Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Rating Lowered to “Strong Sell” at Zacks Research

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Chicago Atlantic Real Estate Finance in a research report on Wednesday, October 8th. Oppenheimer set a $14.00 price objective on Chicago Atlantic Real Estate Finance in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Chicago Atlantic Real Estate Finance has an average rating of “Hold” and a consensus price target of $18.00.

Chicago Atlantic Real Estate Finance Stock Down 0.2%

Chicago Atlantic Real Estate Finance stock traded down $0.02 during mid-day trading on Monday, reaching $12.92. The company had a trading volume of 4,135 shares, compared to its average volume of 130,889. The firm has a market cap of $272.35 million, a price-to-earnings ratio of 7.65 and a beta of 0.21. The company has a 50 day moving average of $13.09 and a 200-day moving average of $13.78. Chicago Atlantic Real Estate Finance has a 52 week low of $12.00 and a 52 week high of $16.29.

Insider Buying and Selling

In other Chicago Atlantic Real Estate Finance news, Director Jason D. Papastavrou acquired 10,000 shares of Chicago Atlantic Real Estate Finance stock in a transaction on Wednesday, October 15th. The shares were bought at an average price of $12.62 per share, with a total value of $126,200.00. Following the completion of the purchase, the director owned 49,546 shares in the company, valued at $625,270.52. This trade represents a 25.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO David Kite bought 2,500 shares of the firm’s stock in a transaction dated Tuesday, October 14th. The shares were acquired at an average price of $12.31 per share, for a total transaction of $30,775.00. Following the acquisition, the chief operating officer directly owned 57,016 shares of the company’s stock, valued at approximately $701,866.96. The trade was a 4.59% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 51,150 shares of company stock valued at $641,415 in the last ninety days. 8.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in REFI. CWM LLC raised its stake in shares of Chicago Atlantic Real Estate Finance by 79.3% in the third quarter. CWM LLC now owns 2,160 shares of the company’s stock worth $28,000 after acquiring an additional 955 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Chicago Atlantic Real Estate Finance by 269.2% in the first quarter. Larson Financial Group LLC now owns 2,920 shares of the company’s stock valued at $43,000 after purchasing an additional 2,129 shares in the last quarter. Transce3nd LLC bought a new position in Chicago Atlantic Real Estate Finance in the 2nd quarter worth approximately $47,000. Strs Ohio acquired a new position in Chicago Atlantic Real Estate Finance during the 1st quarter worth $47,000. Finally, Russell Investments Group Ltd. boosted its position in Chicago Atlantic Real Estate Finance by 29.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,552 shares of the company’s stock valued at $50,000 after buying an additional 803 shares during the last quarter. Institutional investors and hedge funds own 25.48% of the company’s stock.

Chicago Atlantic Real Estate Finance Company Profile

Chicago Atlantic Real Estate Finance, Inc operates as a commercial real estate finance company in the United States. The company engages in originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its portfolio primarily includes offers senior loans to state-licensed operators in the cannabis industry.