Seaport Res Ptn Comments on AFC Gamma FY2024 Earnings

AFC Gamma, Inc. (NASDAQ:AFCG) – Seaport Res Ptn issued their FY2024 earnings per share estimates for AFC Gamma in a research note issued to investors on Wednesday, February 19th. Seaport Res Ptn analyst S. Randhawa anticipates that the company will post earnings per share of $1.68 for the year. The consensus estimate for AFC Gamma’s current full-year earnings is $1.64 per share. Seaport Res Ptn also issued estimates for AFC Gamma’s Q4 2024 earnings at $0.35 EPS, Q1 2025 earnings at $0.38 EPS, Q2 2025 earnings at $0.41 EPS, Q3 2025 earnings at $0.43 EPS, Q4 2025 earnings at $0.44 EPS and FY2025 earnings at $1.66 EPS.

A number of other equities research analysts also recently weighed in on AFCG. Alliance Global Partners assumed coverage on AFC Gamma in a research report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price objective on the stock. JMP Securities reaffirmed a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AFC Gamma presently has a consensus rating of “Moderate Buy” and an average target price of $11.67.

AFC Gamma Price Performance

Shares of AFCG stock opened at $8.37 on Monday. AFC Gamma has a 1-year low of $7.80 and a 1-year high of $13.28. The stock’s 50-day moving average is $8.48 and its 200 day moving average is $9.44. The company has a market cap of $183.72 million, a P/E ratio of 20.93 and a beta of 1.05. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92.

AFC Gamma Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 15.77%. The ex-dividend date was Tuesday, December 31st. AFC Gamma’s dividend payout ratio is presently 330.00%.

Institutional Investors Weigh In On AFC Gamma

Several institutional investors have recently added to or reduced their stakes in AFCG. GSA Capital Partners LLP acquired a new stake in AFC Gamma in the third quarter worth about $140,000. Charles Schwab Investment Management Inc. boosted its holdings in AFC Gamma by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock worth $515,000 after acquiring an additional 2,200 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in AFC Gamma by 22.9% in the third quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock worth $799,000 after acquiring an additional 14,570 shares in the last quarter. Centiva Capital LP acquired a new stake in AFC Gamma in the third quarter worth about $193,000. Finally, State Street Corp boosted its holdings in AFC Gamma by 2.8% in the third quarter. State Street Corp now owns 376,611 shares of the company’s stock worth $3,968,000 after acquiring an additional 10,320 shares in the last quarter. Institutional investors and hedge funds own 26.53% of the company’s stock.

About AFC Gamma

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other various commercial real estate loans and debt securities for established companies operating in the cannabis industry. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.