Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Downgraded to Strong Sell Rating by Zacks Research

Key Points

• Chicago Atlantic Real Estate Finance has been downgraded from a "hold" to a "strong sell" rating by Zacks Research, indicating a negative outlook for the stock.
• The company's stock opened at $14.42, with a recent market capitalization of approximately $303.97 million and a price-to-earnings ratio of 7.88.
• Institutional investors, including Geode Capital Management and Russell Investments Group, have increased their stakes in the company, suggesting continued interest despite the downgrade.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Thursday,Zacks.com reports.

Chicago Atlantic Real Estate Finance Stock Performance

NASDAQ:REFI opened at $14.42 on Thursday. The company has a 50-day moving average of $13.86 and a 200-day moving average of $14.55. The company has a market capitalization of $303.97 million, a price-to-earnings ratio of 7.88 and a beta of 0.23. Chicago Atlantic Real Estate Finance has a 52 week low of $12.76 and a 52 week high of $16.29.

Hedge Funds Weigh In On Chicago Atlantic Real Estate Finance

Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Chicago Atlantic Real Estate Finance by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 12,982 shares of the company's stock valued at $201,000 after purchasing an additional 663 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Chicago Atlantic Real Estate Finance by 3.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 22,371 shares of the company's stock valued at $345,000 after purchasing an additional 687 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Chicago Atlantic Real Estate Finance by 29.2% during the 2nd 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 during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Chicago Atlantic Real Estate Finance by 45.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,667 shares of the company's stock valued at $41,000 after purchasing an additional 838 shares during the last quarter. Finally, Martingale Asset Management L P lifted its holdings in Chicago Atlantic Real Estate Finance by 4.9% during the 1st quarter. Martingale Asset Management L P now owns 19,241 shares of the company's stock valued at $283,000 after purchasing an additional 901 shares during the last quarter. 25.48% of the stock is owned by 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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