AFC Gamma (NASDAQ:AFCG) Director Leonard Tannenbaum Acquires 25,198 Shares

Key Points

• Director Leonard Tannenbaum purchased 25,198 AFC Gamma shares at an average price of $3.50, investing $88,193 and increasing his stake by 0.37% to 6.92 million shares.
• AFC Gamma reported quarterly EPS of $0.23, exceeding the $0.19 consensus estimate, though revenue of $6.77 million fell short of the $8.59 million forecast.
• The company declared a quarterly dividend of $0.05, equivalent to $0.20 annually and a 5.7% yield. Analysts’ average rating is currently “Reduce,” with one Hold and one Sell rating.

AFC Gamma Inc. (NASDAQ:AFCG - Get Free Report) Director Leonard Tannenbaum acquired 25,198 shares of the firm's stock in a transaction dated Monday, September 14th. The shares were acquired at an average price of $3.50 per share, with a total value of $88,193.00. Following the acquisition, the director owned 6,924,497 shares in the company, valued at approximately $24,235,739.50. The trade was a 0.37% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

AFC Gamma Stock Up 0.6%

Shares of AFC Gamma stock traded up $0.02 during trading on Tuesday, reaching $3.52. The company's stock had a trading volume of 29,400 shares, compared to its average volume of 225,227. AFC Gamma Inc. has a 1-year low of $2.06 and a 1-year high of $4.65. The company has a 50-day simple moving average of $3.09 and a two-hundred day simple moving average of $3.03. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.69. The company has a market cap of $79.81 million, a price-to-earnings ratio of 18.53 and a beta of 0.95.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.04. The company had revenue of $6.77 million for the quarter, compared to analyst estimates of $8.59 million. AFC Gamma had a return on equity of 2.85% and a net margin of 15.64%. As a group, equities analysts forecast that AFC Gamma Inc. will post 0.72 earnings per share for the current year.

AFC Gamma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Wednesday, September 30th. AFC Gamma's dividend payout ratio (DPR) is presently 105.26%.

Analyst Ratings Changes

Several analysts have weighed in on AFCG shares. Wall Street Zen downgraded shares of AFC Gamma from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of AFC Gamma from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday, August 20th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, AFC Gamma currently has an average rating of "Reduce".

AFC Gamma Company Profile

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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