David Kite Acquires 2,500 Shares of Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Stock

Key Points

• David Kite, COO of Chicago Atlantic Real Estate Finance, acquired 2,500 shares of the company's stock at an average price of $12.31 per share, increasing his ownership by 4.59% to a total of 57,016 shares valued at approximately $701,867.
• Chicago Atlantic Real Estate Finance's stock is currently trading at $12.45, down 2.0%, with a market cap of $262.45 million and a price-to-earnings ratio of 6.80.
• The company recently announced a quarterly dividend of $0.47, resulting in a high dividend yield of 15.1%, despite a payout ratio of 102.73%.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Get Free Report) COO David Kite purchased 2,500 shares of the firm's stock in a transaction on Tuesday, October 14th. The shares were purchased at an average cost of $12.31 per share, for a total transaction of $30,775.00. Following the completion of the purchase, the chief operating officer directly owned 57,016 shares in the company, valued at $701,866.96. The trade was a 4.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Chicago Atlantic Real Estate Finance Stock Down 2.0%

Shares of NASDAQ:REFI traded down $0.26 during midday trading on Thursday, reaching $12.45. The company's stock had a trading volume of 148,038 shares, compared to its average volume of 133,897. The firm has a market cap of $262.45 million, a price-to-earnings ratio of 6.80 and a beta of 0.21. The business has a 50 day moving average price of $13.52 and a 200 day moving average price of $13.92. Chicago Atlantic Real Estate Finance, Inc. has a 1 year low of $12.00 and a 1 year high of $16.29.

Chicago Atlantic Real Estate Finance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.88 annualized dividend and a dividend yield of 15.1%. Chicago Atlantic Real Estate Finance's dividend payout ratio (DPR) is currently 102.73%.

Analysts Set New Price Targets

REFI has been the topic of several research analyst reports. Weiss Ratings reissued a "hold (c-)" rating on shares of Chicago Atlantic Real Estate Finance in a research report on Wednesday, October 8th. Zacks Research raised shares of Chicago Atlantic Real Estate Finance from a "strong sell" rating to a "hold" rating in a research report on Friday, October 10th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $20.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nuveen LLC acquired a new position in Chicago Atlantic Real Estate Finance during the first quarter valued at approximately $531,000. GAMMA Investing LLC lifted its position in Chicago Atlantic Real Estate Finance by 2,908.3% during the first quarter. GAMMA Investing LLC now owns 9,055 shares of the company's stock valued at $133,000 after buying an additional 8,754 shares in the last quarter. Sage Mountain Advisors LLC lifted its position in Chicago Atlantic Real Estate Finance by 26.4% during the first quarter. Sage Mountain Advisors LLC now owns 155,408 shares of the company's stock valued at $2,284,000 after buying an additional 32,476 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Chicago Atlantic Real Estate Finance by 260.8% during the first quarter. Nisa Investment Advisors LLC now owns 18,691 shares of the company's stock valued at $284,000 after buying an additional 13,511 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Chicago Atlantic Real Estate Finance by 689.4% during the first quarter. Deutsche Bank AG now owns 75,439 shares of the company's stock valued at $1,109,000 after purchasing an additional 65,882 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 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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