AFC Gamma Inc. (NASDAQ:AFCG) Declares Quarterly Dividend of $0.15

Key Points

• AFC Gamma Inc. has declared a quarterly dividend of $0.15 per share, with a yield of 13.3%, set to be paid on October 15th to investors of record as of September 30th.
• The company's current payout ratio is 78.6%, indicating it's currently covering its dividend with earnings, but this may change if future earnings decline.
• AFC Gamma's stock price is down 2.3% to $4.52, with a new price target set by analysts at $4.50 following a rating downgrade from "buy" to "hold."

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) declared a quarterly dividend on Monday, September 15th, RTT News reports. Investors of record on Tuesday, September 30th will be paid a dividend of 0.15 per share on Wednesday, October 15th. This represents a c) annualized dividend and a yield of 13.3%.

AFC Gamma has a payout ratio of 78.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities research analysts expect AFC Gamma to earn $1.71 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 53.8%.

AFC Gamma Stock Down 2.3%

NASDAQ AFCG traded down $0.11 during midday trading on Monday, hitting $4.52. 26,826 shares of the company traded hands, compared to its average volume of 221,623. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.13 and a quick ratio of 3.13. The company has a market cap of $102.17 million, a PE ratio of -11.04 and a beta of 1.07. The company's 50-day simple moving average is $4.48 and its 200-day simple moving average is $5.20. AFC Gamma has a 52 week low of $3.44 and a 52 week high of $10.88.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners cut AFC Gamma from a "buy" rating to a "hold" rating and set a $4.50 price objective for the company. in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.75.

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.

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