Brings Extensive Operational Experience and Deep Cannabis Knowledge Leonard Tannenbaum to Transition to Role of Chief Investment Officer WEST PALM BEACH, Fla., Oct. 30, 2023 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("AFC Gamma"), a commercial real estate finance company, today announced the appointment of Daniel Neville, as its new Chief Executive Officer, effective November 13, 2023. Most recently, Mr. Neville served as the Chief Financial Officer for Ascend Wellness Holdings, Inc. ("AWH"), a leading multi-state, vertically integrated cannabis operator. He succeeds Leonard Tannenbaum, who will transition from his role as Chairman of the Board and Chief Executive Officer to

WEST PALM BEACH, Fla., June 14, 2023 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("AFC Gamma" or the "Company") today announced that the Board of Directors has appointed James C. Fagan as an independent director of the company, effective June 13, 2023. Leonard Tannenbaum, Chairman and Chief Executive Officer of AFC Gamma, stated, "We are thrilled that Jim has joined the AFC Gamma Board of Directors. Jim is a highly accomplished, expert voice in the commercial real estate industry, and his deep sector experience will be invaluable to our stakeholders. With over 40 years of experience at top names in the commercial space, we welcome Jim's insight and perspectives and look forward to

WEST PALM BEACH, Fla., Feb. 03, 2022 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("AFC Gamma") today announced the nomination and appointment of Marnie Sudnow to AFC Gamma's Board of Directors. Mrs. Sudnow brings over 20 years of experience in executing digital advertising and e-commerce strategies for global retailers. In connection with the appointment of Mrs. Sudnow, the Board was expanded to eight directors, six of whom are independent. "Marnie is an accomplished business leader and her extensive experience in advertising and technology make her an ideal addition to AFC Gamma's Board. Her distinct insights into the retail landscape bring unique and valuable insight on compelling

Brings Extensive Leadership Experience and Deep Financial Acumen Thomas Geoffroy to Transition to Role of Chief Financial Officer of AFC Gamma's External Manager, AFC Management, LLC WEST PALM BEACH, Fla., Aug. 05, 2021 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. ("AFC Gamma") (NASDAQ:AFCG), a commercial real estate finance company that provides loans to operators in the cannabis industry, today announced the appointment of Brett Kaufman as its new Chief Financial Officer and Treasurer, effective August 6, 2021. Mr. Kaufman most recently served as Senior Vice President and Chief Financial Officer of Ladenburg Thalmann Financial Services Inc. He succeeds Thomas Geoffroy, who served as the Company

4 - AFC Gamma, Inc. (0001822523) (Issuer)

Third quarter 2024 GAAP net income of $1.4 million or $0.06 per basic weighted average common share and Distributable Earnings(1)  of $7.2 million or $0.35 per basic weighted average common share Paid first post-spin dividend of $0.33 per common share for third quarter 2024 WEST PALM BEACH, Fla., Nov. 13, 2024 (GLOBE NEWSWIRE) -- Advanced Flower Capital Inc. (f/k/a AFC Gamma, Inc.) (NASDAQ:AFCG) ("Advanced Flower Capital", "AFC" or the "Company") today announced its results for the quarter ended September 30, 2024. AFC reported generally accepted accounting principles ("GAAP") net income of $1.4 million or $0.06 per basic weighted average common share and Distributable

WEST PALM BEACH, Fla., Oct. 14, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("Advanced Flower Capital" or "AFC") today announced that it plans to report earnings for the quarter ended September 30, 2024 on Wednesday, November 13, 2024. Advanced Flower Capital will host a conference call at 10:00 am Eastern Time on Wednesday, November 13, 2024 to discuss its quarterly financial results. All interested parties are welcome to participate. The call will be available through a live audio webcast at the Investor Relations section of AFC's website at http://advancedflowercapital.com/. To participate via telephone, please register in advance at this link. Upon registration, all telepho

WEST PALM BEACH, Fla., Oct. 07, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("Advanced Flower Capital" or "AFC") today announced that it has committed and funded $41 million to a senior secured credit facility to Story of Maryland, LLC ("Story MD"), a leading, vertically integrated operator in Maryland. Story MD intends to use the proceeds from the credit facility to refinance existing debt and provide working capital. "One of my top priorities since joining AFC has been to reinvigorate our origination engine, and I'm thrilled to announce that with this transaction, we have exceeded our 2024 goal of $100 million in new originations. This is our second transaction with Story Can

WEST PALM BEACH, Fla., Sept. 13, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("AFC") today announced its dividend for the quarter ending September 30, 2024. The Board of Directors of AFC declared a quarterly dividend of $0.33 for the quarter ending September 30, 2024 per outstanding share of common stock, payable on October 15, 2024 to the common stockholders of record on September 30, 2024. About AFC Gamma, Inc. AFC Gamma, Inc. (NASDAQ:AFCG) is a leading commercial mortgage REIT that provides institutional loans to state law compliant cannabis operators in the U.S. Through the management team's deep network and significant credit and cannabis expertise, AFC originates,

Closed $11 million Senior Secured Credit Facility to Fund Expansion of New Borrower in GeorgiaCommitted $7.3 million in Supporting Continued Growth of Two Existing Borrowers WEST PALM BEACH, Fla., Aug. 19, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("Advanced Flower Capital" or "AFC") today announced it has closed a new senior secured credit facility for Private Company Q and expanded its existing senior secured credit facilities for BeLeaf Medical, LLC ("BeLeaf") and Sunburn Cannabis ("Sunburn") . These transactions underscore Advanced Flower Capital's commitment to supporting the growth of its borrowers by providing timely, flexible and tailored financing solutions. Pri

Second quarter 2024 GAAP net income of $16.4 million or $0.80 per basic weighted average common share and  Distributable Earnings(1) of $11.4 million or $0.56 per basic weighted average common share Paid dividend of $0.48 per common share for second quarter 2024 WEST PALM BEACH, Fla., Aug. 07, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("Advanced Flower Capital", "AFC" or the "Company") today announced its results for the second quarter ended June 30, 2024. AFC reported generally accepted accounting principles ("GAAP") net income of $16.4 million or $0.80 per basic weighted average common share and Distributable Earnings of $11.4 million or $0.56 per basic weighted average

WEST PALM BEACH, Fla., July 15, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("Advanced Flower Capital" or "AFC") today announced that it plans to report earnings for the quarter ended June 30, 2024 on Wednesday, August 7, 2024. Advanced Flower Capital will host a conference call at 10:00 am Eastern Time on Wednesday, August 7, 2024 to discuss its quarterly financial results. All interested parties are welcome to participate. The call will be available through a live audio webcast at the Investor Relations section of AFC's website at http://advancedflowercapital.com/. To participate via telephone, please register in advance at this link. Upon registration, all telephone particip

Record Date for Distribution of Sunrise Realty Trust to be July 8, 2024Distribution Date to be July 9, 2024 WEST PALM BEACH, Fla., July 08, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("AFC Gamma") today reconfirms that the spin-off of its commercial real estate portfolio into an independent, publicly-traded REIT, Sunrise Realty Trust, Inc. ("SUNS"), will be completed on July 9, 2024. Shareholders of AFC Gamma common stock as of the close of business on July 8, 2024 (the "Record Date") will receive one share of new SUNS common stock for every three shares of AFC Gamma common stock held on the Record Date. The distribution is expected to occur before trading begins on July 9, 2

Record Date for Distribution of Sunrise Realty Trust to be July 8, 2024Distribution Date Expected to be July 9, 2024Board of Directors Declares $0.15 per Share Spin-Off Special Dividend WEST PALM BEACH, Fla., June 27, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("AFC Gamma") today announced that the previously announced spin-off of its commercial real estate portfolio is expected to be completed on July 9, 2024. The commercial real estate portfolio will spin-off into a new independent, publicly-traded REIT, Sunrise Realty Trust, Inc. ("SUNS"). Holders of AFC Gamma common stock as of the close of business on July 8, 2024 (the "Record Date") will be entitled to receive one share

WEST PALM BEACH, Fla., June 13, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("AFC Gamma") today announced its dividend for the quarter ending June 30, 2024. The Board of Directors of AFC Gamma declared a quarterly dividend of $0.48 for the quarter ending June 30, 2024 per outstanding share of common stock, payable on July 15, 2024 to the common stockholders of record on June 24, 2024. The June quarterly dividend is in line with the March quarterly dividend. About AFC Gamma, Inc. AFC Gamma, Inc. (NASDAQ:AFCG) is a publicly-traded, institutional lender that originates, structures and underwrites loans secured by commercial real estate and other types of financing solution

Third quarter 2024 GAAP net income of $1.4 million or $0.06 per basic weighted average common share and Distributable Earnings(1)  of $7.2 million or $0.35 per basic weighted average common share Paid first post-spin dividend of $0.33 per common share for third quarter 2024 WEST PALM BEACH, Fla., Nov. 13, 2024 (GLOBE NEWSWIRE) -- Advanced Flower Capital Inc. (f/k/a AFC Gamma, Inc.) (NASDAQ:AFCG) ("Advanced Flower Capital", "AFC" or the "Company") today announced its results for the quarter ended September 30, 2024. AFC reported generally accepted accounting principles ("GAAP") net income of $1.4 million or $0.06 per basic weighted average common share and Distributable

WEST PALM BEACH, Fla., Oct. 14, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("Advanced Flower Capital" or "AFC") today announced that it plans to report earnings for the quarter ended September 30, 2024 on Wednesday, November 13, 2024. Advanced Flower Capital will host a conference call at 10:00 am Eastern Time on Wednesday, November 13, 2024 to discuss its quarterly financial results. All interested parties are welcome to participate. The call will be available through a live audio webcast at the Investor Relations section of AFC's website at http://advancedflowercapital.com/. To participate via telephone, please register in advance at this link. Upon registration, all telepho

WEST PALM BEACH, Fla., Sept. 13, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("AFC") today announced its dividend for the quarter ending September 30, 2024. The Board of Directors of AFC declared a quarterly dividend of $0.33 for the quarter ending September 30, 2024 per outstanding share of common stock, payable on October 15, 2024 to the common stockholders of record on September 30, 2024. About AFC Gamma, Inc. AFC Gamma, Inc. (NASDAQ:AFCG) is a leading commercial mortgage REIT that provides institutional loans to state law compliant cannabis operators in the U.S. Through the management team's deep network and significant credit and cannabis expertise, AFC originates,

Second quarter 2024 GAAP net income of $16.4 million or $0.80 per basic weighted average common share and  Distributable Earnings(1) of $11.4 million or $0.56 per basic weighted average common share Paid dividend of $0.48 per common share for second quarter 2024 WEST PALM BEACH, Fla., Aug. 07, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("Advanced Flower Capital", "AFC" or the "Company") today announced its results for the second quarter ended June 30, 2024. AFC reported generally accepted accounting principles ("GAAP") net income of $16.4 million or $0.80 per basic weighted average common share and Distributable Earnings of $11.4 million or $0.56 per basic weighted average

WEST PALM BEACH, Fla., July 15, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("Advanced Flower Capital" or "AFC") today announced that it plans to report earnings for the quarter ended June 30, 2024 on Wednesday, August 7, 2024. Advanced Flower Capital will host a conference call at 10:00 am Eastern Time on Wednesday, August 7, 2024 to discuss its quarterly financial results. All interested parties are welcome to participate. The call will be available through a live audio webcast at the Investor Relations section of AFC's website at http://advancedflowercapital.com/. To participate via telephone, please register in advance at this link. Upon registration, all telephone particip

Record Date for Distribution of Sunrise Realty Trust to be July 8, 2024Distribution Date Expected to be July 9, 2024Board of Directors Declares $0.15 per Share Spin-Off Special Dividend WEST PALM BEACH, Fla., June 27, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("AFC Gamma") today announced that the previously announced spin-off of its commercial real estate portfolio is expected to be completed on July 9, 2024. The commercial real estate portfolio will spin-off into a new independent, publicly-traded REIT, Sunrise Realty Trust, Inc. ("SUNS"). Holders of AFC Gamma common stock as of the close of business on July 8, 2024 (the "Record Date") will be entitled to receive one share

WEST PALM BEACH, Fla., June 13, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("AFC Gamma") today announced its dividend for the quarter ending June 30, 2024. The Board of Directors of AFC Gamma declared a quarterly dividend of $0.48 for the quarter ending June 30, 2024 per outstanding share of common stock, payable on July 15, 2024 to the common stockholders of record on June 24, 2024. The June quarterly dividend is in line with the March quarterly dividend. About AFC Gamma, Inc. AFC Gamma, Inc. (NASDAQ:AFCG) is a publicly-traded, institutional lender that originates, structures and underwrites loans secured by commercial real estate and other types of financing solution

First quarter 2024 GAAP net loss of $(0.1) million or $(0.01) per basic weighted average common share and Distributable Earnings(1) of $10.0 million or $0.49 per basic weighted average common share Paid dividend of $0.48 per common share for first quarter 2024 WEST PALM BEACH, Fla., May 09, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("AFC Gamma" or the "Company") today announced its results for the first quarter ended March 31, 2024. AFC Gamma reported generally accepted accounting principles ("GAAP") net loss of $(0.1) million or $(0.01) per basic weighted average common share and Distributable Earnings of $10.0 million or $0.49 per basic weighted average common share for t

WEST PALM BEACH, Fla., April 10, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("AFC Gamma") today announced that it plans to report earnings for the quarter ended March 31, 2024 on Thursday, May 9, 2024. AFC Gamma will host a conference call at 10:00 am Eastern Time on Thursday, May 9, 2024 to discuss its quarterly financial results. All interested parties are welcome to participate. The call will be available through a live audio webcast at the Investor Relations section of AFC Gamma's website at www.afcgamma.com. To participate via telephone, please register in advance at this link. Upon registration, all telephone participants will receive a confirmation email detailing how t

Fourth quarter 2023 GAAP net loss of $(9.2) million or $(0.45) per basic weighted average common share andDistributable Earnings(1) of $10.0 million or $0.49 per basic weighted average common share Full year 2023 GAAP net income of $21.0 million or $1.02 per basic weighted average common share andDistributable Earnings of $41.4 million or $2.04 per basic weighted average common share Declared dividend of $0.48 per common share for first quarter 2024 WEST PALM BEACH, Fla., March 07, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("AFC Gamma" or the "Company") today announced its results for the fourth quarter and year ended December 31, 2023. AFC Gamma reported generally accepte

Seaport Research Partners initiated coverage of AFC Gamma with a rating of Buy and set a new price target of $13.00

Compass Point upgraded AFC Gamma from Sell to Neutral and set a new price target of $9.00 from $10.00 previously

Compass Point downgraded AFC Gamma from Neutral to Sell and set a new price target of $10.00

JMP Securities downgraded AFC Gamma from Mkt Outperform to Mkt Perform

EF Hutton initiated coverage of AFC Gamma with a rating of Buy and set a new price target of $23.00

Jefferies initiated coverage of AFC Gamma with a rating of Buy and set a new price target of $24.00

Cowen & Co. initiated coverage of AFC Gamma with a rating of Outperform and set a new price target of $27.00

Compass Point initiated coverage of AFC Gamma with a rating of Neutral and set a new price target of $25.00

Lake Street initiated coverage of AFC Gamma with a rating of Buy and set a new price target of $29.00

Seaport Global Securities initiated coverage of AFC Gamma with a rating of Buy and set a new price target of $25.70

In a recent webinar hosted by Pablo Zuanic from Zuanic & Associates, AFC Gamma's top executives discussed the company's strategic direction, focusing on the spin-off of its commercial real estate business, the current state of its cannabis loan book, and its competitive positioning in the industry. Spin-Off Rationale And Structure Dan Neville, CEO of AFC Gamma, Inc. (NASDAQ:AFCG), detailed the strategic decision to spin off the company's commercial real estate business into a separate entity, Sunrise Realty Trust (NASDAQ:SONS). Neville explained, "We identified a void in the industry for traditional institutional lending to the cannabis sector. However, investors wanted pure-play exposure

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) stands out in the cannabis capital providers and mortgage REIT (mREIT) sectors due to its premium valuation, impressive dividend yield, and robust growth track record. Pablo Zuanic, a senior equity analyst, noted in a recent report, "Of the six publicly listed cannabis capital providers, five are NASDAQ listed, being NLCP (OTC:NLCP) the exception. However, some may not currently provide the right comp due to poor liquidity, size, and relative newness." Performance And Valuation Comparison REFI trades at a 3% premium to its book value, reflecting strong investor confidence in its growth prospects. This stands in contrast to other cannabis

Record Date for Distribution of Sunrise Realty Trust to be July 8, 2024Distribution Date Expected to be July 9, 2024Board of Directors Declares $0.15 per Share Spin-Off Special DividendWEST PALM BEACH, Fla., June 27, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) ("AFC Gamma") today announced that the previously announced spin-off of its commercial real estate portfolio is expected to be completed on July 9, 2024. The commercial real estate portfolio will spin-off into a new independent, publicly-traded REIT, Sunrise Realty Trust, Inc. ("SUNS").

JMP Securities analyst Aaron Hecht reiterates AFC Gamma (NASDAQ:AFCG) with a Market Perform.

NewLake Capital Partners (OTCQX:NLCP) has emerged as a compelling player in the cannabis REIT sector, boasting an 8.6% dividend yield - above Innovative Industrial Properties Inc (NYSE:IIPR)'s 7.01% but below AFC Gamma (NASDAQ:AFCG)'s 15.45%. In a recent analysis on Seeking Alpha, Jussi Askola, CFA, examined NLCP’s strengths and prospects. Askola, president of Leonberg Capital, highlighted NLCP's unique financial health and growth trajectory, making it a standout in the current market. Robust Financial Health And Growth Prospects NLCP's portfolio primarily consists of net lease cannabis cultivation facilities, secured with 14-year leases and annual rent escalations nearing 3%. One of the

The chart shows the YTD stock performance of two equally weighted baskets of stocks. The orange line depicts the YTD performance of a basket of the top five MSOs by market cap: Curaleaf (OTC:CURLF), GTI (OTC:GTBIF), Trulieve (OTC:TCNNF), Verano (OTC:VRNOF), and Cresco (OTC:CRLBF). The green line shows the YTD results of a basket of the top five cannabis lenders and sale-leaseback providers: IIPR (NYSE:IIPR), Chicago Atlantic, AFC Gamma (NASDAQ:AFCG), NewLake Capital (OTC:NLCP), and Silver Spike (NASDAQ:SSIC). The blue line shows the MSOS ETF’s YTD performance. Note that the MSOS ETF price has a .97 correlation with the price of a simple equal-weighted basket of the top five MSOs but signi

With increasing state-level legalizations, real estate investment trusts (REITs) such as Innovative Industrial Properties, Inc. (NYSE:IIPR) NewLake Capital Partners, Inc. (OTCQX:NLCP) and Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) are funds that provide capital, navigating the dissonance between state and federal laws. Brad Thomas, real estate analyst and author of "REITs For Dummies," discusses the valuation of these stocks and the role REITs play in the cannabis industry.  The aggregate financial engagement (considering committed capital and equivalent significant activities) between Innovative Industrial Properties and Chicago Atlantic is approximately $4.5 billion.  Indu

Compass Point analyst Merrill Ross downgrades AFC Gamma (NASDAQ:AFCG) from Neutral to Sell and announces $10 price target.

The graph depicts the stock price performance of baskets of stocks in six different cannabis industry subsectors. Each basket consists of the top four or five U.S. companies in each group. The stocks in each basket are equally weighted, and the basket prices are indexed so that August 25, 2023 (the Friday before the HHS announcement) equals 100. Hundreds of articles (our own included) have analyzed the critical benefits of 280e removal, and, as expected, MSO prices have traded over 2x pre-HHS levels since the beginning of the year. We remain surprised that neither the PR Newswire leak of the DEA intentions nor Biden’s announcement has significantly rallied plant-touching stocks furthe

AFC Gamma Inc. (NASDAQ:AFCG), a cannabis-focused commercial real estate finance company, announced its results Thursday for the first quarter ended March 31, 2024.  Comparing year-over-year, AFC Gamma’s net income dropped from $10.0 million in Q1 2023 to a loss of $0.1 million in Q1 2024. Distributable earnings also saw a decrease from $11.6 million to $10.0 million, reflecting a 14% decline. The dividend per share was reduced from $0.56 in Q1 2023 to $0.48 in Q1 2024. Q1 2024 Financial Highlights GAAP Net Loss: AFC Gamma reported a minor net loss of $0.1 million, or $0.01 per basic weighted average common share. Distributable Earnings: The company achieved distributable earning

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