STOCK TITAN

Advanced Flower Capital Inc. - AFCG STOCK NEWS

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

AFC Gamma, Inc. (NASDAQ: AFCG) is a publicly traded, institutional lender specializing in providing finance solutions to commercial real estate and cannabis industry operators. Based in West Palm Beach, Florida, AFC Gamma offers a wide range of customized financing options, including first-lien loans, mortgage loans, construction loans, equipment loans, and bridge financings. The company primarily targets state-law compliant cannabis operators, making it a leader in a rapidly evolving industry.

AFC Gamma's senior management boasts over 20 years of experience in disciplined credit investing, guiding the company through various economic cycles. This expertise enables them to structure, underwrite, and manage senior secured loans effectively.

In recent developments, AFC Gamma declared a $0.48 dividend per share for Q4 2023 and committed $56.4 million in commercial real estate transactions in January 2024. The firm also plans to spin off its commercial real estate portfolio into a new publicly traded entity, Sunrise Realty Trust, Inc. (SUNS), allowing AFC Gamma to focus solely on the cannabis sector.

The company reported a GAAP net loss of $9.2 million for Q4 2023 but achieved distributable earnings of $10 million, reflecting its robust financial performance. AFC Gamma recently provided $34 million in debt capital to Sunburn Cannabis and $90.4 million in loans in Q1 2024, with $56.4 million allocated to commercial real estate and $34 million to cannabis operators.

In addition to its financial activities, AFC Gamma exited its largest loan of $84 million with a 19.9% IRR, showcasing its commitment to proactive portfolio management and shareholder value. The company’s strategic efforts and market focus position it well for future growth.

For more information, visit AFC Gamma's website.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.5%
Tags
-
Rhea-AI Summary

AFC Gamma, Inc. (NASDAQ:AFCG) announced its upcoming earnings report for the quarter ending March 31, 2023, scheduled for May 10, 2023. The company will hold a conference call at 10:00 AM ET on the same day to discuss its financial results. Interested participants can join via a live audio webcast available on AFC Gamma's investor relations website or by registering for a telephone participation link. AFC Gamma specializes in lending solutions, particularly to state-law compliant cannabis operators, targeting loans between $5 million and $100 million across various real estate sectors.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.25%
Tags
-
News
Rhea-AI Summary

AFC Gamma, Inc. (NASDAQ:AFCG) has appointed Brandon Hetzel as Chief Financial Officer and Treasurer, effective immediately. The Board of Directors approved this appointment on March 17, 2023. Hetzel has been with the company since September 2020 and has a strong background in real estate finance. He succeeds Brett Kaufman, who has left the company as part of efforts to rightsize the accounting team. Hetzel's experience includes work in real estate development and asset management, as well as a managerial role at PricewaterhouseCoopers. AFC Gamma specializes in lending secured by commercial real estate, including loans for state-law compliant cannabis operators.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.46%
Tags
none
Rhea-AI Summary

AFC Gamma, Inc. (NASDAQ:AFCG) reported its fourth quarter 2022 GAAP net income at $2.9 million or $0.14 per share, with Distributable Earnings at $12.6 million or $0.62 per share. For the full year, GAAP net income was $35.9 million or $1.80 per share, with Distributable Earnings reaching $49.9 million or $2.51 per share. A cash dividend of $0.56 per share was declared for the first quarter of 2023. The company highlighted its strong liquidity position and continued focus on credit quality in the face of macro challenges, while Robyn Tannenbaum was appointed as President, signaling leadership continuity. The 2023 Annual Shareholders Meeting is scheduled for May 18, 2023.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.32%
Tags
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.83%
Tags
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.77%
Tags
dividends
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.66%
Tags
none
-
Rhea-AI Summary

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%.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.06%
Tags
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.16%
Tags
none
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.53%
Tags

FAQ

What is the current stock price of Advanced Flower Capital (AFCG)?

The current stock price of Advanced Flower Capital (AFCG) is $8.91 as of December 24, 2024.

What is the market cap of Advanced Flower Capital (AFCG)?

The market cap of Advanced Flower Capital (AFCG) is approximately 195.6M.

What does AFC Gamma, Inc. specialize in?

AFC Gamma specializes in providing customized financing solutions to commercial real estate and state-law compliant cannabis operators.

Where is AFC Gamma, Inc. based?

AFC Gamma, Inc. is based in West Palm Beach, Florida.

What types of loans does AFC Gamma offer?

AFC Gamma offers first-lien loans, mortgage loans, construction loans, equipment loans, and bridge financings.

What recent achievements has AFC Gamma made?

AFC Gamma declared a $0.48 dividend per share for Q4 2023 and committed $56.4 million in transactions in January 2024. They also announced plans to spin off their commercial real estate portfolio into Sunrise Realty Trust, Inc.

Who manages AFC Gamma?

AFC Gamma's senior management team has over 20 years of experience in disciplined credit investing.

What financial performance did AFC Gamma report for Q4 2023?

AFC Gamma reported a GAAP net loss of $9.2 million for Q4 2023 but achieved distributable earnings of $10 million.

What is the significance of AFC Gamma's $34 million loan to Sunburn Cannabis?

The $34 million loan underscores AFC Gamma's commitment to fostering long-term relationships with borrowers and focusing on states with attractive supply and demand dynamics.

What is AFC Gamma's strategy regarding its loan portfolio?

AFC Gamma aims to reduce exposure to underperforming credits through proactive portfolio management, as evidenced by their recent exit from an $84 million loan.

What recent financial transactions has AFC Gamma been involved in?

AFC Gamma provided $34 million in debt capital to Sunburn Cannabis, $90.4 million in loans in Q1 2024, and exited its largest $84 million loan.

How can I learn more about AFC Gamma’s operations?

For more information, you can visit AFC Gamma's website at www.afcgamma.com.

Advanced Flower Capital Inc.

Nasdaq:AFCG

AFCG Rankings

AFCG Stock Data

195.60M
18.04M
17.84%
36.53%
2.32%
REIT - Mortgage
Real Estate
Link
United States of America
WEST PALM BEACH