AFC Gamma, Inc. to Post Q3 2024 Earnings of $0.33 Per Share, Seaport Res Ptn Forecasts (NASDAQ:AFCG)

AFC Gamma, Inc. (NASDAQ:AFCG) – Investment analysts at Seaport Res Ptn issued their Q3 2024 EPS estimates for AFC Gamma in a research note issued to investors on Tuesday, October 8th. Seaport Res Ptn analyst S. Randhawa forecasts that the company will earn $0.33 per share for the quarter. Seaport Res Ptn has a “Strong-Buy” rating on the stock. The consensus estimate for AFC Gamma’s current full-year earnings is $1.66 per share. Seaport Res Ptn also issued estimates for AFC Gamma’s FY2024 earnings at $1.71 EPS, Q3 2025 earnings at $0.43 EPS and Q4 2025 earnings at $0.44 EPS.

AFC Gamma (NASDAQ:AFCG) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.05. The company had revenue of $19.96 million during the quarter, compared to the consensus estimate of $16.48 million. AFC Gamma had a return on equity of 12.41% and a net margin of 21.97%.

A number of other analysts have also recently weighed in on the stock. Compass Point upgraded shares of AFC Gamma from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $10.00 to $9.00 in a research note on Friday, August 16th. JMP Securities reissued a “market perform” rating on shares of AFC Gamma in a research report on Thursday, June 27th. Finally, Jefferies Financial Group decreased their price target on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $11.00.

AFC Gamma Stock Up 1.0 %

AFCG opened at $9.72 on Friday. AFC Gamma has a twelve month low of $8.06 and a twelve month high of $13.35. The company has a debt-to-equity ratio of 0.11, a quick ratio of 4.77 and a current ratio of 4.77. The business has a 50 day moving average price of $10.09 and a 200 day moving average price of $11.01. The firm has a market cap of $200.91 million, a P/E ratio of 13.32 and a beta of 1.05.

Institutional Trading of AFC Gamma

A number of hedge funds have recently bought and sold shares of AFCG. Hartline Investment Corp acquired a new position in shares of AFC Gamma during the first quarter valued at about $133,000. Newbridge Financial Services Group Inc. grew its position in AFC Gamma by 40.8% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 18,300 shares of the company’s stock worth $220,000 after buying an additional 5,300 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in AFC Gamma by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company’s stock valued at $284,000 after acquiring an additional 1,071 shares during the period. Anson Funds Management LP acquired a new position in AFC Gamma in the 1st quarter valued at approximately $319,000. Finally, Spire Wealth Management lifted its position in shares of AFC Gamma by 141.5% in the 2nd quarter. Spire Wealth Management now owns 29,700 shares of the company’s stock worth $362,000 after acquiring an additional 17,400 shares during the period. 26.53% of the stock is owned by institutional investors.

AFC Gamma Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 13.58%. The ex-dividend date is Monday, September 30th. AFC Gamma’s dividend payout ratio (DPR) is currently 180.82%.

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.