BlackRock Inc. acquired a new position in shares of Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 1,719,049 shares of the company's stock, valued at approximately $18,428,000. BlackRock Inc. owned approximately 8.10% of Chicago Atlantic Real Estate Finance at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Deutsche Bank AG acquired a new position in Chicago Atlantic Real Estate Finance in the 2nd quarter valued at $198,000. Fielder Capital Group LLC purchased a new stake in Chicago Atlantic Real Estate Finance during the 2nd quarter valued at about $10,530,000. Bank of New York Mellon Corp acquired a new stake in Chicago Atlantic Real Estate Finance in the 2nd quarter valued at about $571,000. Everett Harris & Co. CA purchased a new position in Chicago Atlantic Real Estate Finance in the 2nd quarter worth approximately $197,000. Finally, Empowered Funds LLC acquired a new stake in shares of Chicago Atlantic Real Estate Finance in the first quarter valued at approximately $226,000. Institutional investors and hedge funds own 25.48% of the company's stock.
Chicago Atlantic Real Estate Finance Price Performance
REFI stock opened at $10.86 on Friday. The firm has a market cap of $278.23 million, a price-to-earnings ratio of 7.93 and a beta of 0.26. Chicago Atlantic Real Estate Finance, Inc. has a 1-year low of $9.69 and a 1-year high of $14.57. The firm has a fifty day moving average price of $10.49 and a two-hundred day moving average price of $11.27.
Chicago Atlantic Real Estate Finance (NASDAQ:REFI - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $12.61 million during the quarter, compared to analyst estimates 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 expect that Chicago Atlantic Real Estate Finance, Inc. will post 1.72 EPS for the current fiscal year.
Chicago Atlantic Real Estate Finance Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.47 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.88 dividend on an annualized basis and a yield of 17.3%. Chicago Atlantic Real Estate Finance's dividend payout ratio is currently 137.23%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. Atlantic Securities set a $16.00 price objective on Chicago Atlantic Real Estate Finance in a research report on Wednesday, August 12th. Weiss Ratings raised Chicago Atlantic Real Estate Finance from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Citigroup reiterated a "market outperform" rating on shares of Chicago Atlantic Real Estate Finance in a research note on Wednesday, August 12th. Citizens Jmp reduced their price objective on Chicago Atlantic Real Estate Finance from $18.00 to $16.00 and set a "market outperform" rating for the company in a research note on Wednesday, August 12th. Finally, Zacks Research downgraded shares of Chicago Atlantic Real Estate Finance from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Chicago Atlantic Real Estate Finance currently has an average rating of "Hold" and a consensus target price of $15.33.
Read Our Latest Stock Report on Chicago Atlantic Real Estate Finance
Insider Buying and Selling
In other Chicago Atlantic Real Estate Finance news, Chairman John Mazarakis purchased 7,530 shares of the company's stock in a transaction on Thursday, August 27th. The shares were bought at an average cost of $10.67 per share, with a total value of $80,345.10. Following the transaction, the chairman directly owned 526,562 shares in the company, valued at approximately $5,618,416.54. This represents a 1.45% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Anthony Cappell purchased 45,000 shares of the firm's stock in a transaction on Monday, August 17th. The stock was bought at an average price of $10.40 per share, for a total transaction of $468,000.00. Following the completion of the transaction, the chief executive officer directly owned 466,706 shares in the company, valued at approximately $4,853,742.40. The trade was a 10.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 122,856 shares of company stock worth $1,287,094. 6.50% of the stock is currently owned by insiders.
Chicago Atlantic Real Estate Finance Profile
(
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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Want to see what other hedge funds are holding REFI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Free Report).
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