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AFC Gamma, Inc. - $AFCG STOCK NEWS

Welcome to our dedicated page for AFC Gamma news (Ticker: $AFCG), a resource for investors and traders seeking the latest updates and insights on AFC Gamma stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect AFC Gamma's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of AFC Gamma's position in the market.

Rhea-AI Summary

AFC Gamma (NASDAQ: AFCG) has provided a senior secured credit facility to Grön Holdings, a major producer of cannabis-infused edibles. This funding will help Grön expand into new states, particularly on the East Coast. AFC Gamma's CEO highlighted the company's capacity to offer adaptable financing solutions, while Grön's CEO praised AFC Gamma's swift execution and professionalism. The credit facility is secured by all of Grön's assets. This partnership aims to bolster Grön's multi-state presence and diversify AFC Gamma's portfolio. Grön, founded in 2015, currently operates in several states and across Canada.

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-0.57%
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Rhea-AI Summary

AFC Gamma (NASDAQ: AFCG) has announced the expected composition of its Board of Directors and that of Sunrise Realty Trust (SUNS) following the planned spin-off of its commercial real estate portfolio. The spin-off, due mid-2024, will see SUNS operating as a separate entity with REIT status, trading on Nasdaq. Key Board changes include the resignation of Jodi Hanson Bond and Jim Fagan from AFC Gamma’s Board, who will join SUNS post-spin-off. Alexander Frank will serve on both boards. AFC Gamma’s Board will consist of Leonard Tannenbaum, Thomas Harrison, Alexander Frank, Robert Levy, and Marnie Sudnow. SUNS’ Board will include Leonard Tannenbaum, Brian Sedrish, Alexander Frank, Jodi Hanson Bond, and Jim Fagan.

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0.73%
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Rhea-AI Summary

AFC Gamma, Inc. reported a GAAP net loss of $(0.1) million for the first quarter 2024, with Distributable Earnings of $10.0 million. They paid a dividend of $0.48 per common share for the same period. The company originated $90.4 million in loans, $34.0 million for cannabis operators and $56.4 million for real estate developers. AFC Gamma is optimistic about legislative developments in the cannabis industry. They encourage monitoring their website for updates. AFC Gamma will host a conference call to discuss the financial results.

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AFC Gamma, Inc. (NASDAQ:AFCG) will report earnings for the quarter ended March 31, 2024, on May 9, 2024. A conference call will be held to discuss financial results, open to all interested parties.
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AFC Gamma announces a $34.0 million debt capital investment in Florida's Sunburn Cannabis to support refinancing, working capital, and expansion plans. Sunburn aims to increase market share in the Florida cannabis market and build brand presence.
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AFC Gamma, Inc. (NASDAQ:AFCG) reported a GAAP net loss of $(9.2) million for Q4 2023, but a full-year net income of $21.0 million in 2023. Distributable Earnings were $10.0 million in Q4 and $41.4 million for the year. The company declared a dividend of $0.48 per share for Q1 2024 and announced plans for a pure play cannabis lending focus in 2024.
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AFC Gamma, Inc. (NASDAQ:AFCG) plans to spin-off its commercial real estate portfolio into an independent, publicly traded company, Sunrise Realty Trust, Inc. The separation aims to create two pure-play debt capital providers focusing on the cannabis industry and CRE in the southern U.S. The separation is expected to be completed by mid-2024, with AFC Gamma having a YTM of 21% and assets around $330 million, while SUNS with a YTM of 16% and assets around $115 million.
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AFC Gamma, Inc. committed $56.4 million for two commercial real estate mezzanine loans in January 2024. The loans were originated by Southern Realty Trust Inc. and are projected to have high-teens and mid-teens yields to maturity. The first loan was funded to DC Partners for a mixed-use project in Houston, Texas, while the second loan was committed to Belpointe PREP, LLC for a multi-family community development in downtown Sarasota, Florida. AFC Gamma's CEO, Daniel Neville, expressed excitement about the capital deployment and highlighted the alignment with the company's investment strategy.
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AFC Gamma, Inc. (NASDAQ:AFCG) will report earnings for the quarter and fiscal year ended December 31, 2023 on March 7, 2024. A conference call will be held to discuss the financial results, and interested parties can participate through a live audio webcast or via telephone.
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AFC Gamma, Inc. (NASDAQ:AFCG) declares $0.48 dividend per share for the quarter ending December 31, 2023
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AFC Gamma, Inc.

Nasdaq:AFCG

AFCG Rankings

AFCG Stock Data

258.13M
16.75M
22.87%
37.18%
3.03%
REIT - Specialty
Real Estate
Link
United States of America
WEST PALM BEACH

About AFCG

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, equipment loans, and bridge financings. the senior-management team of the company have more than 20 years of experience in disciplined credit investing across a range of economic cycles.