AFC Gamma, Inc. (NASDAQ:AFCG) Receives $11.67 Average PT from Brokerages

AFC Gamma, Inc. (NASDAQ:AFCG) has been assigned an average rating of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $11.67.

A number of research firms have recently issued reports on AFCG. Alliance Global Partners began coverage on shares of AFC Gamma in a report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price target on the stock. JMP Securities restated a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd.

AFC Gamma Stock Up 0.2 %

AFCG stock opened at $8.74 on Tuesday. AFC Gamma has a 52-week low of $7.94 and a 52-week high of $13.28. The company’s 50 day simple moving average is $8.61 and its 200-day simple moving average is $9.46. 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 firm has a market capitalization of $191.84 million, a P/E ratio of 21.85 and a beta of 1.05.

AFC Gamma Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.33 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.32 annualized dividend and a yield of 15.10%. AFC Gamma’s dividend payout ratio is presently 330.00%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AFCG. The Manufacturers Life Insurance Company increased its stake in AFC Gamma by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company’s stock valued at $284,000 after buying an additional 1,071 shares during the period. Ritholtz Wealth Management increased its stake in AFC Gamma by 91.1% in the 3rd quarter. Ritholtz Wealth Management now owns 60,820 shares of the company’s stock valued at $621,000 after buying an additional 28,998 shares during the period. GSA Capital Partners LLP acquired a new position in AFC Gamma in the 3rd quarter valued at approximately $140,000. Charles Schwab Investment Management Inc. increased its stake in AFC Gamma by 4.6% in 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. Finally, Penserra Capital Management LLC grew its position in AFC Gamma by 22.9% in the third quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock worth $799,000 after acquiring an additional 14,570 shares in the last quarter. Institutional investors and hedge funds own 26.53% of the company’s stock.

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.