Wall Street expects a year-over-year decline in earnings on lower revenues when AFC Gamma Inc. (AFCG) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on November 13, 2024, might help the stock move higher if these key numbers are better th ...

WEST PALM BEACH, Fla., Sept. 13, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (Nasdaq:AFCG) (“AFC”) today announced its dividend for the quarter ending September 30, 2024. The Board of Directors of AFC declared a quarterly dividend of $0.33 for the quarter ending September 30, 2024 per outstanding share of common stock, payable on October 15, 2024 to the common stockholders of record on September 30, 2024. About AFC Gamma, Inc. AFC Gamma, Inc. (Nasdaq: AFCG) is a leading commercial mortgage REIT that provides i ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use fundamental analysis and ...

4x6 I initially covered AFC Gamma (NASDAQ:AFCG) in May, rating it a Hold. This decision was informed by a mostly positive view of its role as a real estate lender for the cannabis industry, where supply of capital is low and allows for attractively high yields on its loans. AFCG's story, however, was complicated by its portfolio of distressed, non-cannabis loans in commercial real estate that were pending SEC approval for a spinoff into Sunrise Realty Trust (SUNS). Since then, the spinoff was approved a ...

AFC Gamma Inc. (AFCG) closed the last trading session at $10.19, gaining 13% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $14.80 indicates a 45.2% upside potential.The mean estimate comprises five short-term price targets with a standard deviation of $3.56. While the lowest estimate of $9 indicates a 11.7% decline from the current price level, the most optimistic analyst expects ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they bel ...

Shares of AFC Gamma Inc. (AFCG) have gained 9.5% over the past four weeks to close the last trading session at $9.57, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $15 indicates a potential upside of 56.7%.The average comprises five short-term price targets ranging from a low of $10 to a high of $18, with a standard deviation of $3.16. While the lowest estimate indicates an in ...

Top Marijuana Stock Picks For Traders TodayThe cannabis industry continues to show why it is one of the fastest-growing sectors. As more people become comfortable with legal cannabis so is the idea of investing. For a long while people were scared to invest in cannabis. Currently, cannabis is still illegal however over half of the USA and several global regions have thriving marijuana businesses. From this people have been lowering their guard and taking more chances and ways to invest.The shortest road to ...

Financial Data and Key Metrics Changes - For Q2 2024, the company generated distributable earnings of $0.56 per basic weighted average share, with a GAAP net income of $16.4 million or $0.80 per share [9][21] - The company declared a dividend of $0.48 per share for the fifth consecutive quarter and a special dividend of $0.15 per share in connection with the spin-off [9][24] - As of June 30, 2024, total assets were $458 million, with cash and cash equivalents of $170.3 million [22] Business Line Data and Key Metrics Changes - The company successfully exited its largest credit facility, an $84 million loan, generating a 19.9% internal rate of return (IRR) [11] - A $24 million loan to Private Company C was prepaid, resulting in a 25.5% IRR [12] - The current portfolio has a weighted average yield to maturity of 19% [12] Market Data and Key Metrics Changes - The cannabis pipeline stands at $346 million, with three deals totaling $57.3 million closed year-to-date [15] - The launch of adult-use sales in Ohio is expected to drive growth in the cannabis market, with potential expansions in Florida and Pennsylvania [17] Company Strategy and Development Direction - The company has transitioned to a pure-play cannabis lender following the spin-off of its commercial real estate portfolio, allowing for a focused approach in the cannabis sector [7] - The management aims to reduce exposure to underperforming credits, reinvigorate origination efforts, and enhance underwriting processes [10][30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the cannabis industry's growth due to ongoing legalization efforts and increasing demand for capital [17][19] - The company is confident in its ability to deliver strong financial performance and generate value for shareholders, focusing on moving up the quality curve while targeting mid to high teens IRRs [19] Other Important Information - The CECL reserve was $25.2 million, approximately 9.1% of loans at carrying value, which decreased from $31.4 million in the previous quarter [23] - The company ended the quarter with $335.4 million of principal outstanding across 14 loans [22] Q&A Session Summary Question: Can you provide background on accomplishments since joining the company? - Management highlighted progress in managing underperforming credits, origination efforts, and active underwriting practices [28][30] Question: Are there changes in the supply side of capital? - Management noted that refinancing is primarily among existing players, with limited involvement from regional banks [32][33] Question: Can you provide pro forma numbers regarding the new dividend? - Management indicated that the Board will continue to declare dividends on a normal cadence, with a pro forma book value of approximately $5.56 per share post-spin-off [35]

Company Performance - AFC Gamma Inc. reported quarterly earnings of $0.56 per share, exceeding the Zacks Consensus Estimate of $0.50 per share, and up from $0.49 per share a year ago, representing an earnings surprise of 12% [1] - The company posted revenues of $19.96 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 21.10%, compared to year-ago revenues of $17.68 million [1] - Over the last four quarters, AFC Gamma has surpassed consensus EPS estimates two times and topped consensus revenue estimates once [1] Stock Performance - AFC Gamma shares have declined approximately 27.9% since the beginning of the year, while the S&P 500 has gained 9.9% [2] - The current consensus EPS estimate for the upcoming quarter is $0.50 on revenues of $16.12 million, and for the current fiscal year, it is $1.99 on revenues of $65.05 million [4] Industry Outlook - The REIT and Equity Trust industry, to which AFC Gamma belongs, is currently ranked in the top 20% of over 250 Zacks industries, indicating a favorable outlook [5] - The performance of AFC Gamma's stock may be influenced by the overall industry outlook, as the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [5] Future Earnings Expectations - The estimate revisions trend for AFC Gamma is mixed, leading to a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [4] - Ellington Credit, another company in the same industry, is expected to report quarterly earnings of $0.24 per share, reflecting a year-over-year change of +41.2%, with revenues anticipated to be $6.35 million, up 492% from the year-ago quarter [5][6]