AFC Gamma Inc. (NASDAQ:AFCG) Plans $0.05 Quarterly Dividend

AFC Gamma Inc. (NASDAQ:AFCG) announced a quarterly dividend on Tuesday, September 15th. Investors of record on Wednesday, September 30th will be given a dividend of 0.05 per share on Thursday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Wednesday, September 30th.

AFC Gamma has a dividend payout ratio of 17.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect AFC Gamma to earn $0.77 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 26.0%.

AFC Gamma Stock Performance

Shares of AFCG opened at $3.52 on Wednesday. The stock’s 50-day simple moving average is $3.10 and its 200 day simple moving average is $3.03. The stock has a market capitalization of $79.80 million, a price-to-earnings ratio of 18.53 and a beta of 0.95. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.34 and a current ratio of 1.34. AFC Gamma has a 52-week low of $2.06 and a 52-week high of $4.65.

AFC Gamma (NASDAQ:AFCG) last posted its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%.The business had revenue of $6.77 million during the quarter, compared to analyst estimates of $8.59 million. Research analysts forecast that AFC Gamma will post 0.72 EPS for the current fiscal year.

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.