Chicago Atlantic Real Estate Finance (NASDAQ:REFI) CEO Peter Sack Purchases 1,500 Shares of Stock

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) CEO Peter Sack acquired 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was purchased at an average cost of $10.43 per share, with a total value of $15,645.00. Following the purchase, the chief executive officer directly owned 119,856 shares in the company, valued at approximately $1,250,098.08. This trade represents a 1.27% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Peter Sack also recently made the following trade(s):

• On Wednesday, August 19th, Peter Sack acquired 3,500 shares of Chicago Atlantic Real Estate Finance stock. The shares were purchased at an average price of $10.45 per share, for a total transaction of $36,575.00.

Chicago Atlantic Real Estate Finance Stock Up 1.6%

Shares of NASDAQ:REFI opened at $10.78 on Friday. The company’s fifty day moving average is $10.55 and its two-hundred day moving average is $11.36. The company has a market cap of $276.19 million, a P/E ratio of 7.87 and a beta of 0.24. Chicago Atlantic Real Estate Finance, Inc. has a 12-month low of $9.69 and a 12-month high of $14.57.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.05). Chicago Atlantic Real Estate Finance had a net margin of 54.57% and a return on equity of 11.53%. The business had revenue of $12.61 million for the quarter, compared to analysts’ expectations of $14.17 million. Equities research analysts anticipate that Chicago Atlantic Real Estate Finance, Inc. will post 1.72 earnings per share for the current year.

Chicago Atlantic Real Estate Finance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 17.4%. Chicago Atlantic Real Estate Finance’s dividend payout ratio (DPR) is 137.23%.

Hedge Funds Weigh In On Chicago Atlantic Real Estate Finance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Chicago Atlantic Real Estate Finance during the 2nd quarter valued at $18,428,000. Fielder Capital Group LLC acquired a new stake in shares of Chicago Atlantic Real Estate Finance in the second quarter valued at approximately $10,530,000. Corient Private Wealth LP acquired a new position in Chicago Atlantic Real Estate Finance during the 2nd quarter worth $1,637,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Chicago Atlantic Real Estate Finance in the 2nd quarter valued at $1,220,000. Finally, Clayton Partners LLC lifted its stake in shares of Chicago Atlantic Real Estate Finance by 52.9% during the fourth quarter. Clayton Partners LLC now owns 211,000 shares of the company’s stock valued at $2,587,000 after acquiring an additional 73,037 shares during the period. 25.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Atlantic Securities set a $16.00 price objective on Chicago Atlantic Real Estate Finance in a research report on Wednesday, August 12th. Citizens Jmp decreased their price target on shares of Chicago Atlantic Real Estate Finance from $18.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 12th. Citigroup reaffirmed a “market outperform” rating on shares of Chicago Atlantic Real Estate Finance in a research report on Wednesday, August 12th. Zacks Research downgraded Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings raised Chicago Atlantic Real Estate Finance from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Chicago Atlantic Real Estate Finance currently has a consensus rating of “Hold” and an average price target of $15.33.

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.