Key Points
- Director Leonard Tannenbaum bought 30,000 AFC Gamma shares at an average price of $3.41, investing $102,300 and increasing his direct ownership to 6.65 million shares.
- AFC Gamma’s latest quarterly results beat earnings expectations, with EPS of $0.23 versus the $0.19 consensus, though revenue of $6.77 million fell short of the $8.59 million estimate.
- The stock traded up 1.8% to $3.45, while analysts maintained a cautious outlook with a consensus rating of “Reduce.” The company’s $0.05 quarterly dividend implies a 5.8% yield, but its payout ratio is above 100%.
AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum purchased 30,000 shares of the firm's stock in a transaction on Monday, August 24th. The shares were purchased at an average price of $3.41 per share, with a total value of $102,300.00. Following the completion of the acquisition, the director directly owned 6,650,445 shares of the company's stock, valued at approximately $22,678,017.45. This trade represents a 0.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
AFC Gamma Trading Up 1.8%
Shares of NASDAQ:AFCG opened at $3.45 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.34 and a current ratio of 1.34. The stock's 50-day moving average is $2.99 and its 200-day moving average is $2.91. The company has a market cap of $78.21 million, a P/E ratio of 18.16 and a beta of 0.91. AFC Gamma Inc. has a 52-week low of $2.06 and a 52-week high of $5.10.
AFC Gamma (NASDAQ:AFCG - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $8.59 million. Equities research analysts predict that AFC Gamma Inc. will post 0.72 earnings per share for the current year.
AFC Gamma Dividend Announcement
The firm 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. This represents a $0.20 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Tuesday, June 30th. AFC Gamma's dividend payout ratio is currently 105.26%.
Analyst Ratings Changes
A number of equities analysts recently issued reports on AFCG shares. Wall Street Zen lowered shares of AFC Gamma from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, August 20th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, AFC Gamma currently has a consensus rating of "Reduce".
Check Out Our Latest Analysis on AFC Gamma
AFC Gamma Company Profile
(
Get Free Report)
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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