AFC Gamma, Inc. (NASDAQ: AFCG – Get a rating) – Equity researchers at Jefferies Financial Group lowered their second-quarter 2022 EPS estimates for AFC Gamma shares in a research report released Tuesday, May 10. Jefferies Financial Group analyst J. Hecht now expects the company to post earnings of $0.60 per share for the quarter, down from its previous forecast of $0.64. Jefferies Financial Group also released estimates for AFC Gamma’s fourth quarter 2022 earnings at $0.72 EPS and full-year 2023 earnings at $3.12 EPS. AFC Gamma (NASDAQ:AFCG – Get a rating) last released its quarterly earnings data on Tuesday, May 10. The company reported earnings per share (EPS) of $0.62 for the quarter, beating the consensus estimate of $0.61 by $0.01. AFC Gamma posted a return on equity of 9.56% and a net margin of 55.06%. In the same quarter a year earlier, the company posted EPS of $0.45.
AFCG stock opened at $16.60 on Thursday. The company’s 50-day moving average is $18.18 and its 200-day moving average is $20.24. The company has a quick ratio of 4.30, a current ratio of 4.30 and a leverage ratio of 0.27. The company has a market capitalization of $327.73 million, a P/E ratio of 11.61 and a beta of 1.28. AFC Gamma has a 12-month low of $14.90 and a 12-month high of $25.50.
The company also recently declared a quarterly dividend, which was paid on Friday, April 15. Shareholders of record on Thursday, March 31 received a dividend of $0.55. The ex-dividend date was Wednesday, March 30. This represents a dividend of $2.20 on an annualized basis and a dividend yield of 13.25%. This is an increase from AFC Gamma’s previous quarterly dividend of $0.50. The AFC Gamma payout rate is 153.85%.
Several hedge funds have recently bought and sold shares of AFCG. Royal Bank of Canada increased its stake in AFC Gamma shares by 170.4% in the third quarter. Royal Bank of Canada now owns 1,344 shares of the company valued at $29,000 after purchasing an additional 847 shares during the period. Tcwp LLC acquired a new position in shares of AFC Gamma in Q1 worth $32,000. Morgan Stanley acquired a new stock position in AFC Gamma in Q1 worth $48,000. Strs Ohio increased its position in AFC Gamma shares by 70.6% in the 4th quarter. Strs Ohio now owns 2,900 shares of the company valued at $66,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Bank of America Corp DE bought a new equity stake in AFC Gamma in Q2 for $85,000. 37.72% of the shares are currently held by institutional investors.
About AFC Gamma (Get a rating)
AFC Gamma, Inc originates, structures, guarantees and invests in senior secured loans and other types of loans and debt instruments for established companies operating in the cannabis industry in states that have legalized the use medical and/or adult cannabis. It primarily issues loans structured as Senior Loans secured by real estate, equipment and licenses and/or other assets of the lending parties to the extent permitted by applicable laws and regulations governing such lending parties.
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