Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Announces $0.47 Quarterly Dividend

Key Points

• Chicago Atlantic Real Estate Finance declared a $0.47 quarterly dividend, payable October 15 to shareholders of record September 30. The dividend implies $1.88 annually and a yield of approximately 17.1%.
• The dividend is currently supported by earnings, with a 90.0% payout ratio, but analysts expect the ratio could rise to 104.4% next year if projected earnings of $1.80 per share fall below the annual dividend.
• REFI reported quarterly earnings of $0.43 per share, missing the $0.48 consensus estimate, while revenue of $12.61 million also came in below expectations. Shares recently traded at $11.01, up 0.7%.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Get Free Report) announced a quarterly dividend on Wednesday, September 16th. Investors of record on Wednesday, September 30th will be given a dividend of 0.47 per share on Thursday, October 15th. This represents a c) annualized dividend and a yield of 17.1%. The ex-dividend date of this dividend is Wednesday, September 30th.

Chicago Atlantic Real Estate Finance has a dividend payout ratio of 90.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Research analysts expect Chicago Atlantic Real Estate Finance to earn $1.80 per share next year, which means the company may not be able to cover its $1.88 annual dividend with an expected future payout ratio of 104.4%.

Chicago Atlantic Real Estate Finance Trading Up 0.7%

REFI traded up $0.08 on Wednesday, reaching $11.01. The stock had a trading volume of 232,200 shares, compared to its average volume of 159,766. The business's 50-day moving average price is $10.49 and its two-hundred day moving average price is $11.21. The company has a market cap of $282.08 million, a P/E ratio of 8.04 and a beta of 0.26. Chicago Atlantic Real Estate Finance has a 12-month low of $9.69 and a 12-month high of $13.72.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI - Get Free Report) last announced its quarterly 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 during the quarter, compared to analysts' expectations of $14.17 million. Chicago Atlantic Real Estate Finance had a net margin of 54.57% and a return on equity of 11.53%. As a group, analysts predict that Chicago Atlantic Real Estate Finance will post 1.72 earnings per share for the current year.

Chicago Atlantic Real Estate Finance Company Profile

Chicago Atlantic Real Estate Finance, Inc is a specialty finance company organized as a real estate investment trust. The company originates, underwrites and manages commercial real estate debt investments, with a primary focus on providing financing to businesses operating in the state-legal cannabis industry.

Its investment activities are centered on senior secured loans, including mortgage loans backed by commercial real estate and other assets. These financings are designed to support cannabis cultivation, processing, retail and related properties, as well as other commercial real estate borrowers.

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