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

Key Points

• $0.05 quarterly dividend declared, payable April 15 to holders of record on March 31, which annualizes to $0.20 and represents a 7.5% yield.
• Dividend coverage looks solid with a current payout ratio of 17.1% and analysts projecting $1.71 EPS next year, implying an expected payout ratio of about 11.7%.
• Director Leonard M. Tannenbaum bought 115,237 shares at roughly $2.55, while insiders purchased 512,008 shares in the last 90 days and now own about 25.10% of the company.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) declared a quarterly dividend on Monday, March 2nd, NASDAQ Dividends reports. Investors of record on Tuesday, March 31st will be given a dividend of 0.05 per share on Wednesday, April 15th. This represents a c) annualized dividend and a yield of 7.5%. The ex-dividend date is Tuesday, March 31st.

AFC Gamma has a payout ratio of 17.1% meaning its dividend is sufficiently covered by earnings. Analysts expect AFC Gamma to earn $1.71 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 11.7%.

AFC Gamma Stock Performance

Shares of AFCG opened at $2.66 on Friday. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 0.12. The firm's fifty day simple moving average is $2.42 and its two-hundred day simple moving average is $2.99. AFC Gamma has a 12 month low of $2.06 and a 12 month high of $6.38. The stock has a market capitalization of $62.59 million, a P/E ratio of -2.80 and a beta of 1.02.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.18). The business had revenue of $8.71 million during the quarter, compared to the consensus estimate of $5.36 million. AFC Gamma had a positive return on equity of 0.99% and a negative net margin of 70.17%. As a group, analysts predict that AFC Gamma will post 1.64 EPS for the current year.

Insider Transactions at AFC Gamma

In other news, Director Leonard M. Tannenbaum acquired 115,237 shares of the firm's stock in a transaction dated Friday, March 20th. The stock was purchased at an average price of $2.55 per share, for a total transaction of $293,854.35. Following the completion of the acquisition, the director directly owned 6,313,826 shares in the company, valued at $16,100,256.30. The trade was a 1.86% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders purchased a total of 512,008 shares of company stock valued at $1,311,988 in the last 90 days. 25.10% of the stock is currently owned by corporate insiders.

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.

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