Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Releases Earnings Results, Misses Estimates By $0.05 EPS

Key Points

• Chicago Atlantic Real Estate Finance reported quarterly EPS of $0.43, missing the $0.48 analyst consensus by $0.05. Revenue was $12.61 million, below expectations of $14.17 million.
• The company paid a quarterly dividend of $0.47 per share, equivalent to an annualized $1.88 dividend and an 18.3% yield; its payout ratio was 130.56%.
• Analyst sentiment has weakened, with recent downgrades resulting in an average “Reduce” rating and a $14 consensus price target. REFI shares opened at $10.25, while institutional investors own 25.48% of the stock.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI - Get Free Report) issued its earnings results on Tuesday. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.05), FiscalAI reports. Chicago Atlantic Real Estate Finance had a return on equity of 11.98% and a net margin of 55.54%.The business had revenue of $12.61 million during the quarter, compared to the consensus estimate of $14.17 million.

Chicago Atlantic Real Estate Finance Stock Performance

Shares of REFI stock opened at $10.25 on Tuesday. The stock's 50 day simple moving average is $10.71 and its 200 day simple moving average is $11.47. Chicago Atlantic Real Estate Finance has a twelve month low of $9.69 and a twelve month high of $14.57. The company has a market capitalization of $217.49 million, a price-to-earnings ratio of 7.08 and a beta of 0.24.

Chicago Atlantic Real Estate Finance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 18.3%. The ex-dividend date was Tuesday, June 30th. Chicago Atlantic Real Estate Finance's dividend payout ratio is 130.56%.

Wall Street Analyst Weigh In

REFI has been the subject of a number of recent analyst reports. Weiss Ratings lowered Chicago Atlantic Real Estate Finance from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, June 16th. Zacks Research lowered Chicago Atlantic Real Estate Finance from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $14.00.

Institutional Trading of Chicago Atlantic Real Estate Finance

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC bought a new position in Chicago Atlantic Real Estate Finance in the 1st quarter worth $186,000. Strs Ohio bought a new position in Chicago Atlantic Real Estate Finance in the 1st quarter worth approximately $47,000. Geode Capital Management LLC grew its stake in shares of Chicago Atlantic Real Estate Finance by 8.5% in the second quarter. Geode Capital Management LLC now owns 18,367 shares of the company's stock worth $257,000 after acquiring an additional 1,446 shares during the last quarter. Rhumbline Advisers raised its stake in Chicago Atlantic Real Estate Finance by 12.7% during the 2nd quarter. Rhumbline Advisers now owns 26,513 shares of the company's stock valued at $370,000 after purchasing an additional 2,993 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Chicago Atlantic Real Estate Finance by 29.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,552 shares of the company's stock worth $50,000 after purchasing an additional 803 shares during the last quarter. 25.48% of the stock is currently owned by institutional investors and hedge funds.

Chicago Atlantic Real Estate Finance Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source