AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Buys 35,000 Shares

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum acquired 35,000 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were purchased at an average price of $3.46 per share, for a total transaction of $121,100.00. Following the purchase, the director directly owned 6,884,299 shares of the company’s stock, valued at approximately $23,819,674.54. This trade represents a 0.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

AFC Gamma Trading Up 4.7%

NASDAQ AFCG opened at $3.55 on Friday. The stock has a market cap of $80.49 million, a P/E ratio of 18.68 and a beta of 0.95. The company’s fifty day simple moving average is $3.08 and its 200-day simple moving average is $3.01. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.69. AFC Gamma Inc. has a 52 week low of $2.06 and a 52 week high of $4.70.

AFC Gamma (NASDAQ:AFCG) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. The business had revenue of $6.77 million during the quarter, compared to analyst estimates of $8.59 million. Equities research analysts predict that AFC Gamma Inc. will post 0.72 EPS for the current fiscal year.

AFC Gamma Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.20 annualized dividend and a dividend yield of 5.6%. AFC Gamma’s dividend payout ratio (DPR) is currently 105.26%.

Analysts Set New Price Targets

AFCG has been the topic of several recent analyst reports. Weiss Ratings upgraded AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 20th. Wall Street Zen lowered AFC Gamma from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

About AFC Gamma

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.