AFC Gamma, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 08, 2023 at 08:31 am EDT
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AFC Gamma, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net income was USD 12.14 million compared to USD 11.35 million a year ago. Basic earnings per share from continuing operations was USD 0.59 compared to USD 0.57 a year ago. Diluted earnings per share from continuing operations was USD 0.59 compared to USD 0.57 a year ago.
For the six months, net income was USD 22.16 million compared to USD 21.51 million a year ago. Basic earnings per share from continuing operations was USD 1.08 compared to USD 1.1 a year ago. Diluted earnings per share from continuing operations was USD 1.08 compared to USD 1.09 a year ago.
AFC Gamma, Inc. is an institutional lender to the commercial real estate sector. The Company primarily originates, structures, underwrites, invests in and manages senior secured loans and other types of commercial real estate loans and debt securities, with a specialization in loans to cannabis industry operators in states that have legalized medical and/or adult-use cannabis. The Companyâs objective is to provide attractive risk-adjusted returns over time through cash distributions and capital appreciation primarily by providing loans to real estate developers and state-law compliant cannabis companies. The loans it originates are primarily structured as senior loans secured by real estate, equipment, value associated with licenses (where applicable) and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties. The Company targets investing strategically across multiple real estate sectors.
AFC GAMMA, INC. 
