Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Chicago Atlantic Real Estate Finance (NASDAQ:REFI) from a strong sell rating to a hold rating in a report published on Monday morning,Zacks.com reports.

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

Chicago Atlantic Real Estate Finance Trading Up 0.0%

NASDAQ:REFI opened at $12.25 on Monday. The firm has a fifty day simple moving average of $12.74 and a 200 day simple moving average of $13.27. Chicago Atlantic Real Estate Finance has a 1-year low of $11.85 and a 1-year high of $16.27. The stock has a market capitalization of $258.12 million, a PE ratio of 7.25 and a beta of 0.22.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last issued its earnings results on Tuesday, November 4th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. The company had revenue of $13.69 million during the quarter, compared to the consensus estimate of $13.97 million. Chicago Atlantic Real Estate Finance had a return on equity of 11.94% and a net margin of 64.78%. On average, equities analysts predict that Chicago Atlantic Real Estate Finance will post 1.9 earnings per share for the current fiscal year.

Chicago Atlantic Real Estate Finance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 15.4%. The ex-dividend date is Wednesday, December 31st. Chicago Atlantic Real Estate Finance’s dividend payout ratio (DPR) is 111.24%.

Insider Buying and Selling

In other news, COO David Kite acquired 2,500 shares of the firm’s stock in a transaction on Tuesday, October 14th. The shares were purchased at an average price of $12.31 per share, for a total transaction of $30,775.00. Following the completion of the transaction, the chief operating officer owned 57,016 shares of the company’s stock, valued at $701,866.96. The trade was a 4.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Sack acquired 8,150 shares of the stock in a transaction that occurred on Tuesday, October 14th. The stock was acquired at an average cost of $12.43 per share, for a total transaction of $101,304.50. Following the completion of the transaction, the chief executive officer directly owned 81,257 shares in the company, valued at $1,010,024.51. This represents a 11.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 43,650 shares of company stock worth $548,190 over the last ninety days. Corporate insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

Several large investors have recently bought and sold shares of the business. Doliver Advisors LP grew its stake in shares of Chicago Atlantic Real Estate Finance by 74.5% during the 2nd quarter. Doliver Advisors LP now owns 80,588 shares of the company’s stock valued at $1,125,000 after acquiring an additional 34,400 shares during the period. Fielder Capital Group LLC boosted its position in shares of Chicago Atlantic Real Estate Finance by 2.6% in the second quarter. Fielder Capital Group LLC now owns 771,503 shares of the company’s stock worth $10,770,000 after purchasing an additional 19,883 shares during the period. Ascent Group LLC purchased a new stake in shares of Chicago Atlantic Real Estate Finance in the first quarter worth $185,000. Sage Mountain Advisors LLC raised its position in shares of Chicago Atlantic Real Estate Finance by 5.4% during the 2nd quarter. Sage Mountain Advisors LLC now owns 163,808 shares of the company’s stock valued at $2,287,000 after purchasing an additional 8,400 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Chicago Atlantic Real Estate Finance by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 940,997 shares of the company’s stock valued at $12,035,000 after purchasing an additional 19,227 shares during the period. 25.48% of the stock is currently owned by institutional investors.

About Chicago Atlantic Real Estate Finance

Chicago Atlantic Real Estate Finance, Inc (NASDAQ:REFI) is a publicly listed real estate finance company that specializes in originating and acquiring commercial real estate debt. Pursuant to its election to be treated as a real estate investment trust (REIT), REFI’s investment strategy focuses on floating-rate senior mortgage loans secured by income-producing properties across the United States. The company targets stabilized, performing assets in sectors such as multifamily, office, retail and industrial, aiming to generate attractive risk-adjusted returns through current income.

Established in 2015 and headquartered in Chicago, Illinois, REFI completed its initial public offering in 2019.