Chicago Atlantic BDC (NASDAQ:LIEN) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• Chicago Atlantic BDC reported a quarterly earnings per share of $0.34, missing the consensus estimate of $0.36 by $0.02.
• The company's board declared a quarterly dividend of $0.34 per share, equating to an annualized dividend yield of 12.4% with a payout ratio of 680.00%.
• Shares of Chicago Atlantic BDC rose 5.4% to reach $11.00 following the earnings announcement.

Chicago Atlantic BDC (NASDAQ:LIEN - Get Free Report) announced its quarterly earnings data on Thursday, August 14th. The company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02), Zacks reports. The firm had revenue of $13.08 million for the quarter, compared to analysts' expectations of $13.10 million. Chicago Atlantic BDC had a return on equity of 3.25% and a net margin of 21.50%.

Chicago Atlantic BDC Trading Down 1.3%

Shares of NASDAQ:LIEN traded down $0.14 on Thursday, reaching $10.73. 4,665 shares of the company were exchanged, compared to its average volume of 26,381. Chicago Atlantic BDC has a 1-year low of $9.70 and a 1-year high of $13.38. The firm has a market cap of $244.86 million, a price-to-earnings ratio of 31.06 and a beta of 0.27. The company has a 50-day moving average of $10.35 and a 200-day moving average of $10.78.

Chicago Atlantic BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 12.7%. Chicago Atlantic BDC's dividend payout ratio is 367.57%.

Institutional Investors Weigh In On Chicago Atlantic BDC

A number of large investors have recently added to or reduced their stakes in LIEN. Corient Private Wealth LLC acquired a new stake in Chicago Atlantic BDC in the 2nd quarter valued at about $2,784,000. Northeast Financial Consultants Inc acquired a new stake in Chicago Atlantic BDC in the 2nd quarter valued at about $851,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Chicago Atlantic BDC in the 2nd quarter valued at about $619,000. XTX Topco Ltd purchased a new position in Chicago Atlantic BDC in the 2nd quarter valued at about $112,000. Finally, Westwood Holdings Group Inc. purchased a new position in Chicago Atlantic BDC in the 2nd quarter valued at about $111,000. 4.36% of the stock is owned by institutional investors and hedge funds.

Chicago Atlantic BDC Company Profile

Chicago Atlantic BDC Inc is a specialty finance company which has elected to be regulated as a business development company. Its investment objective is to maximize risk-adjusted returns on equity for its stockholders by investing primarily in direct loans to privately held middle-market companies, with a primary focus on cannabis companies.