Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Get Free Report) shares dropped 2.2% during trading on Wednesday . The stock traded as low as $9.85 and last traded at $9.87. 146,986 shares were traded during trading, an increase of 2% from the average session volume of 144,249 shares. The stock had previously closed at $10.09.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on REFI shares. Zacks Research upgraded Chicago Atlantic Real Estate Finance from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 6th. Weiss Ratings lowered shares of Chicago Atlantic Real Estate Finance from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $14.00.
View Our Latest Report on REFI
Chicago Atlantic Real Estate Finance Stock Down 2.2%
The firm has a market capitalization of $209.34 million, a PE ratio of 6.85 and a beta of 0.23. The business's fifty day moving average price is $10.93 and its 200 day moving average price is $11.62.
Chicago Atlantic Real Estate Finance (NASDAQ:REFI - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.02). The company had revenue of $12.92 million for the quarter, compared to analysts' expectations of $13.69 million. Chicago Atlantic Real Estate Finance had a return on equity of 11.98% and a net margin of 55.54%. On average, analysts anticipate that Chicago Atlantic Real Estate Finance, Inc. will post 1.72 earnings per share for the current year.
Chicago Atlantic Real Estate Finance Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 19.0%. The ex-dividend date of this dividend was Tuesday, June 30th. Chicago Atlantic Real Estate Finance's dividend payout ratio (DPR) is presently 130.56%.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Chicago Atlantic Real Estate Finance by 2.1% during the third quarter. Vanguard Group Inc. now owns 940,997 shares of the company's stock worth $12,035,000 after purchasing an additional 19,227 shares during the last quarter. Fielder Capital Group LLC grew its position 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 buying an additional 22,743 shares during the last quarter. Clayton Partners LLC increased its stake in Chicago Atlantic Real Estate Finance by 52.9% in the 4th quarter. Clayton Partners LLC now owns 211,000 shares of the company's stock valued at $2,587,000 after buying an additional 73,037 shares during the period. Van ECK Associates Corp increased its stake in Chicago Atlantic Real Estate Finance by 5.0% in the 3rd quarter. Van ECK Associates Corp now owns 198,812 shares of the company's stock valued at $2,543,000 after buying an additional 9,426 shares during the period. Finally, Millennium Management LLC increased its stake in Chicago Atlantic Real Estate Finance by 16.9% in the 3rd quarter. Millennium Management LLC now owns 184,697 shares of the company's stock valued at $2,362,000 after buying an additional 26,751 shares during the period. Institutional investors and hedge funds own 25.48% of the company's stock.
About Chicago Atlantic Real Estate Finance
(
Get Free Report)
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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