Profile
Sector:
Real EstateIndustry:
SpecialtyCountry:
United StatesIPO:
19 March 2021Website:
http://www.afcgamma.comNext earnings report:
08 August 2024Last dividends:
24 June 2024Next dividends:
08 July 2024Price
after hours | Mon, 01 Jul 2024 22:07:10 GMTAnalysts recommendations
Institutional Ownership
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AFCG Latest News
U.S. equity markets were little changed this week, while long-term benchmark interest rates surged as investors assessed the political and economic fallout from a disastrous debate performance by President Biden. Beneath the political drama, investors parsed corporate commentary and economic data that pointed towards a further slowdown in U.S. consumer spending, while inflation data showed a continued moderation in price pressures. Declining for just the second week in the past ten, the S&P 500 posted fractional declines on the week, but nevertheless held on to impressive first-half total returns of over 15%.
Record Date for Distribution of Sunrise Realty Trust to be July 8, 2024 Distribution Date Expected to be July 9, 2024 Board of Directors Declares $0.15 per Share Spin-Off Special Dividend
WEST PALM BEACH, Fla., June 04, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma”) today announced that it has successfully exited its $84.0 million loan to Subsidiary of Public Company H. This was AFC Gamma's largest loan in its portfolio and during our last earnings call, we noted that the borrower failed to make its April interest payment in May. Through active portfolio management, AFC Gamma is pleased to announce that it has sold the loan to a third-party at par plus accrued, which generated a 19.9% internal rate of return (“IRR”) over the life of the loan.
WEST PALM BEACH, Fla., May 20, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ: AFCG) (“AFC Gamma”) today announced the anticipated composition of the Boards of Directors for each of AFC Gamma and Sunrise Realty Trust, Inc. (“SUNS”) following the spin-off of AFC Gamma's commercial real estate portfolio, which is currently held in its wholly-owned subsidiary, SUNS (the “Spin-Off”). The Spin-Off is expected to be completed in mid-2024, at which time SUNS will operate as a separate company that intends to elect REIT status and trade on the Nasdaq exchange.
Cannabis real estate investment trusts (REIT) may experience significant growth due to a few important factors. Hedge fund manager Dougie Kass from Seabreeze Capital has predicted that the FDA will soon reclassify cannabis to a less restrictive category.
DDD, AFCG, and ASMIY were placed on the Zacks Rank #5 (Strong Sell) List on April 9, 2023.
Cannabis may be one of the most controversial investments. But it may also prove to be one of the most profitable this year for related cannabis stocks.
The U.S. cannabis industry is witnessing remarkable growth. With legalization expanding, projections are bullish. Sales may reach $30 billion by 2025. This surge underpins the potential of Cannabis Real Estate Investment Trusts (REITs). These entities own or finance income-producing real estate, specifically in the cannabis sector. They offer investors exposure to this booming market. Plus, they provide dividends from rental income. This week, certain Cannabis REITs stand out. They're noteworthy for their strategic acquisitions and robust financial health. Investors and analysts are keeping a close eye. These REITs might redefine industry benchmarks. They're becoming essential in portfolios. Their performance could signal broader industry trends.
AFC Gamma Inc. (AFCG) came out with quarterly earnings of $0.49 per share, missing the Zacks Consensus Estimate of $0.50 per share. This compares to earnings of $0.62 per share a year ago.
Top marijuana stocks Cannabis Real Estate Investment Trusts (REITs) are gaining attention in the investment community. They offer a unique entry point into the burgeoning cannabis industry. Additionally, by focusing on the real estate aspect, they provide investors exposure without direct involvement in cultivation or sales. This week, several top Cannabis REITs are on investors' watchlists. In general, they're known for stable dividends and growth potential. Their performance is closely tied to the expanding legal cannabis market in the U.S.
What type of business is AFC Gamma?
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 medicinal 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. AFC Gamma, Inc. has elected and qualified to be taxed as a real estate investment trust for the United States federal income tax purposes under the Internal Revenue Code of 1986. The company was incorporated in 2020 and is based in West Palm Beach, Florida.
What sector is AFC Gamma in?
AFC Gamma is in the Real Estate sector
What industry is AFC Gamma in?
AFC Gamma is in the Specialty industry
What country is AFC Gamma from?
AFC Gamma is headquartered in United States
When did AFC Gamma go public?
AFC Gamma initial public offering (IPO) was on 19 March 2021
What is AFC Gamma website?
https://www.afcgamma.com
Is AFC Gamma in the S&P 500?
No, AFC Gamma is not included in the S&P 500 index
Is AFC Gamma in the NASDAQ 100?
No, AFC Gamma is not included in the NASDAQ 100 index
Is AFC Gamma in the Dow Jones?
No, AFC Gamma is not included in the Dow Jones index
When does AFC Gamma report earnings?
The next expected earnings date for AFC Gamma is 08 August 2024