AFC Gamma (NASDAQ:AFCG) Director Buys $88,805.92 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 34,288 shares of AFC Gamma stock in a transaction dated Monday, March 16th. The shares were acquired at an average cost of $2.59 per share, for a total transaction of $88,805.92. Following the transaction, the director directly owned 6,047,389 shares of the company’s stock, valued at approximately $15,662,737.51. This represents a 0.57% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

AFC Gamma Stock Down 1.1%

Shares of NASDAQ AFCG traded down $0.03 during midday trading on Monday, hitting $2.60. The company’s stock had a trading volume of 223,840 shares, compared to its average volume of 351,375. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.45 and a quick ratio of 3.45. The firm has a market capitalization of $61.18 million, a price-to-earnings ratio of -2.74 and a beta of 1.02. The business’s fifty day simple moving average is $2.44 and its two-hundred day simple moving average is $3.12. AFC Gamma Inc. has a 1 year low of $2.06 and a 1 year high of $6.82.

AFC Gamma (NASDAQ:AFCG) last announced its earnings results on Wednesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.18). The business had revenue of $8.71 million for the quarter, compared to analysts’ expectations of $5.36 million. AFC Gamma had a positive return on equity of 0.99% and a negative net margin of 70.17%. On average, equities analysts predict that AFC Gamma Inc. will post 1.64 EPS for the current year.

AFC Gamma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.7%. AFC Gamma’s dividend payout ratio is currently -55.79%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Zacks Research lowered AFC Gamma from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AFC Gamma in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Sell” and an average price target of $4.50.

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.