Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Plans $0.47 Quarterly Dividend

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) declared a quarterly dividend on Monday, September 18th, Zacks reports. Investors of record on Friday, September 29th will be given a dividend of 0.47 per share on Friday, October 13th. This represents a $1.88 dividend on an annualized basis and a yield of 12.13%. The ex-dividend date is Thursday, September 28th.

Chicago Atlantic Real Estate Finance Stock Up 0.4 %

REFI stock opened at $15.50 on Tuesday. The firm’s 50-day simple moving average is $15.08 and its 200 day simple moving average is $14.61. Chicago Atlantic Real Estate Finance has a fifty-two week low of $12.91 and a fifty-two week high of $16.50. The stock has a market cap of $281.64 million, a PE ratio of 7.61 and a beta of 0.07.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.10). The business had revenue of $14.66 million for the quarter, compared to analyst estimates of $15.78 million. Chicago Atlantic Real Estate Finance had a return on equity of 14.02% and a net margin of 61.75%. During the same quarter last year, the firm posted $0.50 EPS. Equities analysts forecast that Chicago Atlantic Real Estate Finance will post 2.21 EPS for the current fiscal year.

Institutional Trading of Chicago Atlantic Real Estate Finance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in shares of Chicago Atlantic Real Estate Finance by 169.0% during the second quarter. BlackRock Inc. now owns 1,085,060 shares of the company’s stock valued at $16,439,000 after purchasing an additional 681,645 shares during the period. Vanguard Group Inc. raised its stake in Chicago Atlantic Real Estate Finance by 93.2% during the third quarter. Vanguard Group Inc. now owns 642,576 shares of the company’s stock worth $9,259,000 after acquiring an additional 309,918 shares in the last quarter. Intrepid Capital Management Inc. bought a new position in shares of Chicago Atlantic Real Estate Finance during the first quarter valued at $2,920,000. State Street Corp boosted its stake in shares of Chicago Atlantic Real Estate Finance by 101.2% in the 2nd quarter. State Street Corp now owns 213,460 shares of the company’s stock valued at $3,333,000 after purchasing an additional 107,350 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Chicago Atlantic Real Estate Finance by 172.5% in the 2nd quarter. Northern Trust Corp now owns 110,915 shares of the company’s stock worth $1,680,000 after purchasing an additional 70,209 shares during the last quarter. Institutional investors and hedge funds own 25.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Piper Sandler assumed coverage on Chicago Atlantic Real Estate Finance in a research note on Friday, September 1st. They set a “neutral” rating and a $16.00 price target for the company. JMP Securities reissued a “market outperform” rating and set a $20.00 target price on shares of Chicago Atlantic Real Estate Finance in a research note on Tuesday, August 15th. Finally, Compass Point lowered Chicago Atlantic Real Estate Finance from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a research report on Tuesday, September 5th.

Chicago Atlantic Real Estate Finance Company Profile

Chicago Atlantic Real Estate Finance, Inc operates as a commercial real estate finance company in the United States. It originates, structures, and invests in first mortgage loans and alternative structured financings secured by commercial real estate properties. The company offers senior loans to state-licensed operators in the cannabis industry.