AFC Gamma: Spinoff Successful But Smoke Still Clearing [Seeking Alpha]
Advanced Flower Capital Inc. (AFCG)
Company Research
Source: Seeking Alpha
Summary AFC Gamma's Q2 distributable EPS rose to $0.56, enough to maintain the $0.48 dividend. The spinoff of the distressed CRE portfolio to Sunrise Realty Trust simplifies AFCG's focus on the cannabis industry, but book value and dividend yield are impacted. AFCG's new loan deals and opportunities to fund M&A by operators show potential, but meaningful growth of distributable EPS isn't yet clear for this mREIT. 4x6 I initially covered AFC Gamma ( NASDAQ: AFCG ) in May, rating it a Hold. This decision was informed by a mostly positive view of its role as a real estate lender for the cannabis industry, where supply of capital is low and allows for attractively high yields on its loans. AFCG's story, however, was complicated by its portfolio of distressed, non-cannabis loans in commercial real estate that were pending SEC approval for a spinoff into Sunrise Realty Trust ( SUNS Since then, the spinoff was approved and completed , and Q2 2024 results were also released . It'
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AFCG
News
- Seeking up to 14% Dividend Yield? Analysts Suggest 2 Dividend Stocks to Buy [Yahoo! Finance]Yahoo! Finance
- Advanced Flower Capital Inc. Announces Financial Results for Third Quarter 2024GlobeNewswire
- AFC Gamma Inc. (AFCG) Expected to Beat Earnings Estimates: Should You Buy? [Yahoo! Finance]Yahoo! Finance
- DigitalBridge (DBRG) Q3 Earnings and Revenues Miss Estimates [Yahoo! Finance]Yahoo! Finance
- Advanced Flower Capital Schedules Third Quarter 2024 Earnings Conference Call for November 13, 2024GlobeNewswire
AFCG
Earnings
- 11/13/24 - Beat
AFCG
Sec Filings
- 11/13/24 - Form 8-K
- 11/13/24 - Form 10-Q
- 10/22/24 - Form 8-K
- AFCG's page on the SEC website