Advanced Flower Capital Inc. (AFCG)

In August 2025, AFCG announced its Q2 earnings, missing estimates, followed by insider buying. In September 2025, a dividend for Q3 2025 was announced. November 2025 saw the release of Q3 results, reporting a GAAP net loss but positive distributable earnings, along with analyst downgrades. December 2025 involved multiple insider buying transactions by the Executive Chairman. January 2026 marked the conversion from a REIT to a BDC. In February 2026, a subsidiary closed a $60 million senior secured credit facility. The stock price declined significantly, falling 75.12% over the 52-week period ending February 4, 2026, reaching new lows, and no dividend was anticipated for Q4 2025 as the company reevaluated its dividend policy.

Direct information regarding demand seasonality for AFCG's specific lending products and services is not explicitly available. While seasonality exists for consumer products, it does not directly apply to AFCG as a financial services provider. The demand for loans from cannabis operators may be indirectly influenced by seasonality within the cannabis industry, but the search results do not provide a direct correlation or analysis of this potential impact on AFCG's lending activities.

Advanced Flower Capital, Inc. (AFCG) specializes in offering credit solutions to lower middle market companies, focusing on the state-legal cannabis industry and addressing the capital gap due to federal banking restrictions. Its products include senior secured loans and debt financing solutions, ranging from $10 million to over $100 million, secured by real estate, equipment, licenses, and cash flows. Initially a commercial mortgage REIT, AFCG strategically converted to a BDC in January 2026, expanding its investment flexibility to include operating businesses, ancillary cannabis sector companies, and select companies outside the cannabis industry.

Advanced Flower Capital, Inc. is headquartered in West Palm Beach, Florida, with operations focused across the United States in states where medical and/or adult-use cannabis is legal.

Advanced Flower Capital's brand reputation has been influenced by analyst downgrades, negative net income, and concerns about dividend sustainability, along with a significant drop in stock price. However, the company's strategic conversion to a BDC aims to expand its investment flexibility, and management has proactively restructured agreements and exited large credit facilities. The company also benefits from specialized expertise in cannabis and credit within a niche market, and rebranded from AFC Gamma, Inc. to Advanced Flower Capital Inc. in October 2024.

Advanced Flower Capital, Inc. has a diverse ownership structure. Institutional owners comprise 145 entities holding 23.01% of the stock, with major shareholders including BlackRock, Inc., and Vanguard Group Inc. Individual insiders hold 74.81% of the stock, including Robyn Tannenbaum (41.75%), Leonard M. Tannenbaum (27.71%), and Daniel Neville (1.41%), with recent insider buying activity.