Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Director Jason Papastavrou Buys 10,000 Shares

Key Points

• Director Jason Papastavrou of Chicago Atlantic Real Estate Finance (NASDAQ:REFI) purchased 10,000 shares at $12.62 each, increasing his stake by 25.29% to a total of 49,546 shares valued at approximately $625,270.
• The company declared a quarterly dividend of $0.47 per share, translating to an annualized yield of 15.1%, despite having a dividend payout ratio of 102.73%.
• Equities research analysts have recently rated REFI shares with a consensus of "Moderate Buy" and a consensus price target of $20.00, indicating potential for future growth.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Get Free Report) Director Jason Papastavrou purchased 10,000 shares of the company's stock in a transaction that occurred on Wednesday, October 15th. The shares were purchased at an average cost of $12.62 per share, with a total value of $126,200.00. Following the completion of the purchase, the director owned 49,546 shares in the company, valued at $625,270.52. This trade represents a 25.29% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Chicago Atlantic Real Estate Finance Trading Down 2.0%

Shares of REFI stock traded down $0.26 during trading hours on Thursday, reaching $12.45. 148,038 shares of the stock were exchanged, compared to its average volume of 133,897. Chicago Atlantic Real Estate Finance, Inc. has a 12-month low of $12.00 and a 12-month high of $16.29. The company's 50-day moving average price is $13.52 and its 200-day moving average price is $13.92. The firm has a market capitalization of $262.45 million, a price-to-earnings ratio of 6.80 and a beta of 0.21.

Chicago Atlantic Real Estate Finance Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Chicago Atlantic Real Estate Finance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC grew its position in Chicago Atlantic Real Estate Finance by 79.3% during the third quarter. CWM LLC now owns 2,160 shares of the company's stock valued at $28,000 after buying an additional 955 shares during the period. Larson Financial Group LLC lifted its holdings in Chicago Atlantic Real Estate Finance by 269.2% during the first quarter. Larson Financial Group LLC now owns 2,920 shares of the company's stock valued at $43,000 after purchasing an additional 2,129 shares in the last quarter. Strs Ohio purchased a new position in Chicago Atlantic Real Estate Finance during the first quarter valued at $47,000. Transce3nd LLC purchased a new position in Chicago Atlantic Real Estate Finance during the second quarter valued at $47,000. Finally, Russell Investments Group Ltd. lifted its holdings in Chicago Atlantic Real Estate Finance by 29.2% during the second quarter. Russell Investments Group Ltd. now owns 3,552 shares of the company's stock valued at $50,000 after purchasing an additional 803 shares in the last quarter. 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 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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