AFC Gamma (NASDAQ:AFCG) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of AFC Gamma (NASDAQ:AFCG) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

AFCG has been the subject of several other reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AFC Gamma in a research report on Friday, July 17th. Zacks Research upgraded shares of AFC Gamma from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $4.50.

AFC Gamma Stock Performance

Shares of AFCG stock opened at $2.75 on Friday. The stock has a fifty day moving average of $3.13 and a 200 day moving average of $2.82. AFC Gamma has a 52 week low of $2.06 and a 52 week high of $5.10. The firm has a market capitalization of $64.71 million, a price-to-earnings ratio of -4.30 and a beta of 0.91. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.68.

AFC Gamma Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date of this dividend was Tuesday, June 30th. AFC Gamma’s dividend payout ratio (DPR) is -31.25%.

Insider Transactions at AFC Gamma

In related news, Director Leonard M. Tannenbaum acquired 90,600 shares of the stock in a transaction on Thursday, May 14th. The stock was acquired at an average price of $2.84 per share, for a total transaction of $257,304.00. Following the completion of the purchase, the director owned 6,516,775 shares of the company’s stock, valued at $18,507,641. This represents a 1.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 30.70% 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.