Key Points
- CEO Peter Sack bought 3,500 REFI shares at an average price of $10.45, investing $36,575 and increasing his direct ownership by 2.92% to 123,356 shares. He also purchased 1,500 shares the previous day.
- REFI shares opened at $10.78, while the company’s latest quarterly results fell short of expectations, with EPS of $0.43 versus a $0.48 consensus and revenue of $12.61 million versus $14.17 million expected.
- The company maintains a quarterly dividend of $0.47, equivalent to a 17.4% annualized yield, but its 137.23% payout ratio exceeds reported earnings. Analysts’ average rating is Hold, with an average price target of $15.33.
Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Get Free Report) CEO Peter Sack acquired 1,500 shares of Chicago Atlantic Real Estate Finance stock in a transaction that occurred on Tuesday, August 18th. The shares were purchased at an average cost of $10.43 per share, for a total transaction of $15,645.00. Following the purchase, the chief executive officer directly owned 119,856 shares in the company, valued at $1,250,098.08. The trade was a 1.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Peter Sack also recently made the following trade(s):
- On Wednesday, August 19th, Peter Sack bought 3,500 shares of Chicago Atlantic Real Estate Finance stock. The stock was acquired at an average cost of $10.45 per share, with a total value of $36,575.00.
Chicago Atlantic Real Estate Finance Stock Performance
Shares of REFI stock opened at $10.78 on Friday. The company's 50 day moving average price is $10.55 and its two-hundred day moving average price is $11.36. Chicago Atlantic Real Estate Finance, Inc. has a 52 week low of $9.69 and a 52 week high of $14.57. The company has a market capitalization of $276.19 million, a P/E ratio of 7.87 and a beta of 0.24.
Chicago Atlantic Real Estate Finance (NASDAQ:REFI - Get Free Report) last issued its quarterly 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). The firm had revenue of $12.61 million during the quarter, compared to the consensus estimate of $14.17 million. Chicago Atlantic Real Estate Finance had a net margin of 54.57% and a return on equity of 11.53%. Analysts forecast 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 17.4%. The ex-dividend date of this dividend was Tuesday, June 30th. Chicago Atlantic Real Estate Finance's dividend payout ratio is presently 137.23%.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. 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 buying an additional 803 shares in the last quarter. Osaic Holdings Inc. increased its position in Chicago Atlantic Real Estate Finance by 1.0% during the fourth quarter. Osaic Holdings Inc. now owns 84,478 shares of the company's stock worth $1,036,000 after acquiring an additional 862 shares during the period. Commonwealth Equity Services LLC increased its position in Chicago Atlantic Real Estate Finance by 1.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 49,895 shares of the company's stock worth $612,000 after acquiring an additional 897 shares during the period. The Manufacturers Life Insurance Company increased its position in Chicago Atlantic Real Estate Finance by 4.6% during the second quarter. The Manufacturers Life Insurance Company now owns 23,275 shares of the company's stock worth $325,000 after acquiring an additional 1,031 shares during the period. Finally, Geode Capital Management LLC raised its stake in Chicago Atlantic Real Estate Finance by 8.5% in the 2nd 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 in the last quarter. Institutional investors own 25.48% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. 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. Citigroup reissued a "market outperform" rating on shares of Chicago Atlantic Real Estate Finance in a 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 report on Tuesday, August 11th. Atlantic Securities set a $16.00 price objective on Chicago Atlantic Real Estate Finance in a report on Wednesday, August 12th. Finally, Citizens Jmp decreased their target price on 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. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $15.33.
Get Our Latest Analysis on Chicago Atlantic Real Estate Finance
About Chicago Atlantic Real Estate Finance
(
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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