AFC Gamma, Inc. (NASDAQ:AFCG) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the five brokerages that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $11.67.

A number of equities research analysts recently issued reports on the company. Alliance Global Partners assumed coverage on AFC Gamma in a research report on Tuesday, December 17th. They issued a "buy" rating and a $13.00 target price on the stock. Seaport Res Ptn raised AFC Gamma to a "strong-buy" rating in a research report on Tuesday, October 8th.

AFC Gamma Stock Up 2.1 %

AFC Gamma stock traded up $0.18 during midday trading on Friday, reaching $8.62. The stock had a trading volume of 165,478 shares, compared to its average volume of 182,896. The firm's fifty day simple moving average is $9.10 and its 200-day simple moving average is $9.71. AFC Gamma has a 1-year low of $8.06 and a 1-year high of $13.28. The stock has a market capitalization of $189.21 million, a P/E ratio of 21.55 and a beta of 1.05. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92.

AFC Gamma Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.32 annualized dividend and a dividend yield of 15.31%. AFC Gamma's dividend payout ratio is currently 330.00%.

Institutional Trading of AFC Gamma

Institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in shares of AFC Gamma by 4.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company's stock valued at $284,000 after acquiring an additional 1,071 shares during the period. Renaissance Technologies LLC lifted its position in shares of AFC Gamma by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 134,400 shares of the company's stock valued at $1,640,000 after acquiring an additional 1,900 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of AFC Gamma by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company's stock valued at $515,000 after acquiring an additional 2,200 shares during the period. McIlrath & Eck LLC bought a new stake in shares of AFC Gamma during the 3rd quarter valued at $52,000. Finally, Geode Capital Management LLC lifted its position in shares of AFC Gamma by 57.8% during the 3rd quarter. Geode Capital Management LLC now owns 24,225 shares of the company's stock valued at $248,000 after acquiring an additional 8,877 shares during the period. 26.53% of the stock is currently owned by institutional investors.

About AFC Gamma

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.