Key Points
- Director Leonard Tannenbaum bought 15,202 AFC Gamma shares at an average price of $3.46, investing approximately $52,599 and increasing his ownership to 6.72 million shares.
- AFC Gamma shares rose 4.7% to open at $3.60, while the company reported quarterly EPS of $0.23, beating estimates, though revenue of $6.77 million fell short of expectations.
- The company pays a quarterly dividend of $0.05 per share, equivalent to a 5.6% yield, but analysts maintain a consensus “Reduce” rating and the payout ratio is elevated at 105.26%.
AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum acquired 15,202 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was purchased at an average cost of $3.46 per share, for a total transaction of $52,598.92. Following the completion of the acquisition, the director owned 6,715,051 shares in the company, valued at approximately $23,234,076.46. This represents a 0.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
AFC Gamma Trading Up 4.7%
Shares of AFC Gamma stock opened at $3.60 on Friday. 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 firm has a 50-day moving average of $3.00 and a 200-day moving average of $2.92. AFC Gamma Inc. has a 52-week low of $2.06 and a 52-week high of $5.00. The stock has a market cap of $81.61 million, a PE ratio of 18.95 and a beta of 0.91.
AFC Gamma (NASDAQ:AFCG - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. The company had revenue of $6.77 million for the quarter, compared to analysts' expectations of $8.59 million. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. As a group, sell-side analysts forecast that AFC Gamma Inc. will post 0.72 EPS for the current year.
AFC Gamma Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Tuesday, June 30th. AFC Gamma's dividend payout ratio is 105.26%.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of AFC Gamma from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Weiss Ratings upgraded shares of AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 20th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Reduce".
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AFC Gamma Company Profile
(
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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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