Earnings Call Summary | AFC Gamma(AFCG.US) Q4 2023 Earnings Conference
Earnings Call Summary | AFC Gamma(AFCG.US) Q4 2023 Earnings Conference
The following is a summary of the AFC Gamma, Inc. (AFCG) Q4 2023 Earnings Call Transcript:
以下是亚足联伽玛公司（AFCG）2023年第四季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
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报告称，2023年第四季度普通股每股基本加权平均股的可分配收益为0.49美元。
该公司已宣布连续第四个季度派发0.48美元的股息。
亚足联报告第四季度净利息收入为1,600万美元，但净亏损920万美元，这主要是由于未实现的亏损和信贷损失准备金的增加。
他们的年度净利息收入为6,420万美元，可分配收益为4,140万美元，GAAP净收入为2,100万美元。
该公司的总资产为4.666亿美元，现金和现金等价物为1.216亿美元。
公司的股东权益为3.201亿美元，每股账面价值为15.64美元。
按账面价值计算，信贷损失准备金从上一季度的4.7％增加到贷款的8.7％。
Business Progress:
业务进展：
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计划在2024年中期之前将其商业房地产投资组合分拆为独立的上市房地产投资信托基金——Sunrise Realty Trust。
该公司专注于向大麻行业提供贷款，特别是在俄亥俄州、宾夕法尼亚州和乔治亚州等扩张地区。
借款人私人公司A和L分别清算资产和出售业务，减轻了他们的财务负担。
亚足联在大麻领域的活跃交易额为2.79亿美元。
在对各种业务进行尽职调查后，首席执行官的目标是解决投资组合问题，分散亚足联的投资组合，并发起超过1亿美元的新交易。
年底之后，亚足联通过两笔商业房地产夹层贷款融资了4,890万美元，活跃资金为7.01亿美元。
截至2024年3月1日，投资组合构成14笔贷款的未偿本金4.163亿美元，加权平均投资组合收益率约为21％。
总额为6000万美元的信贷额度已于2024年初全额偿还，现在大部分现金的利息约为4.5％至5.3％。
More details: AFC Gamma IR
更多详情： 亚足联伽玛红外
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
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译文内容由第三方软件翻译。