Chart of Day: 18% Yield From This Dividend Stock

You are receiving this email because you are subscribed to Daily Guru Trades. If you no longer wish to receive these emails, please unsubscribe here. Keep an eye on real estate investment trusts (REITs). For one, they're beating the overall market. Two, they have very attractive yields. And three, they'll be even more attractive with interest rate cuts and an improving real estate market. Look at AFC Gamma (SYM: AFCG), which provides financing to the cannabis industry through loans. It's not a landlord, but it does offer financing to help cannabis companies. Better, it could see higher highs, especially with both presidential candidates supportive of cannabis legalization. With a yield of 18.57%, the REIT also just declared a 33-cent dividend, payable on October 15 to shareholders of record as of September 30. Technically, after its recent dip to $9.82, it's just starting to pivot higher again. From here, we wouldn't be shocked to see this high-yielding REIT push aggressively higher. Recent earnings haven't been too shabby either. In its most recent quarter, the company's EPS of 80 cents beat by 27 cents. Revenue of $18.38 million, up 14.19% year over year, beat by $2.12 million. "We are excited to announce that AFC is now a pure-play cannabis lender after the spin-off of our commercial real estate portfolio on July 9, 2024. This transition positions us to well to capitalize on cannabis market opportunities, and we are on track to meet or exceed our $100 million origination goal for this year. This quarter has been marked by strong performance. Our active portfolio management is showing positive momentum, with reduced reserves and increased book value, highlighting the effectiveness of our strategic initiatives," said Daniel Neville, the Company's Chief Executive Officer. Did you miss yesterday's Chart of the Day? Click here to view it now. 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