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

Shares of AFC Gamma, Inc. (NASDAQ:AFCG) have been assigned an average recommendation of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $11.67.

Several brokerages have commented on AFCG. Alliance Global Partners began coverage on shares of AFC Gamma in a report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price objective for the company. Seaport Res Ptn upgraded shares of AFC Gamma to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, JMP Securities restated a “market perform” rating on shares of AFC Gamma in a report on Thursday.

AFC Gamma Trading Down 1.7 %

NASDAQ:AFCG opened at $8.12 on Friday. The company has a fifty day moving average of $9.00 and a 200 day moving average of $9.58. AFC Gamma has a 52 week low of $7.94 and a 52 week high of $13.28. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $178.23 million, a P/E ratio of 20.30 and a beta of 1.05.

AFC Gamma Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 16.26%. The ex-dividend date of this dividend was Tuesday, December 31st. AFC Gamma’s dividend payout ratio is presently 330.00%.

Institutional Trading of AFC Gamma

A number of hedge funds and other institutional investors have recently modified their holdings of AFCG. Tidal Investments LLC grew its position in AFC Gamma by 19.7% during the 3rd quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock valued at $5,305,000 after purchasing an additional 85,655 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in 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. State Street Corp lifted its stake 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 acquiring an additional 10,320 shares during the period. Geode Capital Management LLC lifted its stake in 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. Finally, Barclays PLC lifted its stake in AFC Gamma by 257.0% during the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock valued at $231,000 after acquiring an additional 16,245 shares during the period. 26.53% of the stock is owned by hedge funds and other institutional investors.

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.