Cannabis REITs navigate tenant stress, even as rate cut lifts real estate stocks
Cannabis real estate lenders are taking markedly different approaches to troubled credit and market headwinds lately, with some aggressively restructuring loans while others maintain a wait-and-see approach, according to earnings calls over the past week. While broader real estate stocks rallied on the Federal Reserve’s latest rate cut, with the Real Estate Select Sector SPDR […]
AFC’s third-quarter profit plunges 91% as cannabis borrowers struggle
Advanced Flower Capital Inc. (NASDAQ: AFCG), formerly known as AFC Gamma, reported sharply lower third-quarter earnings as profit plunged 91% from the second quarter and 82% year-over-year amid ongoing challenges with problem loans. The Florida-based real estate investment trust posted net income of $1.4 million, down from $16.4 million in the previous quarter and $8 […]