Leonard Tannenbaum Acquires 15,223 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum purchased 15,223 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was bought at an average cost of $3.59 per share, for a total transaction of $54,650.57. Following the completion of the purchase, the director directly owned 6,849,299 shares in the company, valued at $24,588,983.41. This represents a 0.22% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

AFC Gamma Trading Down 1.4%

AFCG stock opened at $3.57 on Friday. AFC Gamma Inc. has a 12-month low of $2.06 and a 12-month high of $4.93. The business’s 50-day moving average is $3.05 and its 200 day moving average is $2.97. 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 stock has a market cap of $80.93 million, a price-to-earnings ratio of 18.79 and a beta of 0.95.

AFC Gamma (NASDAQ:AFCG) last announced its earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The business had revenue of $6.77 million during the quarter, compared to analysts’ expectations of $8.59 million. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%. On average, sell-side analysts anticipate that AFC Gamma Inc. will post 0.72 EPS for the current fiscal year.

AFC Gamma Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Tuesday, June 30th. AFC Gamma’s dividend payout ratio is currently 105.26%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AFCG. Wall Street Zen cut shares of AFC Gamma from a “buy” rating to a “hold” rating in a research note 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 investment analyst has 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 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.