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

AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) declared 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 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 decline. Equities 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 %

AFCG stock traded down $0.18 during trading on Friday, reaching $8.69. 232,476 shares of the company traded hands, compared to its average volume of 150,934. The business has a 50 day simple moving average of $9.53 and a 200 day simple moving average of $10.05. AFC Gamma has a 12 month low of $8.06 and a 12 month high of $13.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92. 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

AFCG has been the topic of a number of recent analyst reports. Seaport Res Ptn upgraded shares of AFC Gamma to a "strong-buy" rating in a report on Tuesday, October 8th. Jefferies Financial Group lowered their target price on shares of AFC Gamma from $16.00 to $13.00 and set a "buy" rating for the company in a research note on Tuesday, September 3rd. Finally, Alliance Global Partners assumed coverage on shares of AFC Gamma in a report on Tuesday, December 17th. They issued a "buy" rating and a $13.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, AFC Gamma has an average rating of "Moderate Buy" and a consensus 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.