Intrepid Capital Management Inc. Sells 140,905 Shares of Chicago Atlantic Real Estate Finance, Inc. $REFI

Intrepid Capital Management Inc. lessened its stake in Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) by 65.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 73,922 shares of the company’s stock after selling 140,905 shares during the period. Intrepid Capital Management Inc.’s holdings in Chicago Atlantic Real Estate Finance were worth $906,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Clayton Partners LLC bought a new position in Chicago Atlantic Real Estate Finance during the third quarter worth about $1,765,000. Vanguard Group Inc. lifted its stake in Chicago Atlantic Real Estate Finance by 2.1% during the third quarter. Vanguard Group Inc. now owns 940,997 shares of the company’s stock worth $12,035,000 after purchasing an additional 19,227 shares during the period. JPMorgan Chase & Co. lifted its stake in Chicago Atlantic Real Estate Finance by 123.3% during the third quarter. JPMorgan Chase & Co. now owns 47,909 shares of the company’s stock worth $613,000 after purchasing an additional 26,458 shares during the period. Envestnet Asset Management Inc. bought a new position in Chicago Atlantic Real Estate Finance during the third quarter worth about $136,000. Finally, Tidal Investments LLC lifted its stake in Chicago Atlantic Real Estate Finance by 6.8% during the second quarter. Tidal Investments LLC now owns 32,737 shares of the company’s stock worth $457,000 after purchasing an additional 2,078 shares during the period. Institutional investors own 25.48% of the company’s stock.

Chicago Atlantic Real Estate Finance Price Performance

Shares of Chicago Atlantic Real Estate Finance stock opened at $11.37 on Friday. The firm has a market cap of $241.16 million, a P/E ratio of 7.90 and a beta of 0.23. The firm has a 50 day simple moving average of $11.55 and a 200 day simple moving average of $12.09. Chicago Atlantic Real Estate Finance, Inc. has a fifty-two week low of $10.74 and a fifty-two week high of $14.62.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $12.92 million during the quarter, compared to analyst estimates of $13.69 million. Chicago Atlantic Real Estate Finance had a net margin of 55.54% and a return on equity of 11.98%. On average, sell-side analysts expect that Chicago Atlantic Real Estate Finance, Inc. will post 1.72 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on REFI. Oppenheimer lowered shares of Chicago Atlantic Real Estate Finance from an “outperform” rating to a “market perform” rating in a report on Monday, March 16th. Weiss Ratings raised shares of Chicago Atlantic Real Estate Finance from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 28th. Finally, Zacks Research lowered shares of Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.00.

Chicago Atlantic Real Estate Finance 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.