AFC Gamma, Inc. (NASDAQ:AFCG) Receives $11.67 Average PT from Analysts

AFC Gamma, Inc. (NASDAQ:AFCG) has earned a consensus recommendation of “Moderate Buy” from the five analysts that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $11.67.

AFCG has been the subject of a number of research reports. JMP Securities reiterated a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Alliance Global Partners initiated coverage on AFC Gamma in a research report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price objective for the company.

Hedge Funds Weigh In On AFC Gamma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AFCG. Tidal Investments LLC boosted its holdings in AFC Gamma by 19.7% during the third quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock worth $5,305,000 after buying an additional 85,655 shares during the last quarter. Centiva Capital LP bought a new position in AFC Gamma during the third quarter worth about $193,000. Barclays PLC boosted its holdings in AFC Gamma by 257.0% during the third quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after buying an additional 16,245 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in AFC Gamma by 22.9% during the third quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock worth $799,000 after buying an additional 14,570 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in AFC Gamma during the third quarter worth about $140,000. Institutional investors own 26.53% of the company’s stock.

AFC Gamma Price Performance

Shares of AFCG stock opened at $8.49 on Friday. The stock has a 50-day moving average price of $8.41 and a 200 day moving average price of $9.32. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29. The firm has a market cap of $186.38 million, a price-to-earnings ratio of 21.23 and a beta of 1.03. AFC Gamma has a 12 month low of $7.80 and a 12 month high of $13.28.

AFC Gamma Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 15.55%. The ex-dividend date of this dividend was Tuesday, December 31st. AFC Gamma’s dividend payout ratio (DPR) is currently 330.00%.

AFC Gamma Company Profile

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.