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Post by johnsmith on May 19, 2023 18:32:31 GMT
Very nice, X. .... but exactly WHICH stock was Mr. Tannenbaum buying?
AFCG
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Post by anitya on May 19, 2023 19:17:06 GMT
Very nice, X. .... but exactly WHICH stock was Mr. Tannenbaum buying? , AFCG - The company originates, structures, underwrites and manages senior secured loans and other types of loans for established cannabis industry operators in states that have legalized medicinal and/or adult-use cannabis. He is the CEO and owns about 15% of the company. Co pays about 20% dividend. I suspect it is a mREIT. |
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Post by richardsok on May 19, 2023 19:38:49 GMT
Very nice, X. .... but exactly WHICH stock was Mr. Tannenbaum buying? , AFCG - The company originates, structures, underwrites and manages senior secured loans and other types of loans for established cannabis industry operators in states that have legalized medicinal and/or adult-use cannabis. He is the CEO and owns about 15% of the company. Co pays about 20% dividend. I suspect it is a mREIT. Thanks. |
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Post by Capital on May 19, 2023 20:38:40 GMT
AFCG is in fact an mREIT.
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Post by anitya on May 20, 2023 9:15:50 GMT
Capital , richardsok , Please check all info below before relying on any part of it. AFCG 10Q for Q1 investors.afcgamma.com/static-files/ba7f7410-13e0-43b7-bbfd-2417cd21289410K investors.afcgamma.com/static-files/b251177b-d9fa-43a0-b0a3-fdf651825a19You can read about the management fees and other related party transactions. For Q1, the company made about $10M after management and related fees of about $5M. The three main people of the company (incl the President (CEO's spouse)) receive the management fees (through a management company they own). The company's entire loan book consists of 12 loans, 4 of which make up 72% of the loan book - talk about concentration. The company's profits are regularly distributed as dividends, a feature of it being an mREIT, which means the company can only grow through additional stock and / or debt issuances. As a BDC / mREIT, the company issued (and has authority to issue) additional shares without shareholder consent. Because of these issuances, the CEO's ownership of the company is half of what it was immediately after the IPO. The CEO's stock purchases after the company went public (March 2021) were in 2023 and most of those purchases were after May 10, 2023. Open market purchases are less than 10% of his entire holding. The other 90% of his holding are pre-IPO shares (founder). He has a vested option to buy some 1M+ shares at the IPO price ($19) but he has not yet exercised it. If you are interested in going up the capital structure, the company's publicly traded senior debt is trading at a discount. The company has not yet issued any publicly traded preferred stock. The CEO wholly owns a separate active BDC.
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Post by xray on May 22, 2023 15:50:19 GMT
anitya, Thanks for the input. With that said.... I only post what is happening in the insider world. We all have to evaluate (analyze) what we think about any insider who is buying currently vs market timing and MktPrc variations.... Currently, using my current computer data and AI, AFCG is not a current buy. Why the insider is currently buying AFCG remains a unknown unless the 10.00-10.35 buy is expected to be the lowest MktPrc expected in the short term. Timing is everything.... I "only" use insider buying activity to start a "current" analysis as to "why now".... Live Long and Prosper....
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Post by xray on May 22, 2023 16:05:45 GMT
uncleharley, anitya, richardsok, alvinthechipmunk, bb2, anitya, TipRanks Insiders Load Up on These 2 Dividend Stocks With Impressive Yields of 9% or More 11 TipRanks Wed, May 17, 2023, 7:07 PM EDT AFCG +2.56% “Legendary investor Peter Lynch has a straightforward perspective on corporate insiders and their actions in the stock market. He put it simply: ‘Insiders might sell their shares for any number of reasons, but they buy them for only one reason—they think the price will rise.’ Indeed, one of the best stock signals comes from corporate insiders, the company officers who hold positions of high responsibility – to their Boards, and to their peers, and to their shareholders and customers – for bringing in the maximum returns. Their main focus is on keeping the company healthy, and their positions give them access to knowledge that the general public just hasn’t got. And that knowledge will inform their trading decisions when they trade their company’s stock. With this in mind, we turned to TipRanks’ Insiders’ Hot Stocks tool to identify two stocks that are flashing signs of strong insider buying. What makes these stocks particularly appealing to investors is their generous dividend yields, exceeding 9%. So, without further ado, let’s dive in. AFC Gamma (AFCG) Shifting our focus from the energy sector, let’s explore AFC Gamma, one of the many companies that have emerged to capitalize on the relaxation of regulations on marijuana and cannabis products, as well as the growing adoption of legal cannabis at the state level. AFC Gamma operates as a real estate investment trust, providing real estate loans to businesses in the cannabis industry. In addition to real estate financial services, AFC Gamma offers loan underwriting and various financing solutions, targeting both direct lending and bridge loans ranging from $5 million to $100 million. Operating within the cannabis industry, AFC Gamma finds it advantageous to establish its base in Florida, one of the leading states in the legal cannabis sector. From this stable location, AFC Gamma is able to provide its financial services to an industry facing challenges from a patchwork legal framework at the state level, complicated further by federal illegality. The company aims to leverage its financial flexibility to generate solid returns for shareholders. The company generates these returns through its dividend, which was paid out in April for 1Q23 at a rate of 56 cents per common share. This payment was fully covered by the distributable earnings per share, which were reported as 57 cents for Q1. With an annualized forward payment of $2.24 per share, the dividend offers a sky-high yield of nearly 21%. Very few companies, regardless of type, can match such a substantial dividend yield. AFC Gamma has maintained its dividend at the current payment level for the past four quarters. AFC Gamma was able to keep up the high dividend yield, and to pay out 98% of its distributable earnings, even though it missed the revenue and earnings expectations in the first quarter of this year. The total revenue showed a top line of $16.83 million, $1.48 million below the Street’s forecast, while the non-GAAP normalized earnings figure of 49 cents per share missed that forecast by 7 cents. Despite missing on earnings, two insiders did not hesitate to buy large blocks of AFCG stock. In the past week, Company President Robyn Tannenbaum made two purchases, one of 125,000 shares and another of 116,372 shares. In total, Tannenbaum bought 241,372 shares of AFCG for almost $2.47 million. In a separate set of insider transactions, AFC Gamma CEO Leo Tannenbaum made four purchases this month, totaling 243,372 shares. The total cost of these purchases was $2.488 million. AFC Gamma shares also caught the eye of TD Cowen analyst Michael Elias, who writes: “While we are encouraged by mgmt. commentary around improving pricing in cannabis and continue to believe non-cannabis CRE offers attractive lending opportunities given the pullback of traditional lenders in the space, we also recognize that the dividend is a key focus point for investors. For AFC Gamma to sustain current dividend levels, the company will need to increase its number of commitments and though we do believe there is enough lending opportunity in the market for the company to do so, we are skeptical that the company will increase its dividend in the NT and is more likely to elect to keep the dividend flat until its dividend is <85% of Distributable Earnings.” Taking all of this into consideration, Elias stays with the bulls. Along with his Outperform (i.e. Buy) call, the analyst gives AFCG stock a $16 price target, which implies 48% upside from current levels. (To watch Elias’ track record, click here) Overall, this cannabis-related REIT gets a Moderate Buy from the analyst consensus, based on 5 analyst reviews that include 3 Buys and 2 Holds. The stock’s $10.79 trading price and $18 average price target together indicate an impressive 67% potential gain for the year ahead. (See AFCG stock forecast) ---------- Live Long and Prosper....
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Post by anitya on May 23, 2023 2:00:23 GMT
xray, I understand you sharing the insider buy information does not necessarily come with a recommendation to buy or sell. BTW, in your last post the quoted text says, "In the past week, Company President Robyn Tannenbaum made two purchases, one of 125,000 shares and another of 116,372 shares. In total, Tannenbaum bought 241,372 shares of AFCG for almost $2.47 million." This information is wrong. She bought 2,000 shares on May 11, 2023 (her only purchase in May), and currently owns 31,690 shares. Note that she and the founder CEO who happens to be her husband own a separate BDC. To me that is a conflict of interest. To me, you are not responsible for the accuracy of information you quote. No worries. I was sharing with richardsok and Capital what information I learned by reading the company financials. Yes, it takes time and effort to put what I learned into writing but I was not doing it to prove you wrong but to help others (incl you) save time and effort.
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Post by richardsok on May 23, 2023 3:41:16 GMT
X
Although I've recently taken a small position in IIPRpA, I'm going very lightly with all things marijuana. Never mind the tons of money early investors have already lost throughout the sector. Going forward, I just find it hard to imagine outsize profits in an industry whose competitors pay no taxes, are immune from labor laws, business codes, FDA inspectors and social security -- and whose product can be replicated with a spoonful of MiracleGro in any cheap little earthern pot on a sunny kitchen window sill.
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Post by xray on May 24, 2023 17:34:40 GMT
uncleharley, anitya, richardsok, alvinthechipmunk, bb2, anitya, Your: I understand you sharing the insider buy information does not necessarily come with a recommendation to buy or sell. BTW, in your last post the quoted text says, "In the past week, Company President Robyn Tannenbaum made two purchases, one of 125,000 shares and another of 116,372 shares. In total, Tannenbaum bought 241,372 shares of AFCG for almost $2.47 million." This information is wrong. She bought 2,000 shares on May 11, 2023 (her only purchase in May), and currently owns 31,690 shares. Note that she and the founder CEO who happens to be her husband own a separate BDC. To me that is a conflict of interest. ---------- Thank you for the information and clarification. That is why " many of us" liked your decision on staying with us (on the website) and not leaving. I am "sure" that some investors will take issue with some of our posts (including mine). It takes a few of us to try to get all of the information possible before investing. Many others probably share my view but have not posted as such.... Bottom Line: We all need to do individual analysis and compare notes (analysis) whenever possible in our (current) difficult market.... Live Long and Prosper....
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Post by xray on May 26, 2023 21:03:25 GMT
johnsmith, anitya, richardsok, Capital, Be aware that the insiders are starting to nibble to buy again. Some examples: AFCG ... 5/15 ... >500,000sh @ 10.45 AVK (CEF) ... 5/16 ... 345sh @ 11.59 CAPL ... 5/24 ... 32,000sh @ 18.38-19.43 (<18.00 is a great buy) RITM ... 5/10 32,000sh @ 7.94 (grant award) GLO (CEF) 5/10 25,000sh @ 4.75-4.81 GLQ (CEF) 5/10 25,000sh @ 5.89-6.25 OPP (CEF) 5/24 34,000sh @ 8.07-8.11 Live Long and Prosper....
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Post by xray on Jun 17, 2023 12:53:48 GMT
johnsmith, anitya, richardsok, Capital, Interesting insider activity this past week in the "General Stock" category (IMHO). Auto repair lead the categories: #1... Gamestop ... 9.9 million shares (@2.61 average) #2... Dollar General ... 1.3 million shares #3... Auto Zone ... 1.1 million shares #4... Auto Nation ... 1.0 million #5... Advanced Auto Parts ... 500,000 shares Live Long and Prosper....
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