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

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. Shareholders of record on Tuesday, September 30th will be paid a dividend of 0.15 per share on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a yield of 14.2%. The ex-dividend date of this dividend is Tuesday, September 30th.

AFC Gamma has a payout ratio of 78.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. 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 Price Performance

Shares of AFCG traded down $0.27 during trading hours on Friday, hitting $4.24. 311,706 shares of the stock were exchanged, compared to its average volume of 224,505. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.13 and a current ratio of 3.13. AFC Gamma has a 12-month low of $3.44 and a 12-month high of $10.79. The company has a market cap of $95.67 million, a price-to-earnings ratio of -10.29 and a beta of 1.07. The stock's 50-day moving average price is $4.48 and its two-hundred day moving average price is $5.14.

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.