Chart of Day: AFC Gamma (AFCG) – 6/22

Keep an eye on AFC Gamma (SYM: AFCG).

With a yield of 15.5%, the REIT targets direct lending and bridge loan opportunities, with a specialization in loans to state-licensed cannabis operators.


Helping, Leonard Tannenbaum, the company’s founder and executive chairman, paid $1.1 million for 88,835 shares, an average price of $12.01 each. As noted by Barron’s, he’s excited about the REIT’s spinoff off Sunrise Realty Trust, a commercial real estate lender that serves customers outside of the cannabis industry.

Even better, AFCG just declared a dividend of 48 cents per share, payable on July 15 to shareholders of record as of June 24.

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