Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Chairman John Mazarakis Purchases 7,500 Shares

Key Points

• John Mazarakis, Chairman of Chicago Atlantic Real Estate Finance, purchased 7,500 shares at an average price of $12.43, increasing his ownership to 408,607 shares.
• The company announced a quarterly dividend of $0.47, with a yield of 14.7%, despite a payout ratio of 102.73%.
• Institutional investors have increased their stakes in the company, with notable increases from Tidal Investments and BNP Paribas Financial Markets in the second quarter.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Get Free Report) Chairman John Mazarakis acquired 7,500 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were bought at an average cost of $12.43 per share, with a total value of $93,225.00. Following the completion of the acquisition, the chairman directly owned 408,607 shares in the company, valued at approximately $5,078,985.01. This represents a 1.87% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Chicago Atlantic Real Estate Finance Stock Performance

REFI traded up $0.21 during midday trading on Thursday, reaching $12.80. 76,367 shares of the company were exchanged, compared to its average volume of 131,740. The company's fifty day moving average price is $13.67 and its 200 day moving average price is $14.12. The company has a market cap of $269.72 million, a price-to-earnings ratio of 6.99 and a beta of 0.22. Chicago Atlantic Real Estate Finance, Inc. has a one year low of $12.33 and a one year high of $16.29.

Chicago Atlantic Real Estate Finance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.88 annualized dividend and a dividend yield of 14.7%. Chicago Atlantic Real Estate Finance's dividend payout ratio is currently 102.73%.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

Several institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC lifted its position in shares of Chicago Atlantic Real Estate Finance by 6.8% during the second quarter. Tidal Investments LLC now owns 32,737 shares of the company's stock worth $457,000 after acquiring an additional 2,078 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Chicago Atlantic Real Estate Finance by 63.9% during the second quarter. BNP Paribas Financial Markets now owns 8,111 shares of the company's stock worth $113,000 after acquiring an additional 3,163 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Chicago Atlantic Real Estate Finance by 4.6% during the second quarter. The Manufacturers Life Insurance Company now owns 23,275 shares of the company's stock worth $325,000 after acquiring an additional 1,031 shares in the last quarter. Transce3nd LLC purchased a new stake in shares of Chicago Atlantic Real Estate Finance during the second quarter worth $47,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Chicago Atlantic Real Estate Finance by 3,041.1% in the second quarter. EverSource Wealth Advisors LLC now owns 6,722 shares of the company's stock worth $94,000 after buying an additional 6,508 shares in the last quarter. Hedge funds and other institutional investors own 25.48% of the company's stock.

Analysts Set New Price Targets

Separately, Zacks Research lowered Chicago Atlantic Real Estate Finance from a "hold" rating to a "strong sell" rating in a report on Thursday, August 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently 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.

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