AFC Gamma (NASDAQ:AFCG) Upgraded at Zacks Research

Zacks Research upgraded shares of AFC Gamma (NASDAQ:AFCG) from a strong sell rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of AFC Gamma in a report on Monday. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $4.50.

AFC Gamma Price Performance

AFCG opened at $2.93 on Monday. AFC Gamma has a one year low of $2.06 and a one year high of $5.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.45 and a quick ratio of 3.45. The company’s 50 day simple moving average is $2.57 and its 200-day simple moving average is $2.80. The stock has a market capitalization of $68.94 million, a P/E ratio of -3.08 and a beta of 0.84.

AFC Gamma (NASDAQ:AFCG) last released its quarterly earnings data on Wednesday, March 4th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.18). AFC Gamma had a negative net margin of 70.17% and a positive return on equity of 0.99%. The company had revenue of $9.07 million during the quarter, compared to the consensus estimate of $5.36 million. Sell-side analysts anticipate that AFC Gamma will post 0.49 earnings per share for the current fiscal year.

AFC Gamma Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend was Tuesday, March 31st. AFC Gamma’s dividend payout ratio is currently -21.05%.

Insider Activity at AFC Gamma

In other news, Director Leonard M. Tannenbaum acquired 44,914 shares of AFC Gamma stock in a transaction dated Tuesday, March 24th. The shares were bought at an average cost of $2.59 per share, with a total value of $116,327.26. Following the purchase, the director owned 6,373,106 shares in the company, valued at $16,506,344.54. This trade represents a 0.71% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have acquired 519,008 shares of company stock valued at $1,331,588. Corporate insiders own 25.10% of the company’s stock.

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.