AFC Gamma, Inc. (NASDAQ:AFCG) Receives $11.00 Consensus PT from Brokerages

AFC Gamma, Inc. (NASDAQ:AFCG) has been assigned a consensus recommendation of “Moderate Buy” from the four brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $11.00.

Several analysts have recently issued reports on AFCG shares. Seaport Res Ptn raised shares of AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th. Jefferies Financial Group decreased their price target on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Finally, Compass Point upgraded AFC Gamma from a “sell” rating to a “neutral” rating and dropped their target price for the company from $10.00 to $9.00 in a report on Friday, August 16th.

AFC Gamma Trading Up 0.9 %

Shares of AFCG stock opened at $9.73 on Thursday. The firm’s 50-day simple moving average is $9.90 and its 200-day simple moving average is $10.48. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92. AFC Gamma has a 1-year low of $8.06 and a 1-year high of $13.35. The firm has a market cap of $213.57 million, a P/E ratio of 24.33 and a beta of 1.05.

AFC Gamma Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.33 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.32 dividend on an annualized basis and a yield of 13.57%. AFC Gamma’s payout ratio is currently 330.00%.

Institutional Trading of AFC Gamma

Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its holdings in AFC Gamma by 4.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company’s stock worth $284,000 after acquiring an additional 1,071 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of AFC Gamma by 1.4% during the second quarter. Renaissance Technologies LLC now owns 134,400 shares of the company’s stock worth $1,640,000 after purchasing an additional 1,900 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in AFC Gamma by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock valued at $515,000 after buying an additional 2,200 shares during the last quarter. McIlrath & Eck LLC acquired a new stake in AFC Gamma during the third quarter valued at approximately $52,000. Finally, Geode Capital Management LLC lifted its holdings in AFC Gamma by 57.8% during the 3rd quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock worth $248,000 after buying an additional 8,877 shares during the last quarter. Institutional investors own 26.53% of the company’s stock.

About AFC Gamma

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.