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

AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) has been assigned an average rating of "Moderate Buy" from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $11.67.

Several equities analysts recently commented on the stock. Alliance Global Partners began coverage on shares of AFC Gamma in a research note on Tuesday, December 17th. They issued a "buy" rating and a $13.00 price target on the stock. Seaport Res Ptn upgraded shares of AFC Gamma to a "strong-buy" rating in a research report on Tuesday, October 8th. Finally, Jefferies Financial Group reduced their price target on AFC Gamma from $16.00 to $13.00 and set a "buy" rating on the stock in a research report on Tuesday, September 3rd.

Hedge Funds Weigh In On AFC Gamma

A number of institutional investors have recently modified their holdings of the business. McIlrath & Eck LLC bought a new position in AFC Gamma in the third quarter valued at about $52,000. GSA Capital Partners LLP bought a new stake in shares of AFC Gamma during the 3rd quarter valued at approximately $140,000. Centiva Capital LP acquired a new position in shares of AFC Gamma during the third quarter worth $193,000. Barclays PLC increased its holdings in AFC Gamma by 257.0% in the 3rd quarter. Barclays PLC now owns 22,567 shares of the company's stock worth $231,000 after purchasing an additional 16,245 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in AFC Gamma by 57.8% in the 3rd quarter. Geode Capital Management LLC now owns 24,225 shares of the company's stock valued at $248,000 after buying an additional 8,877 shares during the last quarter. Institutional investors and hedge funds own 26.53% of the company's stock.

AFC Gamma Stock Performance

NASDAQ AFCG traded down $0.26 on Monday, reaching $8.71. The stock had a trading volume of 226,710 shares, compared to its average volume of 150,776. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92. The company has a market cap of $191.21 million, a P/E ratio of 21.78 and a beta of 1.03. The firm has a fifty day moving average of $9.67 and a two-hundred day moving average of $10.16. AFC Gamma has a 1-year low of $8.06 and a 1-year high of $13.35.

AFC Gamma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 15.15%. The ex-dividend date of this dividend is Tuesday, December 31st. AFC Gamma's dividend payout ratio is presently 330.00%.

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.