Key Points
- CEO Anthony Cappell bought 45,000 REFI shares at $10.40 each, investing $468,000 and increasing his ownership by 10.67% to 466,706 shares.
- Chicago Atlantic Real Estate Finance reported quarterly EPS of $0.43 and revenue of $12.61 million, missing analyst estimates of $0.48 EPS and $14.17 million in revenue.
- The company’s quarterly dividend is $0.47 per share, or $1.88 annualized, implying a high 17.8% yield; analysts maintain a consensus “Hold” rating with a $15.33 target price.
Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Get Free Report) Chairman John Mazarakis acquired 25,000 shares of the firm's stock in a transaction on Monday, August 17th. The shares were acquired at an average price of $10.25 per share, with a total value of $256,250.00. Following the completion of the purchase, 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 document filed with the SEC, which is available at this link.
Chicago Atlantic Real Estate Finance Price Performance
NASDAQ:REFI opened at $10.59 on Thursday. The firm has a market capitalization of $271.32 million, a P/E ratio of 7.73 and a beta of 0.24. Chicago Atlantic Real Estate Finance, Inc. has a 1-year low of $9.69 and a 1-year high of $14.57. The company's fifty day moving average price is $10.58 and its 200-day moving average price is $11.37.
Chicago Atlantic Real Estate Finance (NASDAQ:REFI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.05). The company had revenue of $12.61 million for the quarter, compared to analyst estimates of $14.17 million. Chicago Atlantic Real Estate Finance had a return on equity of 11.53% and a net margin of 54.57%. Equities analysts anticipate 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 business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 17.8%. The ex-dividend date of this dividend was Tuesday, June 30th. Chicago Atlantic Real Estate Finance's dividend payout ratio (DPR) is 137.23%.
Analyst Ratings Changes
Several equities research analysts have commented on REFI shares. Atlantic Securities set a $16.00 price objective on Chicago Atlantic Real Estate Finance in a research report on Wednesday, August 12th. Weiss Ratings upgraded shares of Chicago Atlantic Real Estate Finance from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Citigroup restated a "market outperform" rating on shares of Chicago Atlantic Real Estate Finance in a research report on Wednesday, August 12th. Citizens Jmp cut their price objective 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 report on Wednesday, August 12th. Finally, Zacks Research downgraded shares of Chicago Atlantic Real Estate Finance from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Chicago Atlantic Real Estate Finance presently has an average rating of "Hold" and a consensus target price of $15.33.
Get Our Latest Stock Analysis on REFI
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Chicago Atlantic Real Estate Finance during the 2nd quarter worth approximately $18,428,000. Fielder Capital Group LLC purchased a new position in Chicago Atlantic Real Estate Finance in the 2nd quarter valued at $10,530,000. Vanguard Group Inc. grew its holdings in shares of 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 buying an additional 19,227 shares in the last quarter. Clayton Partners LLC lifted its stake in shares of Chicago Atlantic Real Estate Finance by 52.9% in the fourth quarter. Clayton Partners LLC now owns 211,000 shares of the company's stock worth $2,587,000 after buying an additional 73,037 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Chicago Atlantic Real Estate Finance by 5.0% in the third quarter. Van ECK Associates Corp now owns 198,812 shares of the company's stock worth $2,543,000 after buying an additional 9,426 shares in the last quarter. 25.48% of the stock is owned by hedge funds and other institutional investors.
Chicago Atlantic Real Estate Finance Company Profile
(
Get Free Report)
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.
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