Key Points
- Director Leonard Tannenbaum purchased 65,752 AFC Gamma shares at an average price of $3.53, spending $232,104.56 and increasing his direct ownership by 0.98% to 6.78 million shares.
- AFC Gamma reported quarterly EPS of $0.23, exceeding the $0.19 consensus estimate, although revenue of $6.77 million fell short of the $8.59 million forecast.
- The company pays a $0.05 quarterly dividend, equivalent to a 5.7% annualized yield, while analysts maintain a generally cautious outlook with an average “Reduce” rating.
AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum acquired 53,273 shares of AFC Gamma stock in a transaction on Monday, August 31st. The stock was purchased at an average cost of $3.60 per share, with a total value of $191,782.80. Following the purchase, the director directly owned 6,834,076 shares of the company's stock, valued at approximately $24,602,673.60. This trade represents a 0.79% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
AFC Gamma Stock Performance
Shares of AFCG stock opened at $3.49 on Wednesday. The firm has a market capitalization of $79.12 million, a PE ratio of 18.37 and a beta of 0.95. The firm has a fifty day simple moving average of $3.02 and a two-hundred day simple moving average of $2.95. AFC Gamma Inc. has a 12 month low of $2.06 and a 12 month high of $5.00. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.69.
AFC Gamma (NASDAQ:AFCG - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.04. The company had revenue of $6.77 million for the quarter, compared to analyst estimates of $8.59 million. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. Analysts forecast that AFC Gamma Inc. will post 0.72 EPS for the current fiscal year.
AFC Gamma Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Tuesday, June 30th. AFC Gamma's dividend payout ratio is presently 105.26%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on AFCG. Weiss Ratings upgraded AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, August 20th. Wall Street Zen cut shares of AFC Gamma from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce".
View Our Latest Stock Analysis on AFC Gamma
About AFC Gamma
(
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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