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AFC Gamma Inc - AFCG STOCK NEWS

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

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.

News
AFC Gamma, Inc. Schedules First Quarter 2024 Earnings Conference Call for May 9, 2024
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.75%
Tags
earnings
-
News
AFC Gamma Provides Sunburn Cannabis with a Total of $34.0 Million Across Senior Secured Credit Facilities
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.69%
Tags
none
-
News
AFC Gamma, Inc. Announces Financial Results for Fourth Quarter and Full Year 2023
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.93%
Tags
earnings
News
AFC Gamma to Separate Commercial Real Estate Lending Business into Independent Public Company
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.35%
Tags
none
-
News
AFC Gamma Closes Two Syndicated Commercial Real Estate Loans
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.8%
Tags
none
-
News
AFC Gamma, Inc. Schedules Fourth Quarter and Annual 2023 Earnings Conference Call for March 7, 2024
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.74%
Tags
earnings
News
AFC Gamma Announces Fourth Quarter 2023 Dividend
Rhea-AI Summary
AFC Gamma, Inc. (NASDAQ:AFCG) declares $0.48 dividend per share for the quarter ending December 31, 2023
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.33%
Tags
dividends earnings
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News
AFC Gamma, Inc. Announces Financial Results for Third Quarter 2023
Rhea-AI Summary
AFC Gamma, Inc. (NASDAQ:AFCG) reported a third quarter GAAP net income of $8.0 million or $0.39 per basic weighted average common share and Distributable Earnings of $9.9 million or $0.49 per basic weighted average common share. The company also declared a dividend of $0.48 per common share for the third quarter 2023. Daniel Neville has been appointed as the new Chief Executive Officer, effective November 13, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.45%
Tags
earnings
-
News
AFC Gamma, Inc. Announces Appointment of Daniel Neville as New Chief Executive Officer
Rhea-AI Summary
AFC Gamma, a commercial real estate finance company, has appointed Daniel Neville as its new CEO, effective November 13, 2023. Neville previously served as the CFO for Ascend Wellness Holdings, a leading cannabis operator. Leonard Tannenbaum, the current CEO, will transition to the role of Executive Chairman and Chief Investment Officer. Tannenbaum expressed his confidence in Neville's expertise in the cannabis industry and highlighted the importance of having operational expertise in lending. Neville is excited to apply his experience in building a multi-state operator to AFC Gamma's underwriting and diligence process, as the company aims to expand its platform and provide capital to operators in the cannabis industry.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.85%
Tags
management
News
AFC Gamma, Inc. Schedules Third Quarter 2023 Earnings Conference Call for November 8, 2023
Rhea-AI Summary
AFC Gamma to report earnings for Q3 2023 on November 8, 2023
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.35%
Tags
earnings
Stock AFCG logo
AFC Gamma Inc

Nasdaq:AFCG

AFCG Rankings

#3598 Ranked by Market Cap
#4235 Ranked by Stock Gains
#21 Ranked by Dividends

AFCG Stock Data

238.09M
16.75M
22.87%
37.18%
3.03%
REIT - Specialty
Real Estate
Link
United States
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.