Advanced Flower Capital Inc Stock Price, News & Analysis

AFC Gamma, Inc. (NASDAQ:AFCG) has announced its plans to report earnings for the fiscal year ended December 31, 2022, on March 7, 2023. A conference call will be held at 10:00 am ET on the same day to discuss the quarterly and annual financial results, and interested parties can participate via a live audio webcast on the company's website. AFC Gamma specializes in originating and underwriting loans secured by commercial real estate, targeting direct lending and bridge loan opportunities ranging from $5 million to $100 million across various sectors.

AFC Gamma, Inc. (NASDAQ:AFCG) declared a quarterly dividend of $0.56 per share for the quarter ending December 31, 2022. This dividend, representing a 12% year-over-year increase, will be payable on January 13, 2023, to stockholders of record as of December 31, 2022. AFC Gamma is known for providing lending solutions primarily to established operators in the cannabis industry, leveraging over 100 years of combined management experience.

AFC Foundation, linked to Advanced Flower Capital, has donated to Corners Outreach in Georgia, enhancing community support in the cannabis sector. This contribution demonstrates AFC's commitment to social change and upliftment in areas where they operate. Previous donations included support for Pennsylvania Court Appointed Special Advocates, Yo Soy Ella, and The Weldon Project. Corners Outreach focuses on empowering underserved students and families through education and economic opportunities, aiming to integrate better into local communities across Metro Atlanta.

AFC Gamma, Inc. (NASDAQ:AFCG) reported strong financial results for Q3 2022, achieving a net income of $11.5 million, or $0.57 per share, representing a 45% increase from Q3 2021.

Distributable earnings rose 64% year-over-year to $11.8 million, surpassing the declared $0.56 dividend, marking the seventh consecutive quarter of excess earnings over dividends. The company's book value per share increased to $17.06, and it closed $203.8 million in new commitments, with a robust portfolio yield of 20%.

AFC Gamma has amended its $100 million credit facility with Acreage Holdings, providing an additional $50 million. This comprises $25 million available for immediate draw and another $25 million to be accessed upon achieving specific milestones. The facility features a variable interest rate linked to the U.S. prime rate plus 5.75%, with a minimum rate of 5.50%. Funds will support Acreage's expansion and operational needs, particularly in the Northeast region, targeting growth in New Jersey, Connecticut, and New York.

AFC Gamma plans to report its third quarter earnings for the period ending September 30, 2022 on November 8, 2022. A conference call will occur at 10:00 am ET, allowing participation via a live audio webcast. This lender specializes in providing financing solutions to the cannabis industry, focusing on senior secured loans. AFC Gamma's management boasts over 100 years of cumulative experience in investment management and credit investing.

AFC Gamma, Inc. declared a $0.56 dividend per share for the quarter ending September 30, 2022, marking a 30.2% year-over-year increase. The dividend is payable on October 14, 2022, to shareholders on record as of September 30, 2022. AFC Gamma is an institutional lender specializing in financing solutions for the cannabis industry, providing senior secured loans to operators in legalized states. The company's management has over 100 years of combined experience in investment management and credit investing.

AFC Gamma reported a net income of $11.4 million or $0.58 per share for Q2 2022. Distributable earnings were $13.6 million, translating to $0.69 per share. The company announced a dividend of $0.56, reflecting a 47% increase from the previous year. Total loan commitments reached $483.2 million with an average yield to maturity of 18%. The book value increased to $17.03 per share as of June 30. Despite challenges in capital deployment due to market pressures, the company is optimistic about future deals.

AFC Gamma plans to report its second quarter earnings on August 9, 2022, for the period ending June 30, 2022. A conference call will be held at 10:00 am Eastern Time on the same day to discuss the financial results. The call is open to all interested parties and can be accessed via a live audio webcast on AFC Gamma's Investor Relations page. AFC Gamma specializes in providing lending solutions to operators in the cannabis industry, focusing on senior secured loans and financing in states that have legalized cannabis.