Advanced Flower Capital reelects director, affirms auditor

Advanced Flower Capital Inc. (the "Company"), currently trading at $5.15 and offering a notable 17.46% dividend yield, announced the results of its 2025 Annual Meeting of Shareholders held on Monday. According to InvestingPro analysis, the company appears undervalued despite experiencing a significant 41% decline over the past six months. The shareholders voted on two key proposals: the reelection of a director nominee and the ratification of the company’s independent auditor for the current fiscal year.

In Proposal 1, shareholders reelected the Class II director nominee, Robert Levy, whose term will now extend until the 2028 Annual Meeting or until his successor is duly elected and qualified. The vote count for Levy’s reelection showed 4,985,845 votes for, 31,513 withheld, and 8,459,980 broker non-votes.

Proposal 2 addressed the ratification of CohnReznick LLP as the independent registered public accounting firm for the year ending December 31, 2025. Shareholders approved this proposal with 15,160,714 votes for, 514,645 against, and 50,549 abstentions.

These voting outcomes ensure continuity in the Company’s governance and financial oversight. Advanced Flower Capital, which operates under the real estate industry classification and is incorporated in Maryland, has its executive offices located in West Palm Beach, Florida. With a market capitalization of $116.37 million and trading at a P/E ratio of 5.81, the company maintains strong financial metrics. InvestingPro subscribers have access to over 10 additional key financial metrics and governance indicators that provide deeper insights into the company’s performance.

The results of the voting are a standard procedure for corporate governance, allowing shareholders to have their say in the company’s strategic decisions and oversight. The confirmation of the auditor is a routine aspect of ensuring the company’s financial reporting remains transparent and reliable.

The information provided in this article is based on the company’s 8-K filing with the Securities and Exchange Commission.

In other recent news, Advanced Flower Capital Inc. reported its Q1 2025 earnings, revealing a notable miss on earnings per share (EPS) forecasts. The company announced an EPS of $0.18, falling short of the expected $0.2866, a discrepancy of approximately 37.2%. Net interest income for the quarter was reported at $4.5 million, with GAAP net income totaling $4.1 million. The company renewed a senior secured credit facility with a major FDIC-insured bank, which could potentially aid in future financial stability. Despite the earnings miss, Advanced Flower Capital remains focused on a selective lending strategy, emphasizing high-yield loans to proven operators. Analysts have not provided a recent upgrade or downgrade, but the company’s cautious approach reflects the challenging conditions in the cannabis finance sector. Additionally, ongoing legal proceedings with Justice Grown may pose financial risks, as the company navigates market constraints.

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