Monday, April 20th. Wall Street Zen cut shares of AFC Gamma from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Weiss Ratings restated a "sell (d)" rating on shares of AFC Gamma in a research report on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Reduce".
Get Our Latest Report on AFC Gamma
About AFC Gamma
(
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AFC Gamma, Inc is a specialty finance real estate investment trust that focuses on providing structured financing solutions to companies operating and developing digital infrastructure and life science real estate assets. As a REIT, AFC Gamma seeks to generate attractive risk-adjusted returns through a diversified portfolio of loans, preferred equity and other financing structures that are secured by tangible property collateral or contractual revenue streams.
The company's primary business activities include originating, acquiring and managing secured loans and equity investments that support wireless and broadband network deployment, data center expansion, and life sciences facility development.
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