Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Lowered to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded Chicago Atlantic Real Estate Finance from “strong buy” to “hold,” while Weiss Ratings separately lowered its rating to “sell.” The stock has an overall “Reduce” consensus rating and a $14 average price target.
• REFI shares opened at $9.93, near their 52-week low of $9.69, and were down 0.7%. The company recently reported quarterly EPS of $0.46, below the $0.48 consensus estimate, while revenue of $12.92 million also missed expectations.
• Institutional investors own 25.48% of the company, with several funds—including Clayton Partners and JPMorgan Chase—recently increasing their positions.

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

Separately, Weiss Ratings cut shares of Chicago Atlantic Real Estate Finance from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $14.00.

Chicago Atlantic Real Estate Finance Trading Down 0.7%

REFI stock opened at $9.93 on Tuesday. The firm has a market capitalization of $210.62 million, a PE ratio of 6.90 and a beta of 0.24. Chicago Atlantic Real Estate Finance has a 1-year low of $9.69 and a 1-year high of $14.57. The business's 50 day simple moving average is $10.78 and its 200 day simple moving average is $11.52.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). Chicago Atlantic Real Estate Finance had a net margin of 55.54% and a return on equity of 11.98%. The business had revenue of $12.92 million for the quarter, compared to analyst estimates of $13.69 million. As a group, sell-side analysts predict that Chicago Atlantic Real Estate Finance will post 1.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Clayton Partners LLC grew its stake in shares of Chicago Atlantic Real Estate Finance by 52.9% in the fourth quarter. Clayton Partners LLC now owns 211,000 shares of the company's stock valued at $2,587,000 after acquiring an additional 73,037 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Chicago Atlantic Real Estate Finance in the 4th quarter worth about $109,000. HighTower Advisors LLC boosted its holdings in Chicago Atlantic Real Estate Finance by 3.8% in the 4th quarter. HighTower Advisors LLC now owns 97,258 shares of the company's stock valued at $1,192,000 after purchasing an additional 3,570 shares during the period. Fielder Capital Group LLC boosted its holdings in Chicago Atlantic Real Estate Finance by 2.8% in the 4th quarter. Fielder Capital Group LLC now owns 832,168 shares of the company's stock valued at $10,202,000 after purchasing an additional 22,743 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Chicago Atlantic Real Estate Finance by 123.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 47,909 shares of the company's stock worth $613,000 after purchasing an additional 26,458 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 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.

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