AFC Gamma (NASDAQ:AFCG) Director Acquires $37,207.94 in Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 14,366 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was acquired at an average cost of $2.59 per share, for a total transaction of $37,207.94. Following the purchase, the director owned 6,328,192 shares of the company’s stock, valued at $16,390,017.28. This trade represents a 0.23% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

AFC Gamma Stock Up 2.3%

Shares of AFCG opened at $2.66 on Friday. The stock has a market cap of $62.59 million, a price-to-earnings ratio of -2.80 and a beta of 1.02. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 0.12. AFC Gamma Inc. has a 12 month low of $2.06 and a 12 month high of $6.38. The company has a 50-day moving average price of $2.42 and a two-hundred day moving average price of $3.00.

AFC Gamma (NASDAQ:AFCG) last released its quarterly earnings data on Wednesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.18). AFC Gamma had a negative net margin of 70.17% and a positive return on equity of 0.99%. The company had revenue of $8.71 million for the quarter, compared to analyst estimates of $5.36 million. Equities analysts predict that AFC Gamma Inc. will post 1.64 EPS for the current fiscal year.

AFC Gamma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.20 annualized dividend and a yield of 7.5%. AFC Gamma’s payout ratio is currently -55.79%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Zacks Research lowered AFC Gamma from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AFC Gamma in a report on Wednesday, January 21st. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Sell” and an average price target of $4.50.

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.