Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Releases Earnings Results, Misses Estimates By $0.05 EPS

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) issued its earnings results on Tuesday. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.05), FiscalAI reports. Chicago Atlantic Real Estate Finance had a return on equity of 11.98% and a net margin of 55.54%.The business had revenue of $12.61 million during the quarter, compared to the consensus estimate of $14.17 million.

Chicago Atlantic Real Estate Finance Stock Performance

Shares of REFI stock opened at $10.25 on Tuesday. The stock’s 50 day simple moving average is $10.71 and its 200 day simple moving average is $11.47. Chicago Atlantic Real Estate Finance has a twelve month low of $9.69 and a twelve month high of $14.57. The company has a market capitalization of $217.49 million, a price-to-earnings ratio of 7.08 and a beta of 0.24.

Chicago Atlantic Real Estate Finance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 18.3%. The ex-dividend date was Tuesday, June 30th. Chicago Atlantic Real Estate Finance’s dividend payout ratio is 130.56%.

Wall Street Analyst Weigh In

REFI has been the subject of a number of recent analyst reports. Weiss Ratings lowered Chicago Atlantic Real Estate Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 16th. Zacks Research lowered Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $14.00.

Institutional Trading of Chicago Atlantic Real Estate Finance

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC bought a new position in Chicago Atlantic Real Estate Finance in the 1st quarter worth $186,000. Strs Ohio bought a new position in Chicago Atlantic Real Estate Finance in the 1st quarter worth approximately $47,000. Geode Capital Management LLC grew its stake in shares of Chicago Atlantic Real Estate Finance by 8.5% in the second quarter. Geode Capital Management LLC now owns 18,367 shares of the company’s stock worth $257,000 after acquiring an additional 1,446 shares during the last quarter. Rhumbline Advisers raised its stake in Chicago Atlantic Real Estate Finance by 12.7% during the 2nd quarter. Rhumbline Advisers now owns 26,513 shares of the company’s stock valued at $370,000 after purchasing an additional 2,993 shares during the last quarter. Finally, Russell Investments Group Ltd. grew 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 worth $50,000 after purchasing an additional 803 shares during the last quarter. 25.48% of the stock is currently owned by institutional investors and hedge funds.

Chicago Atlantic Real Estate Finance Company Profile

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.