Financial Performance - Second quarter 2024 GAAP net income was $16.4 million, or $0.80 per basic weighted average common share, with Distributable Earnings of $11.4 million, or $0.56 per share[1][2] - Distributable Earnings for the second quarter were $11.4 million, compared to $9.9 million in the same period last year, reflecting a year-over-year increase[16] - The company reported a decrease in the provision for current expected credit losses of $6.19 million for the quarter[16] Dividends - The company paid a dividend of $0.48 per common share for the second quarter, distributing a total of $9.9 million in dividends[3] - AFC Gamma's management believes that Distributable Earnings is a useful indicator for assessing overall business performance and dividend sustainability[11] Business Strategy - AFC Gamma is now a pure-play cannabis lender following the spin-off of its commercial real estate portfolio on July 9, 2024, aiming to meet or exceed a $100 million origination goal for the year[2] - The active portfolio management has shown positive momentum, with reduced reserves and increased book value, indicating effective strategic initiatives[2] Investor Relations - The company emphasizes the importance of monitoring its Investor Relations webpage for material information and updates[5] Forward-Looking Statements - Forward-looking statements indicate that future growth and strategies are subject to uncertainties and may differ from projections[17]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-39995 AFC GAMMA, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporati ...

Group 1 - AFC Gamma Inc. (AFCG) shares increased by 5.4% to $9.51 in the last trading session, following a significant volume of shares traded, contrasting with a 28.1% loss over the past four weeks [1] - The stock's rally was driven by positive sentiment regarding the recent spin-off of its commercial real estate portfolio into an independent company, Sunrise Realty Trust, Inc. (SUNS), allowing both companies to focus on their respective markets [1] - The spin-off is expected to enhance investor confidence by enabling each company to concentrate on its specialized portfolio and adjust business strategies accordingly [1] Group 2 - AFC Gamma is projected to report quarterly earnings of $0.50 per share, reflecting a year-over-year increase of 2%, while revenues are anticipated to decline by 6.8% to $16.48 million [2] - The consensus EPS estimate for AFC Gamma has remained stable over the past 30 days, indicating that stock price movements may not sustain without changes in earnings estimate revisions [2] - The stock currently holds a Zacks Rank of 3 (Hold), indicating a neutral outlook within the REIT and Equity Trust industry [3] Group 3 - AGNC Investment, another company in the same industry, saw a 1.4% increase in its stock price, closing at $10.51, with a month-to-date return of 6.6% [3] - AGNC's consensus EPS estimate has also remained unchanged at $0.53, representing a year-over-year decrease of 20.9%, and it holds a Zacks Rank of 3 (Hold) [3]

WEST PALM BEACH, Fla., July 15, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (Nasdaq: AFCG) ("Advanced Flower Capital" or "AFC") today announced that it plans to report earnings for the quarter ended June 30, 2024 on Wednesday, August 7, 2024. Advanced Flower Capital will host a conference call at 10:00 am Eastern Time on Wednesday, August 7, 2024 to discuss its quarterly financial results. All interested parties are welcome to participate. The call will be available through a live audio webcast at the Investor ...

WEST PALM BEACH, Fla., July 15, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (Nasdaq: AFCG) (“Advanced Flower Capital” or “AFC”) today announced that it plans to report earnings for the quarter ended June 30, 2024 on Wednesday, August 7, 2024. Advanced Flower Capital will host a conference call at 10:00 am Eastern Time on Wednesday, August 7, 2024 to discuss its quarterly financial results. All interested parties are welcome to participate. The call will be available through a live audio webcast at the Investor ...

Industry Overview - The cannabis industry is currently experiencing a progressive phase with increasing support for reform and better regulations, leading to heightened investor interest [1] - Market volatility is significant in the cannabis sector, making it essential for investors to have a strategic plan and conduct thorough research [2] Key Companies Innovative Industrial Properties, Inc. (IIPR) - IIPR focuses on acquiring, owning, and managing specialized properties leased to state-licensed cannabis operators [4] - The company announced a second-quarter 2024 dividend of $1.90 per share, reflecting a 4.4% increase from the previous quarter's dividend of $1.82 per share, resulting in an annualized dividend of $7.60 per share [6][7] AFC Gamma, Inc. (AFCG) - AFC Gamma specializes in originating, structuring, underwriting, and investing in senior secured loans and commercial real estate loans for established cannabis companies [8] - The company confirmed the completion date for the spin-off of its commercial real estate portfolio into an independent publicly-traded REIT, Sunrise Realty Trust, Inc., with shareholders receiving one share of SUNS for every three shares of AFCG held as of July 8, 2024 [9] NewLake Capital Partners, Inc. (NLCP) - NLCP is an internally managed real estate investment trust that provides capital to state-licensed cannabis operators through sale-leaseback transactions and funding for build-to-suit projects [10] - The company announced an increase in its Q2 2024 common stock dividend to $0.43 per share, equivalent to an annualized dividend of $1.72 per share, payable on July 15, 2024 [10]

Record Date for Distribution of Sunrise Realty Trust to be July 8, 2024Distribution Date to be July 9, 2024 WEST PALM BEACH, Fla., July 08, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("AFC Gamma") today reconfirms that the spin-off of its commercial real estate portfolio into an independent, publicly-traded REIT, Sunrise Realty Trust, Inc. ("SUNS"), will be completed on July 9, 2024. Shareholders of AFC Gamma common stock as of the close of business on July 8, 2024 (the "Record Date") will recei ...

Aerial_Views/E+ via Getty Images Real Estate Weekly Outlook U.S. equity markets were little changed this week while long-term benchmark interest rates surged as investors assessed the potential political and economic fallout from a disastrous debate performance by President Biden, setting the stage for a potentially volatile and unpredictable second half of 2024. Beneath the political drama, investors parsed corporate commentary and economic data that pointed towards a further slowdown in U.S. consumer spen ...

Core Viewpoint - AFC Gamma, Inc. is set to complete the spin-off of its commercial real estate portfolio into a new publicly-traded REIT, Sunrise Realty Trust, Inc., on July 9, 2024, with a special dividend declared for shareholders [1][2]. Group 1: Spin-Off Details - The spin-off will allow holders of AFC Gamma common stock as of July 8, 2024, to receive one share of SUNS common stock for every three shares of AFCG common stock held [2]. - The distribution of SUNS shares is expected to occur before the market opens on July 9, 2024, with SUNS trading on Nasdaq under the symbol "SUNS" [2]. - Fractional shares will not be issued; instead, cash will be provided for any fractional shares [2]. Group 2: Special Dividend - The Board of Directors declared a special dividend of $0.15 per share of AFC Gamma common stock, payable on July 15, 2024, to shareholders of record as of July 8, 2024 [2]. Group 3: Company Overview - AFC Gamma, Inc. is an institutional lender that focuses on loans secured by commercial real estate, targeting direct lending and bridge loan opportunities typically ranging from $10 million to $100 million [3]. - The company specializes in lending to state-law compliant cannabis operators and is based in West Palm Beach, Florida [3].

Record Date for Distribution of Sunrise Realty Trust to be July 8, 2024Distribution Date Expected to be July 9, 2024Board of Directors Declares $0.15 per Share Spin-Off Special Dividend WEST PALM BEACH, Fla., June 27, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma”) today announced that the previously announced spin-off of its commercial real estate portfolio is expected to be completed on July 9, 2024. The commercial real estate portfolio will spin-off into a new independent, publicly-t ...