AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Purchases 53,273 Shares

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 53,273 shares of AFC Gamma stock in a transaction dated Monday, August 31st. The shares were purchased at an average price of $3.60 per share, with a total value of $191,782.80. Following the acquisition, the director 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

AFC Gamma Price Performance

Shares of NASDAQ AFCG opened at $3.49 on Wednesday. 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 cap of $79.12 million, a P/E ratio of 18.37 and a beta of 0.95. The business’s 50 day moving average is $3.02 and its 200-day moving average is $2.95. AFC Gamma Inc. has a 1-year low of $2.06 and a 1-year high of $5.00.

AFC Gamma (NASDAQ:AFCG) last announced its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The company had revenue of $6.77 million during 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%. Equities research analysts predict that AFC Gamma Inc. will post 0.72 earnings per share for the current year.

AFC Gamma Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.20 annualized dividend and a yield of 5.7%. AFC Gamma’s payout ratio is currently 105.26%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in 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 AFC Gamma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, AFC Gamma presently has a consensus rating of “Reduce”.

AFC Gamma Company Profile

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.