AFC Gamma Inc. (AFCG) to Distribute Quarterly Dividend of $0.05 on October 15th

AFC Gamma Inc. (NASDAQ:AFCG) announced a quarterly dividend on Tuesday, September 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of 0.05 per share on Thursday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Wednesday, September 30th.

AFC Gamma has a payout ratio of 17.1% meaning its dividend is sufficiently covered by earnings. Analysts expect AFC Gamma to earn $0.77 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 26.0%.

AFC Gamma Trading Down 1.4%

Shares of AFCG opened at $3.47 on Thursday. The business’s 50-day moving average price is $3.11 and its 200 day moving average price is $3.04. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $78.66 million, a P/E ratio of 18.26 and a beta of 0.95. AFC Gamma has a 1-year low of $2.06 and a 1-year high of $4.58.

AFC Gamma (NASDAQ:AFCG) last released its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. The business had revenue of $6.77 million for the quarter, compared to the consensus estimate of $8.59 million. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. Analysts expect that AFC Gamma will post 0.72 earnings per share for the current year.

Insider Activity at AFC Gamma

In related news, Director Leonard Tannenbaum acquired 25,198 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were purchased at an average cost of $3.50 per share, with a total value of $88,193.00. Following the completion of the transaction, the director owned 6,924,497 shares of the company’s stock, valued at approximately $24,235,739.50. This trade represents a 0.37% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased 359,185 shares of company stock worth $1,233,460 in the last ninety days. Company insiders own 30.70% of the company’s stock.

About AFC Gamma

AFC Gamma, Inc (NASDAQ: AFCG) is a commercial real estate finance company that provided institutional capital to businesses operating in state-regulated cannabis markets. The company primarily focused on lending to licensed cannabis operators and related businesses, an area historically underserved by traditional banks because cannabis remains illegal under U.S. federal law.

Its financing activities included secured loans backed by commercial real estate and other borrower assets. AFC Gamma offered capital for purposes such as facility acquisition, construction, expansion, refinancing and working capital.