Chicago Atlantic Real Estate Finance (NASDAQ:REFI) CEO Buys $468,000.00 in Stock

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) CEO Anthony Cappell purchased 45,000 shares of the company’s stock in a transaction on Monday, August 17th. The stock was bought at an average price of $10.40 per share, for a total transaction of $468,000.00. Following the completion of the purchase, the chief executive officer directly owned 466,706 shares of the company’s stock, valued at $4,853,742.40. The trade was a 10.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Chicago Atlantic Real Estate Finance Trading Up 1.6%

REFI stock opened at $10.78 on Friday. The company’s 50 day moving average is $10.55 and its two-hundred day moving average is $11.36. Chicago Atlantic Real Estate Finance, Inc. has a twelve month low of $9.69 and a twelve month high of $14.57. The stock 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 posted its earnings results on Tuesday, August 11th. The company reported $0.43 EPS 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 company had revenue of $12.61 million during the quarter, compared to analysts’ expectations of $14.17 million. On average, equities research analysts predict that Chicago Atlantic Real Estate Finance, Inc. will post 1.72 earnings per share for the current year.

Chicago Atlantic Real Estate Finance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued 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 17.4%. Chicago Atlantic Real Estate Finance’s dividend payout ratio (DPR) is presently 137.23%.

Institutional Trading of Chicago Atlantic Real Estate Finance

Several institutional investors and hedge funds have recently added to or reduced their stakes in REFI. Jane Street Group LLC acquired a new stake in Chicago Atlantic Real Estate Finance during the 1st quarter worth approximately $186,000. Strs Ohio acquired a new position in shares of Chicago Atlantic Real Estate Finance in the first quarter valued at approximately $47,000. Geode Capital Management LLC raised its stake in shares of Chicago Atlantic Real Estate Finance by 8.5% during the second quarter. Geode Capital Management LLC now owns 18,367 shares of the company’s stock worth $257,000 after purchasing an additional 1,446 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Chicago Atlantic Real Estate Finance by 12.7% during the second quarter. Rhumbline Advisers now owns 26,513 shares of the company’s stock worth $370,000 after purchasing an additional 2,993 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Chicago Atlantic Real Estate Finance by 29.2% during the second 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 period. 25.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

REFI has been the subject of a number of research analyst reports. Zacks Research cut 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 price objective on Chicago Atlantic Real Estate Finance in a report on Wednesday, August 12th. Citizens Jmp lowered their target price 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 report on Wednesday, August 12th. Finally, Weiss Ratings upgraded shares of Chicago Atlantic Real Estate Finance from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Two investment 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 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.