Afc Gamma, Inc. ( (AFCG) ) has released its Q3 earnings. Here is a breakdown of the information Afc Gamma, Inc. presented to its investors.
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Advanced Flower Capital Inc. is a commercial mortgage REIT specializing in providing institutional loans to state law-compliant cannabis operators in the U.S., leveraging deep industry expertise to manage loans secured by real estate and other assets.
In its third quarter of 2024 earnings report, Advanced Flower Capital Inc. announced a GAAP net income of $1.4 million and distributable earnings of $7.2 million. The company also paid its first post-spin dividend of $0.33 per common share, reflecting strong performance driven by active portfolio management and successful origination efforts.
Key highlights from the financial results include surpassing the 2024 target of $100 million in new originations, showcasing the company’s ability to support high-quality operators in critical markets. The company reported distributable earnings per basic weighted average share at $0.35, illustrating a robust financial position despite challenges in the broader market.
Looking ahead, Advanced Flower Capital remains focused on building momentum through strategic investments and origination efforts. Management’s outlook suggests continued emphasis on identifying opportunities in key markets, supporting growth and stability in the company’s financial performance.
