Citizens Jmp Cuts Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Price Target to $16.00

Key Points

• Citizens JMP lowered Chicago Atlantic Real Estate Finance’s price target from $18 to $16 while maintaining a “market outperform” rating, implying approximately 54.7% upside from the current price.
• Analyst sentiment is mixed: REFI has a consensus “Hold” rating and an average price target of $15.33, with two Buy, two Hold, and one Sell rating.
• The company’s latest quarterly results fell short of expectations, reporting $0.43 in earnings per share versus a $0.48 consensus estimate and revenue of $12.61 million versus $14.17 million expected.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI - Get Free Report) had its target price reduced by Citizens Jmp from $18.00 to $16.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. Citizens Jmp's price objective suggests a potential upside of 54.74% from the stock's current price.

A number of other analysts have also recently weighed in on REFI. Zacks Research cut shares of Chicago Atlantic Real Estate Finance from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Citigroup reaffirmed a "market outperform" rating on shares of Chicago Atlantic Real Estate Finance in a research report on Wednesday. Weiss Ratings lowered 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. Finally, Atlantic Securities set a $16.00 price target on shares of Chicago Atlantic Real Estate Finance in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $15.33.

Chicago Atlantic Real Estate Finance Stock Performance

REFI opened at $10.34 on Wednesday. Chicago Atlantic Real Estate Finance has a one year low of $9.69 and a one year high of $14.57. The company has a market cap of $219.31 million, a P/E ratio of 7.18 and a beta of 0.24. The business's 50-day simple moving average is $10.69 and its 200-day simple moving average is $11.46.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.05). The business had revenue of $12.61 million for the quarter, compared to analyst estimates of $14.17 million. Chicago Atlantic Real Estate Finance had a return on equity of 11.98% and a net margin of 55.54%. As a group, analysts predict that Chicago Atlantic Real Estate Finance will post 1.72 earnings per share for the current fiscal year.

Institutional Trading of Chicago Atlantic Real Estate Finance

Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in Chicago Atlantic Real Estate Finance by 29.2% in the second quarter. Russell Investments Group Ltd. now owns 3,552 shares of the company's stock worth $50,000 after acquiring an additional 803 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in Chicago Atlantic Real Estate Finance by 1.0% in the fourth quarter. Osaic Holdings Inc. now owns 84,478 shares of the company's stock valued at $1,036,000 after acquiring an additional 862 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Chicago Atlantic Real Estate Finance by 1.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 49,895 shares of the company's stock worth $612,000 after purchasing an additional 897 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Chicago Atlantic Real Estate Finance by 4.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,275 shares of the company's stock worth $325,000 after purchasing an additional 1,031 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Chicago Atlantic Real Estate Finance by 8.5% during the 2nd quarter. Geode Capital Management LLC now owns 18,367 shares of the company's stock worth $257,000 after purchasing an additional 1,446 shares during the period. 25.48% of the stock is 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.

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