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

Key Points

• AFC Gamma declared a quarterly dividend of $0.05 per share, payable October 15 to shareholders of record September 30. The dividend implies a 5.7% yield and is supported by a 17.1% payout ratio.
• The company reported quarterly EPS of $0.23, exceeding analysts’ $0.19 estimate, although revenue of $6.77 million fell short of the $8.59 million consensus.
• Insiders have been buying shares, including Director Leonard Tannenbaum’s purchase of 65,752 shares; insiders now own 30.7% of AFC Gamma.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) declared a quarterly dividend on Tuesday, September 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of 0.05 per share on Thursday, October 15th. This represents a c) annualized dividend 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.6%

Shares of AFC Gamma stock traded up $0.02 on Tuesday, reaching $3.52. 29,400 shares of the company were exchanged, compared to its average volume of 225,227. The stock has a fifty day moving average price of $3.09 and a 200-day moving average price of $3.03. The firm has a market capitalization of $79.81 million, a price-to-earnings ratio of 18.53 and a beta of 0.95. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.69. AFC Gamma has a fifty-two week low of $2.06 and a fifty-two week high of $4.65.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.04. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%.The firm had revenue of $6.77 million for the quarter, compared to the consensus estimate of $8.59 million. On average, analysts expect that AFC Gamma will post 0.72 EPS for the current year.

Insider Activity at AFC Gamma

In related news, Director Leonard Tannenbaum purchased 65,752 shares of the company's stock in a transaction dated Friday, August 28th. The shares were acquired at an average cost of $3.53 per share, with a total value of $232,104.56. Following the completion of the purchase, the director owned 6,780,803 shares of the company's stock, valued at $23,936,234.59. The trade was a 0.98% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have acquired 318,987 shares of company stock worth $1,092,017. Insiders own 30.70% of the company's stock.

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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