AFC Gamma, Inc. (NASDAQ:AFCG) Receives Consensus Rating of "Moderate Buy" from Analysts

AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the five research firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $11.67.

Several research analysts recently weighed in on AFCG shares. Alliance Global Partners initiated 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. JMP Securities restated a "market perform" rating on shares of AFC Gamma in a report on Thursday, January 23rd.

AFC Gamma Price Performance

NASDAQ:AFCG remained flat at $8.36 during trading hours on Friday. 193,209 shares of the company's stock were exchanged, compared to its average volume of 161,911. The stock has a market cap of $183.53 million, a price-to-earnings ratio of 20.90 and a beta of 1.03. The company's 50-day moving average is $8.41 and its 200 day moving average is $9.34. AFC Gamma has a 12 month low of $7.80 and a 12 month high of $13.28. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29.

AFC Gamma Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.33 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.32 annualized dividend and a yield of 15.79%. AFC Gamma's dividend payout ratio is currently 330.00%.

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AFCG. Charles Schwab Investment Management Inc. raised its holdings 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 buying an additional 2,200 shares during the period. Martingale Asset Management L P raised its stake in shares of AFC Gamma by 24.1% during the fourth quarter. Martingale Asset Management L P now owns 20,623 shares of the company's stock valued at $172,000 after purchasing an additional 4,005 shares during the period. McIlrath & Eck LLC acquired a new position in shares of AFC Gamma during the third quarter worth $52,000. Geode Capital Management LLC boosted its stake in shares of AFC Gamma by 57.8% in the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company's stock valued at $248,000 after purchasing an additional 8,877 shares during the period. Finally, State Street Corp grew its holdings in AFC Gamma by 2.8% during the 3rd quarter. State Street Corp now owns 376,611 shares of the company's stock valued at $3,968,000 after purchasing an additional 10,320 shares in the last quarter. Institutional investors and hedge funds own 26.53% of the company's stock.

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.