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

AFC Gamma Inc. (NASDAQ:AFCG) announced a quarterly dividend on Monday, June 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of 0.05 per share on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Tuesday, June 30th.

AFC Gamma has a dividend payout ratio of 17.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AFC Gamma to earn $0.64 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 31.3%.

AFC Gamma Price Performance

AFCG opened at $3.33 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.41 and a current ratio of 1.41. AFC Gamma has a 1-year low of $2.06 and a 1-year high of $5.10. The company has a 50-day moving average of $3.15 and a 200-day moving average of $2.82. The company has a market capitalization of $78.35 million, a P/E ratio of -5.20 and a beta of 0.87.

Wall Street Analysts Forecast Growth

AFCG has been the subject of a number of recent research reports. Zacks Research raised shares of AFC Gamma from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Wall Street Zen raised shares of AFC Gamma from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of AFC Gamma in a research note on Monday, April 20th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, AFC Gamma presently has an average rating of “Reduce” 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.