AFC Gamma, Inc. Plans Quarterly Dividend of $0.33 (NASDAQ:AFCG)

AFC Gamma, Inc. (NASDAQ:AFCG) announced a quarterly dividend on Friday, December 13th,NASDAQ Dividends reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.33 per share on Wednesday, January 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 15.19%. The ex-dividend date of this dividend is Tuesday, December 31st.

AFC Gamma has a dividend payout ratio of 80.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect AFC Gamma to earn $1.48 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 89.2%.

AFC Gamma Stock Down 2.0 %

AFC Gamma stock traded down $0.18 during mid-day trading on Friday, reaching $8.69. The company’s stock had a trading volume of 232,476 shares, compared to its average volume of 150,934. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92. AFC Gamma has a 12 month low of $8.06 and a 12 month high of $13.28. The business’s 50 day simple moving average is $9.53 and its 200 day simple moving average is $10.06. The company has a market capitalization of $190.77 million, a price-to-earnings ratio of 21.73 and a beta of 1.03.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Jefferies Financial Group lowered their target price on AFC Gamma from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Alliance Global Partners began coverage on AFC Gamma in a report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price objective for the company. Two 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 an average rating of “Moderate Buy” and an average target price of $11.67.

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.