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Earnings Call Summary | AFC Gamma(AFCG.US) Q4 2023 Earnings Conference

Earnings Call Summary | AFC Gamma(AFCG.US) Q4 2023 Earnings Conference

業績電話會議摘要 | AFC Gamma (AFCG.US) 2023 年第四季度業績發佈會
富途資訊 ·  03/08 06:05  · 電話會議

The following is a summary of the AFC Gamma, Inc. (AFCG) Q4 2023 Earnings Call Transcript:

以下是亞足聯伽瑪公司(AFCG)2023年第四季度業績電話會議記錄摘要:

Financial Performance:

財務業績:

  • AFC Gamma reported distributable earnings of $0.49 per basic weighted average share of common stock for Q4 2023.

  • The company has declared a fourth consecutive quarterly dividend of $0.48.

  • AFC reported Q4 net interest income at $16 million but realized a net loss of $9.2 million largely due to unrealized losses and increased provisions for credit losses.

  • Their annual net interest income was $64.2 million, with distributable earnings amounting to $41.4 million and a GAAP net income of $21 million.

  • The company finished year with total assets of $466.6 million and cash and cash equivalents of $121.6 million.

  • Company's shareholder equity is $320.1 million and book value per share is $15.64.

  • Provisions for credit losses increased to 8.7% of loans at carrying value, from 4.7% in the previous quarter.

  • AFC Gamma報告稱,2023年第四季度普通股每股基本加權平均股的可分配收益爲0.49美元。

  • 該公司已宣佈連續第四個季度派發0.48美元的股息。

  • 亞足聯報告第四季度淨利息收入爲1,600萬美元,但淨虧損920萬美元,這主要是由於未實現的虧損和信貸損失準備金的增加。

  • 他們的年度淨利息收入爲6,420萬美元,可分配收益爲4,140萬美元,GAAP淨收入爲2,100萬美元。

  • 該公司的總資產爲4.666億美元,現金和現金等價物爲1.216億美元。

  • 公司的股東權益爲3.201億美元,每股賬面價值爲15.64美元。

  • 按賬面價值計算,信貸損失準備金從上一季度的4.7%增加到貸款的8.7%。

Business Progress:

業務進展:

  • AFC Gamma plans to spin-off its commercial real estate portfolio into an independent publicly-traded REIT, Sunrise Realty Trust, by mid-2024.

  • The company is focusing on lending to the cannabis industry, specifically in expanding regions like Ohio, Pennsylvania, and Georgia.

  • Borrowers Private Company A and L are liquidating assets and selling operations respectively, easing their financial burden.

  • AFC's active pipeline of deals in the cannabis sector is at $279 million.

  • Following due diligence visits to various operations, the CEO aims to address portfolio issues, diversify AFC's portfolio and originate over $100 million of new deals.

  • Subsequent to the year-end, AFC funded $48.9 million across two commercial real estate mezzanine loans, with an active pipeline of $701 million.

  • As of March 1, 2024, portfolio constituted $416.3 million of principal outstanding across 14 loans with a weighted average portfolio yield of approximately 21%.

  • The line of credit, amounting to $60 million, was fully repaid early 2024, with majority of cash now earning interest at approximately 4.5% to 5.3%.

  • AFC Gamma計劃在2024年中期之前將其商業房地產投資組合分拆爲獨立的上市房地產投資信託基金——Sunrise Realty Trust。

  • 該公司專注於向大麻行業提供貸款,特別是在俄亥俄州、賓夕法尼亞州和喬治亞州等擴張地區。

  • 借款人私人公司A和L分別清算資產和出售業務,減輕了他們的財務負擔。

  • 亞足聯在大麻領域的活躍交易額爲2.79億美元。

  • 在對各種業務進行盡職調查後,首席執行官的目標是解決投資組合問題,分散亞足聯的投資組合,併發起超過1億美元的新交易。

  • 年底之後,亞足聯通過兩筆商業房地產夾層貸款融資了4,890萬美元,活躍資金爲7.01億美元。

  • 截至2024年3月1日,投資組合構成14筆貸款的未償本金4.163億美元,加權平均投資組合收益率約爲21%。

  • 總額爲6000萬美元的信貸額度已於2024年初全額償還,現在大部分現金的利息約爲4.5%至5.3%。

More details: AFC Gamma IR

更多詳情: 亞足聯伽瑪紅外

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

提示:欲了解更多詳情,請訪問投資者關係網站。本文僅供投資者參考,不構成任何投資建議。

譯文內容由第三人軟體翻譯。


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