AFC Gamma Inc. Announces Quarterly Dividend of $0.05 (NASDAQ:AFCG)

AFC Gamma Inc. (NASDAQ:AFCG) declared a quarterly dividend on Tuesday, September 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of 0.05 per share on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Wednesday, September 30th.

AFC Gamma has a dividend payout ratio of 17.1% meaning its dividend is sufficiently covered by earnings. Analysts expect AFC Gamma to earn $0.77 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 26.0%.

AFC Gamma Stock Up 0.6%

Shares of AFC Gamma stock traded up $0.02 during midday trading on Tuesday, reaching $3.52. 29,400 shares of the company’s stock traded hands, compared to its average volume of 225,227. The company has a market cap of $79.81 million, a price-to-earnings ratio of 18.53 and a beta of 0.95. The company’s 50 day simple moving average is $3.09 and its 200 day simple moving average is $3.03. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.34 and a current ratio of 1.34. AFC Gamma has a 52 week low of $2.06 and a 52 week high of $4.65.

AFC Gamma (NASDAQ:AFCG) last posted its earnings results on Thursday, August 13th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. The firm had revenue of $6.77 million for the quarter, compared to the consensus estimate of $8.59 million. Equities analysts expect that AFC Gamma will post 0.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on AFCG shares. Wall Street Zen downgraded AFC Gamma from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings raised AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 20th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce”.

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.