AFC Gamma (NASDAQ:AFCG) Releases Earnings Results, Beats Estimates By $0.01 EPS

AFC Gamma (NASDAQ:AFCG) issued its earnings results on Thursday. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01, Yahoo Finance reports. AFC Gamma had a return on equity of 11.93% and a net margin of 30.38%. The company had revenue of $15.97 million for the quarter, compared to analysts’ expectations of $18.06 million. During the same period last year, the business earned $0.61 EPS.

AFC Gamma Trading Up 2.2 %

Shares of NASDAQ:AFCG opened at $11.87 on Friday. The stock’s fifty day simple moving average is $11.67 and its two-hundred day simple moving average is $11.84. AFC Gamma has a 1-year low of $9.91 and a 1-year high of $14.60. The stock has a market cap of $242.86 million, a PE ratio of 11.64 and a beta of 1.03.

AFC Gamma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Sunday, March 31st will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 16.18%. The ex-dividend date is Wednesday, March 27th. AFC Gamma’s dividend payout ratio (DPR) is presently 188.24%.

Hedge Funds Weigh In On AFC Gamma

Large investors have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its stake in AFC Gamma by 18.7% during the 1st quarter. California State Teachers Retirement System now owns 6,425 shares of the company’s stock valued at $123,000 after acquiring an additional 1,011 shares in the last quarter. State Street Corp raised its stake in shares of AFC Gamma by 29.9% during the 1st quarter. State Street Corp now owns 201,921 shares of the company’s stock worth $3,970,000 after purchasing an additional 46,503 shares during the period. Vident Investment Advisory LLC raised its stake in shares of AFC Gamma by 66.3% during the 1st quarter. Vident Investment Advisory LLC now owns 33,500 shares of the company’s stock worth $641,000 after purchasing an additional 13,356 shares during the period. Northern Trust Corp lifted its stake in AFC Gamma by 17.4% in the first quarter. Northern Trust Corp now owns 126,126 shares of the company’s stock valued at $2,412,000 after purchasing an additional 18,711 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of AFC Gamma by 20.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,448 shares of the company’s stock worth $736,000 after acquiring an additional 6,464 shares during the period. 34.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, TheStreet upgraded AFC Gamma from a “d+” rating to a “c-” rating in a report on Tuesday, December 19th.

AFC Gamma Company Profile

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other types of loans and debt securities for established companies operating in the cannabis industry in states that have legalized medical and/or adult use cannabis. 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.