AFC Gamma (NASDAQ:AFCG) Shares Down 2.8% – What’s Next?

Shares of AFC Gamma Inc. (NASDAQ:AFCG) dropped 2.8% during mid-day trading on Monday . The company traded as low as $2.70 and last traded at $2.73. Approximately 99,838 shares were traded during mid-day trading, an increase of 7% from the average daily volume of 93,594 shares. The stock had previously closed at $2.81.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AFCG shares. Weiss Ratings restated a “sell (d)” rating on shares of AFC Gamma in a report on Friday. Zacks Research upgraded AFC Gamma from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Finally, Wall Street Zen raised AFC Gamma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 27th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, AFC Gamma presently has an average rating of “Reduce” and an average price target of $4.50.

AFC Gamma Trading Down 1.5%

The company has a 50 day moving average of $3.25 and a 200 day moving average of $2.83. The firm has a market cap of $62.12 million, a P/E ratio of -4.12 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.41 and a current ratio of 1.41.

AFC Gamma Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend was Tuesday, June 30th. AFC Gamma’s payout ratio is currently -31.25%.

Insider Activity at AFC Gamma

In other AFC Gamma news, Director Leonard M. Tannenbaum purchased 90,600 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $2.84 per share, for a total transaction of $257,304.00. Following the acquisition, the director owned 6,516,775 shares of the company’s stock, valued at $18,507,641. This trade represents a 1.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 30.70% of the stock is currently owned by company insiders.

About AFC Gamma

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.