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

AFC Gamma, Inc. (NASDAQ:AFCG) has received a consensus rating of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $11.67.

Several analysts recently commented on AFCG shares. Alliance Global Partners assumed coverage on shares of AFC Gamma in a report on Tuesday, December 17th. They set a “buy” rating and a $13.00 price target for the company. JMP Securities reiterated a “market perform” rating on shares of AFC Gamma in a research report on Thursday, January 23rd.

Institutional Investors Weigh In On AFC Gamma

A number of hedge funds and other institutional investors have recently made changes to their positions in AFCG. McIlrath & Eck LLC bought a new position in AFC Gamma during the third quarter valued at approximately $52,000. GSA Capital Partners LLP bought a new position in shares of AFC Gamma during the 3rd quarter valued at $140,000. Martingale Asset Management L P raised its holdings in shares of AFC Gamma by 24.1% during the 4th quarter. Martingale Asset Management L P now owns 20,623 shares of the company’s stock valued at $172,000 after purchasing an additional 4,005 shares in the last quarter. Centiva Capital LP bought a new position in shares of AFC Gamma during the 3rd quarter valued at $193,000. Finally, Barclays PLC raised its holdings in shares of AFC Gamma by 257.0% during the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock valued at $231,000 after purchasing an additional 16,245 shares in the last quarter. 26.53% of the stock is owned by hedge funds and other institutional investors.

AFC Gamma Trading Up 1.0 %

Shares of NASDAQ AFCG opened at $8.72 on Tuesday. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.29. AFC Gamma has a one year low of $7.94 and a one year high of $13.28. The business has a 50-day moving average price of $8.63 and a two-hundred day moving average price of $9.46. The firm has a market capitalization of $191.40 million, a PE ratio of 21.80 and a beta of 1.05.

AFC Gamma Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 15.14%. The ex-dividend date was Tuesday, December 31st. AFC Gamma’s dividend payout ratio (DPR) is presently 330.00%.

About AFC Gamma

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.