AFC Gamma (AFCG) Declares $0.56 Dividend
AFC Gamma said on March 2, 2023 that its board of directors declared a regular quarterly dividend of $0.56 per share ($2.24 annualized). Previously, the company paid $0.56 per share.
Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on April 14, 2023.
At the current share price of $15.45 / share, the stock's dividend yield is 14.50%. Looking back five years and taking a sample every week, the average dividend yield has been 10.59%, the lowest has been 6.00%, and the highest has been 14.65%. The standard deviation of yields is 3.06 (n=83).
The current dividend yield is 1.28 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.27. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.56%, demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 50.10% Upside
As of March 8, 2023, the average one-year price target for AFC Gamma is $23.19. The forecasts range from a low of $17.68 to a high of $31.50. The average price target represents an increase of 50.10% from its latest reported closing price of $15.45.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for AFC Gamma is $77MM, an increase of 21.69%. The projected annual non-GAAP EPS is $2.51.
What is the Fund Sentiment?
There are 178 funds or institutions reporting positions in AFC Gamma. This is an increase of 2 owner(s) or 1.14% in the last quarter. Average portfolio weight of all funds dedicated to AFCG is 0.19%, a decrease of 12.38%. Total shares owned by institutions increased in the last three months by 0.67% to 9,043K shares. The put/call ratio of AFCG is 0.58, indicating a bullish outlook.
What are Large Shareholders Doing?
FKASX - Federated Kaufmann Small Cap Fund Shares holds 900K shares representing 4.42% ownership of the company. No change in the last quarter.
Federated Hermes holds 900K shares representing 4.42% ownership of the company. No change in the last quarter.
MJ - ETFMG Alternative Harvest ETF holds 781K shares representing 3.84% ownership of the company. In it's prior filing, the firm reported owning 489K shares, representing an increase of 37.37%. The firm increased its portfolio allocation in AFCG by 75.49% over the last quarter.
Wasatch Advisors holds 615K shares representing 3.02% ownership of the company. In it's prior filing, the firm reported owning 566K shares, representing an increase of 7.90%. The firm increased its portfolio allocation in AFCG by 8.13% over the last quarter.
Etf Managers Group holds 611K shares representing 3.00% ownership of the company. In it's prior filing, the firm reported owning 419K shares, representing an increase of 31.43%. The firm increased its portfolio allocation in AFCG by 58.96% over the last quarter.
AFC Gamma Background Information
(This description is provided by the company.)
AFC Gamma, Inc. is an institutional lender to leading cannabis companies with strong operations and cash-flow prospects, real-estate-security and other collateral, and locations in states with favorable supply/demand fundamentals and legislative environments. AFC’s platform provides innovative and customized financing solutions through first-lien loans, mortgage loans, construction loans and bridge financings. The senior-management team of the company has a combined approximately 100 years of experience in investment management and disciplined credit investing across a range of economic cycles.
This story originally appeared on Fintel.