Leonard Tannenbaum Purchases 19,404 Shares of AFC Gamma (NASDAQ:AFCG) Stock

AFC Gamma Inc. (NASDAQ:AFCG) Director Leonard Tannenbaum bought 19,404 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were bought at an average price of $3.41 per share, for a total transaction of $66,167.64. Following the transaction, the director directly owned 6,699,849 shares in the company, valued at $22,846,485.09. This trade represents a 0.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

AFC Gamma Trading Up 4.7%

AFCG opened at $3.60 on Friday. AFC Gamma Inc. has a 1-year low of $2.06 and a 1-year high of $5.00. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.69. The company has a market cap of $81.61 million, a P/E ratio of 18.95 and a beta of 0.91. The company has a fifty day moving average price of $3.00 and a two-hundred day moving average price of $2.92.

AFC Gamma (NASDAQ:AFCG) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. AFC Gamma had a net margin of 15.64% and a return on equity of 2.85%. The company had revenue of $6.77 million for the quarter, compared to analysts’ expectations of $8.59 million. Analysts predict that AFC Gamma Inc. will post 0.72 EPS for the current fiscal year.

AFC Gamma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Tuesday, June 30th. AFC Gamma’s dividend payout ratio (DPR) is currently 105.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of AFC Gamma from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, August 20th. Wall Street Zen lowered AFC Gamma from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, AFC Gamma currently has a consensus rating of “Reduce”.

About AFC Gamma

AFC Gamma, Inc is a specialty finance real estate investment trust that focuses on providing structured financing solutions to companies operating and developing digital infrastructure and life science real estate assets. As a REIT, AFC Gamma seeks to generate attractive risk-adjusted returns through a diversified portfolio of loans, preferred equity and other financing structures that are secured by tangible property collateral or contractual revenue streams.

The company’s primary business activities include originating, acquiring and managing secured loans and equity investments that support wireless and broadband network deployment, data center expansion, and life sciences facility development.