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

Key Points

• Chicago Atlantic Real Estate Finance, Inc. has declared a quarterly dividend of $0.47 per share, which will be paid on October 15th to investors of record on September 30th.
• The company has a dividend payout ratio of 90.0%, with expected earnings of $1.94 per share next year, indicating that the dividend could be under pressure if earnings decrease.
• Shares of REFI opened at $13.23, with a market cap of $278.89 million and a PE ratio of 7.23.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Get Free Report) announced a quarterly dividend on Friday, September 12th, RTT News reports. Stockholders of record on Tuesday, September 30th will be paid a dividend of 0.47 per share on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 14.0%. The ex-dividend date of this dividend is Tuesday, September 30th.

Chicago Atlantic Real Estate Finance has a payout ratio of 90.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Equities analysts expect Chicago Atlantic Real Estate Finance to earn $1.94 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 96.9%.

Chicago Atlantic Real Estate Finance Trading Down 2.3%

Shares of NASDAQ REFI traded down $0.31 during midday trading on Friday, reaching $13.40. The company's stock had a trading volume of 80,940 shares, compared to its average volume of 129,567. The company has a 50 day moving average price of $13.75 and a 200 day moving average price of $14.29. Chicago Atlantic Real Estate Finance has a one year low of $12.76 and a one year high of $16.29. The company has a market cap of $282.47 million, a price-to-earnings ratio of 7.30 and a beta of 0.24.

Analyst Ratings Changes

Separately, Zacks Research downgraded shares of Chicago Atlantic Real Estate Finance from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 21st. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $20.00.

About Chicago Atlantic Real Estate Finance

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.