Brandon Konigsberg Acquires 7,000 Shares of Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Stock

Key Points

• Brandon Konigsberg, a director at Chicago Atlantic Real Estate Finance, acquired 7,000 shares of the company at an average price of $12.33 per share, increasing his total ownership by 34.07%.
• The company recently announced a quarterly dividend of $0.47 per share, with a significant annualized yield of 15.1%, though its dividend payout ratio is currently over 100%.
• Chicago Atlantic Real Estate Finance's stock has been rated a "Moderate Buy" by analysts, with a consensus target price of $20.00.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Get Free Report) Director Brandon Konigsberg bought 7,000 shares of the company's stock in a transaction on Tuesday, October 14th. The stock was purchased at an average cost of $12.33 per share, for a total transaction of $86,310.00. Following the completion of the transaction, the director owned 27,546 shares in the company, valued at approximately $339,642.18. The trade was a 34.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Chicago Atlantic Real Estate Finance Trading Down 2.0%

REFI stock traded down $0.26 during mid-day trading on Thursday, hitting $12.45. The stock had a trading volume of 148,038 shares, compared to its average volume of 133,897. Chicago Atlantic Real Estate Finance, Inc. has a 1-year low of $12.00 and a 1-year high of $16.29. The company has a fifty day moving average of $13.52 and a 200 day moving average of $13.92. The stock has a market capitalization of $262.45 million, a price-to-earnings ratio of 6.80 and a beta of 0.21.

Chicago Atlantic Real Estate Finance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 15.1%. Chicago Atlantic Real Estate Finance's dividend payout ratio is currently 102.73%.

Institutional Trading of Chicago Atlantic Real Estate Finance

Several hedge funds have recently added to or reduced their stakes in REFI. Fielder Capital Group LLC boosted its stake in Chicago Atlantic Real Estate Finance by 11.5% during the 1st quarter. Fielder Capital Group LLC now owns 751,620 shares of the company's stock valued at $11,049,000 after purchasing an additional 77,334 shares during the period. Deutsche Bank AG boosted its stake in Chicago Atlantic Real Estate Finance by 689.4% during the 1st quarter. Deutsche Bank AG now owns 75,439 shares of the company's stock valued at $1,109,000 after purchasing an additional 65,882 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Chicago Atlantic Real Estate Finance by 88.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,198 shares of the company's stock valued at $1,679,000 after purchasing an additional 53,498 shares during the period. Nuveen LLC bought a new stake in shares of Chicago Atlantic Real Estate Finance in the 1st quarter worth approximately $531,000. Finally, Doliver Advisors LP lifted its position in shares of Chicago Atlantic Real Estate Finance by 74.5% in the 2nd quarter. Doliver Advisors LP now owns 80,588 shares of the company's stock worth $1,125,000 after acquiring an additional 34,400 shares during the period. Institutional investors own 25.48% of the company's stock.

Wall Street Analyst Weigh In

REFI has been the topic of a number of analyst reports. Zacks Research raised Chicago Atlantic Real Estate Finance from a "strong sell" rating to a "hold" rating in a report on Friday, October 10th. Weiss Ratings reissued a "hold (c-)" rating on shares of Chicago Atlantic Real Estate Finance in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $20.00.

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. The company engages in originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its portfolio primarily includes offers senior loans to state-licensed operators in the cannabis industry.

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