Analysts Set AFC Gamma, Inc. (NASDAQ:AFCG) Price Target at $11.67

AFC Gamma, Inc. (NASDAQ:AFCG) has been given a consensus rating of “Moderate Buy” by the five ratings firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $11.67.

A number of brokerages recently commented on AFCG. Seaport Res Ptn upgraded AFC Gamma to a “strong-buy” rating in a research report on Tuesday, October 8th. Alliance Global Partners assumed coverage on shares of AFC Gamma in a research note on Tuesday, December 17th. They set a “buy” rating and a $13.00 price objective for the company. Finally, Jefferies Financial Group cut their price objective on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. McIlrath & Eck LLC acquired a new stake in shares of AFC Gamma during the 3rd quarter valued at about $52,000. GSA Capital Partners LLP acquired a new stake in AFC Gamma in the third quarter valued at approximately $140,000. Centiva Capital LP acquired a new stake in AFC Gamma in the third quarter valued at approximately $193,000. Barclays PLC increased its position in shares of AFC Gamma by 257.0% in the third quarter. Barclays PLC now owns 22,567 shares of the company’s stock valued at $231,000 after buying an additional 16,245 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of 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 period. Hedge funds and other institutional investors own 26.53% of the company’s stock.

AFC Gamma Stock Up 2.3 %

AFC Gamma stock opened at $8.91 on Monday. The business’s 50-day simple moving average is $9.59 and its two-hundred day simple moving average is $10.11. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.92 and a current ratio of 3.92. The company has a market cap of $195.60 million, a PE ratio of 22.28 and a beta of 1.03. AFC Gamma has a fifty-two week low of $8.06 and a fifty-two week high of $13.35.

AFC Gamma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 14.81%. AFC Gamma’s payout ratio is 330.00%.

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.