Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Chairman Acquires $256,250.00 in Stock

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Chairman John Mazarakis purchased 25,000 shares of Chicago Atlantic Real Estate Finance stock in a transaction dated Monday, August 17th. The shares were purchased at an average cost of $10.25 per share, for a total transaction of $256,250.00. Following the transaction, the chairman owned 478,706 shares in the company, valued at approximately $4,906,736.50. This trade represents a 5.51% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Chicago Atlantic Real Estate Finance Stock Performance

Shares of REFI stock opened at $10.78 on Friday. The firm’s 50 day moving average price is $10.55 and its 200-day moving average price is $11.36. Chicago Atlantic Real Estate Finance, Inc. has a one year low of $9.69 and a one year high of $14.57. The firm 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 (NASDAQ:REFI) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $14.17 million. As a group, research analysts predict that Chicago Atlantic Real Estate Finance, Inc. will post 1.72 EPS for the current fiscal year.

Chicago Atlantic Real Estate Finance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.47 dividend. 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 is 137.23%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Chicago Atlantic Real Estate Finance in the second quarter valued at about $18,428,000. Fielder Capital Group LLC acquired a new position in Chicago Atlantic Real Estate Finance during the 2nd quarter worth approximately $10,530,000. Corient Private Wealth LP acquired a new position in Chicago Atlantic Real Estate Finance during the 2nd quarter worth approximately $1,637,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Chicago Atlantic Real Estate Finance during the 2nd quarter worth approximately $1,220,000. Finally, Clayton Partners LLC lifted its holdings in shares of Chicago Atlantic Real Estate Finance by 52.9% in the 4th quarter. Clayton Partners LLC now owns 211,000 shares of the company’s stock valued at $2,587,000 after buying an additional 73,037 shares during the period. 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.