Chicago Atlantic Real Estate Finance (NASDAQ:REFI) CEO Anthony Cappell Purchases 45,000 Shares

Key Points

• CEO Anthony Cappell purchased 45,000 REFI shares at an average price of $10.40, investing $468,000 and increasing his direct stake by 10.67% to 466,706 shares.
• REFI recently reported quarterly EPS of $0.43 and revenue of $12.61 million, both below analyst expectations. The company declared a $0.47 quarterly dividend, equivalent to a 17.8% annualized yield.
• Shares traded around $10.59, well below the average analyst price target of $15.33; analysts’ overall rating is Hold, while institutional investors own 25.48% of the company.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Get Free Report) CEO Anthony Cappell bought 45,000 shares of Chicago Atlantic Real Estate Finance stock in a transaction dated Monday, August 17th. The shares were acquired at an average price of $10.40 per share, with a total value of $468,000.00. Following the completion of the purchase, the chief executive officer directly owned 466,706 shares in the company, valued at $4,853,742.40. This trade represents a 10.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Chicago Atlantic Real Estate Finance Stock Performance

REFI traded up $0.22 during trading hours on Wednesday, reaching $10.59. The company's stock had a trading volume of 139,052 shares, compared to its average volume of 158,505. Chicago Atlantic Real Estate Finance, Inc. has a 52 week low of $9.69 and a 52 week high of $14.57. The company's 50-day moving average is $10.59 and its 200-day moving average is $11.39. The firm has a market cap of $271.32 million, a PE ratio of 7.73 and a beta of 0.24.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.05). The company had revenue of $12.61 million for the quarter, compared to the consensus estimate 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 earnings per share for the current fiscal year.

Chicago Atlantic Real Estate Finance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.47 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.88 dividend on an annualized basis and a yield of 17.8%. Chicago Atlantic Real Estate Finance's dividend payout ratio is 137.23%.

Analysts Set New Price Targets

REFI has been the subject of several research reports. Atlantic Securities set a $16.00 price objective on shares of Chicago Atlantic Real Estate Finance in a research report on Wednesday, August 12th. Citigroup reiterated a "market outperform" rating on shares of Chicago Atlantic Real Estate Finance in a research note on Wednesday, August 12th. Zacks Research cut Chicago Atlantic Real Estate Finance from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Weiss Ratings upgraded Chicago Atlantic Real Estate Finance from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Finally, Citizens Jmp decreased their price objective on Chicago Atlantic Real Estate Finance from $18.00 to $16.00 and set a "market outperform" rating on the stock in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $15.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in REFI. BlackRock Inc. acquired a new stake in shares of Chicago Atlantic Real Estate Finance in the second quarter valued at approximately $18,428,000. Fielder Capital Group LLC bought a new stake in shares of Chicago Atlantic Real Estate Finance in the second quarter valued at approximately $10,530,000. Vanguard Group Inc. grew its position in 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 increased its stake in Chicago Atlantic Real Estate Finance by 52.9% during the 4th quarter. Clayton Partners LLC now owns 211,000 shares of the company's stock worth $2,587,000 after acquiring an additional 73,037 shares during the period. Finally, Van ECK Associates Corp increased its stake in Chicago Atlantic Real Estate Finance by 5.0% during the 3rd quarter. Van ECK Associates Corp now owns 198,812 shares of the company's stock worth $2,543,000 after acquiring an additional 9,426 shares during the period. Institutional investors and hedge funds own 25.48% of the company's stock.

About Chicago Atlantic Real Estate Finance

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source