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.