AFC Gamma, Inc. (NASDAQ:AFCG) Shares Purchased by State Street Corp

State Street Corp raised its position in AFC Gamma, Inc. (NASDAQ:AFCG) by 2.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 376,611 shares of the company’s stock after acquiring an additional 10,320 shares during the period. State Street Corp’s holdings in AFC Gamma were worth $3,968,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AFCG. Renaissance Technologies LLC increased its holdings in AFC Gamma by 1.4% in the 2nd quarter. Renaissance Technologies LLC now owns 134,400 shares of the company’s stock valued at $1,640,000 after purchasing an additional 1,900 shares during the last quarter. AdvisorShares Investments LLC lifted its position in shares of AFC Gamma by 14.7% during the 2nd quarter. AdvisorShares Investments LLC now owns 124,606 shares of the company’s stock worth $1,505,000 after purchasing an additional 16,000 shares during the last quarter. Penserra Capital Management LLC increased its holdings in AFC Gamma by 22.9% in the third quarter. Penserra Capital Management LLC now owns 78,261 shares of the company’s stock valued at $799,000 after buying an additional 14,570 shares during the last quarter. Bank of New York Mellon Corp raised its stake in AFC Gamma by 15.2% in the second quarter. Bank of New York Mellon Corp now owns 75,763 shares of the company’s stock valued at $924,000 after buying an additional 10,016 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in AFC Gamma by 91.1% during the 3rd quarter. Ritholtz Wealth Management now owns 60,820 shares of the company’s stock worth $621,000 after buying an additional 28,998 shares during the last quarter. 26.53% of the stock is currently owned by hedge funds and other institutional investors.

AFC Gamma Price Performance

Shares of AFCG stock opened at $8.57 on Tuesday. AFC Gamma, Inc. has a twelve month low of $8.06 and a twelve month high of $13.28. The company has a market capitalization of $188.14 million, a PE ratio of 21.43 and a beta of 1.03. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29. The firm has a fifty day simple moving average of $9.53 and a 200-day simple moving average of $10.05.

AFC Gamma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.33 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.32 annualized dividend and a dividend yield of 15.40%. AFC Gamma’s payout ratio is 330.00%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AFCG. 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 target price for the company. Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Jefferies Financial Group dropped their price target on AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AFC Gamma presently has a consensus rating of “Moderate Buy” and an average price target of $11.67.

AFC Gamma 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.