Chicago Atlantic Real Estate Finance (NASDAQ:REFI) CEO Peter Sack Purchases 8,150 Shares

Key Points

• CEO Peter Sack of Chicago Atlantic Real Estate Finance purchased 8,150 shares at an average price of $12.43 per share, increasing his ownership by 11.15% to a total of 81,257 shares.
• The company declared a quarterly dividend of $0.47, resulting in an annualized yield of 15.1%, although the dividend payout ratio stands at 102.73%.
• Analysts have provided mixed ratings on the stock, with a consensus target price of $20.00 and a classification of "Moderate Buy."

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Get Free Report) CEO Peter Sack purchased 8,150 shares of the stock in a transaction that occurred on Tuesday, October 14th. The shares were purchased at an average price of $12.43 per share, with a total value of $101,304.50. Following the completion of the acquisition, the chief executive officer directly owned 81,257 shares in the company, valued at $1,010,024.51. The trade was a 11.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Chicago Atlantic Real Estate Finance Stock Performance

NASDAQ:REFI traded down $0.26 during midday trading on Thursday, reaching $12.45. 148,038 shares of the stock traded hands, compared to its average volume of 133,897. The company has a fifty day moving average of $13.52 and a 200 day moving average of $13.92. Chicago Atlantic Real Estate Finance, Inc. has a 12 month low of $12.00 and a 12 month high of $16.29. The stock has a market capitalization of $262.45 million, a P/E ratio of 6.80 and a beta of 0.21.

Chicago Atlantic Real Estate Finance Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on REFI. Weiss Ratings reiterated a "hold (c-)" rating on shares of Chicago Atlantic Real Estate Finance in a report on Wednesday, October 8th. Zacks Research upgraded Chicago Atlantic Real Estate Finance from a "strong sell" rating to a "hold" rating in a report on Friday, October 10th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Chicago Atlantic Real Estate Finance has an average rating of "Moderate Buy" and a consensus target price of $20.00.

Institutional Trading of Chicago Atlantic Real Estate Finance

Several institutional investors have recently bought and sold shares of the company. CWM LLC grew its position in Chicago Atlantic Real Estate Finance by 79.3% during the 3rd quarter. CWM LLC now owns 2,160 shares of the company's stock valued at $28,000 after purchasing an additional 955 shares during the last quarter. Doliver Advisors LP boosted its holdings in shares of Chicago Atlantic Real Estate Finance by 28.8% during the 3rd quarter. Doliver Advisors LP now owns 103,758 shares of the company's stock valued at $1,327,000 after acquiring an additional 23,170 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Chicago Atlantic Real Estate Finance by 6.8% during the 2nd quarter. Tidal Investments LLC now owns 32,737 shares of the company's stock valued at $457,000 after acquiring an additional 2,078 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Chicago Atlantic Real Estate Finance by 63.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 8,111 shares of the company's stock valued at $113,000 after acquiring an additional 3,163 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Chicago Atlantic Real Estate Finance by 4.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,275 shares of the company's stock valued at $325,000 after acquiring an additional 1,031 shares during the last quarter. 25.48% of the stock is owned by hedge funds and other institutional investors.

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.

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