AFC Gamma Inc. Plans Quarterly Dividend of $0.05 (NASDAQ:AFCG)

AFC Gamma Inc. (NASDAQ:AFCG) declared a quarterly dividend on Monday, June 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of 0.05 per share on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Tuesday, June 30th.

AFC Gamma has a payout ratio of 17.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AFC Gamma to earn $0.64 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 31.3%.

AFC Gamma Price Performance

AFCG opened at $3.33 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.41 and a current ratio of 1.41. AFC Gamma has a 52-week low of $2.06 and a 52-week high of $5.10. The stock has a market capitalization of $78.35 million, a PE ratio of -5.20 and a beta of 0.87. The stock’s 50 day moving average price is $3.15 and its 200-day moving average price is $2.82.

Insiders Place Their Bets

In other news, Director Leonard M. Tannenbaum purchased 90,600 shares of AFC Gamma stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of $2.84 per share, with a total value of $257,304.00. Following the completion of the purchase, the director directly owned 6,516,775 shares in the company, valued at approximately $18,507,641. This trade represents a 1.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired 423,317 shares of company stock valued at $1,115,902 over the last 90 days. 30.70% of the stock is owned by corporate insiders.

About AFC Gamma

AFC Gamma, Inc is a specialty finance real estate investment trust that focuses on providing structured financing solutions to companies operating and developing digital infrastructure and life science real estate assets. As a REIT, AFC Gamma seeks to generate attractive risk-adjusted returns through a diversified portfolio of loans, preferred equity and other financing structures that are secured by tangible property collateral or contractual revenue streams.

The company’s primary business activities include originating, acquiring and managing secured loans and equity investments that support wireless and broadband network deployment, data center expansion, and life sciences facility development.