Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Chairman John Mazarakis Acquires 7,530 Shares

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Chairman John Mazarakis bought 7,530 shares of Chicago Atlantic Real Estate Finance stock in a transaction that occurred on Thursday, August 27th. The stock was bought at an average cost of $10.67 per share, for a total transaction of $80,345.10. Following the purchase, the chairman owned 526,562 shares in the company, valued at $5,618,416.54. This represents a 1.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

John Mazarakis also recently made the following trade(s):

• On Wednesday, August 26th, John Mazarakis purchased 40,181 shares of Chicago Atlantic Real Estate Finance stock. The shares were bought at an average cost of $10.67 per share, with a total value of $428,731.27.
• On Friday, August 21st, John Mazarakis purchased 145 shares of Chicago Atlantic Real Estate Finance stock. The stock was bought at an average cost of $10.67 per share, with a total value of $1,547.15.
• On Monday, August 17th, John Mazarakis purchased 25,000 shares of Chicago Atlantic Real Estate Finance stock. The stock was bought at an average cost of $10.25 per share, with a total value of $256,250.00.

Chicago Atlantic Real Estate Finance Stock Up 0.1%

Shares of NASDAQ:REFI opened at $10.68 on Friday. The company has a market capitalization of $273.62 million, a P/E ratio of 7.80 and a beta of 0.24. Chicago Atlantic Real Estate Finance, Inc. has a 52-week low of $9.69 and a 52-week high of $14.57. The stock’s fifty day simple moving average is $10.50 and its 200-day simple moving average is $11.30.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.05). The company had revenue of $12.61 million for the quarter, compared to analysts’ expectations of $14.17 million. Chicago Atlantic Real Estate Finance had a return on equity of 11.53% and a net margin of 54.57%. On average, sell-side 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors 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 annualized dividend and a dividend yield of 17.6%. Chicago Atlantic Real Estate Finance’s dividend payout ratio is presently 137.23%.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

A number of institutional investors have recently added to or reduced their stakes in REFI. California State Teachers Retirement System grew its holdings in shares of Chicago Atlantic Real Estate Finance by 178.4% during the 2nd quarter. California State Teachers Retirement System now owns 2,734 shares of the company’s stock worth $29,000 after purchasing an additional 1,752 shares during the period. Strs Ohio purchased a new position in Chicago Atlantic Real Estate Finance in the first quarter valued at approximately $47,000. Russell Investments Group Ltd. raised its holdings in Chicago Atlantic Real Estate Finance by 29.2% in the second 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 period. Garton & Associates Financial Advisors LLC acquired a new position in Chicago Atlantic Real Estate Finance during the fourth quarter valued at approximately $53,000. Finally, PNC Financial Services Group Inc. grew its stake in Chicago Atlantic Real Estate Finance by 290.3% during the first quarter. PNC Financial Services Group Inc. now owns 6,183 shares of the company’s stock worth $70,000 after buying an additional 4,599 shares during the period. Hedge funds and other institutional investors own 25.48% of the company’s stock.

Wall Street Analysts Forecast Growth

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