Brokerages Set AFC Gamma Inc. (NASDAQ:AFCG) Price Target at $6.83

Shares of AFC Gamma Inc. (NASDAQ:AFCG) have received a consensus recommendation of “Moderate Buy” from the four brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $5.75.

Separately, Alliance Global Partners restated a “neutral” rating and issued a $4.50 price target on shares of AFC Gamma in a report on Friday.

AFC Gamma Trading Down 7.7%

AFCG stock opened at $4.05 on Friday. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of 0.11. AFC Gamma has a twelve month low of $3.85 and a twelve month high of $10.88. The stock has a market capitalization of $91.49 million, a price-to-earnings ratio of -9.88 and a beta of 1.07. The firm’s fifty day simple moving average is $4.65 and its two-hundred day simple moving average is $5.77.

AFC Gamma Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.60 dividend on an annualized basis and a yield of 14.8%. AFC Gamma’s dividend payout ratio (DPR) is currently -146.34%.

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.