Doliver Advisors LP Buys 34,400 Shares of Chicago Atlantic Real Estate Finance, Inc. $REFI

Key Points

• Doliver Advisors LP increased its stake in Chicago Atlantic Real Estate Finance by 74.5% in Q2, owning 80,588 shares worth approximately $1,125,000.
• Chicago Atlantic Real Estate Finance announced a quarterly dividend of $0.47, with a yield of 14.2% and a payout ratio of 102.73%.
• The stock received a downgrade from Zacks Research, which shifted its rating from "hold" to a "strong sell", impacting the consensus price target to $20.00.

Doliver Advisors LP boosted its position in shares of Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Free Report) by 74.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,588 shares of the company's stock after purchasing an additional 34,400 shares during the quarter. Doliver Advisors LP owned 0.38% of Chicago Atlantic Real Estate Finance worth $1,125,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen LLC acquired a new position in shares of Chicago Atlantic Real Estate Finance in the first quarter valued at approximately $531,000. GAMMA Investing LLC raised its position in shares of Chicago Atlantic Real Estate Finance by 2,908.3% in the first quarter. GAMMA Investing LLC now owns 9,055 shares of the company's stock valued at $133,000 after purchasing an additional 8,754 shares during the period. Sage Mountain Advisors LLC raised its position in shares of Chicago Atlantic Real Estate Finance by 26.4% in the first quarter. Sage Mountain Advisors LLC now owns 155,408 shares of the company's stock valued at $2,284,000 after purchasing an additional 32,476 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Chicago Atlantic Real Estate Finance by 260.8% in the first quarter. Nisa Investment Advisors LLC now owns 18,691 shares of the company's stock valued at $284,000 after acquiring an additional 13,511 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Chicago Atlantic Real Estate Finance by 52.7% in the fourth quarter. Millennium Management LLC now owns 48,957 shares of the company's stock valued at $755,000 after acquiring an additional 16,894 shares in the last quarter. Institutional investors and hedge funds own 25.48% of the company's stock.

Chicago Atlantic Real Estate Finance Price Performance

NASDAQ REFI traded up $0.21 during trading hours on Thursday, reaching $13.66. The company's stock had a trading volume of 39,064 shares, compared to its average volume of 129,505. The firm has a fifty day simple moving average of $13.76 and a 200-day simple moving average of $14.31. The stock has a market cap of $287.85 million, a P/E ratio of 7.44 and a beta of 0.24. Chicago Atlantic Real Estate Finance, Inc. has a 52 week low of $12.76 and a 52 week high of $16.29.

Chicago Atlantic Real Estate Finance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.47 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.88 annualized dividend and a yield of 13.8%. Chicago Atlantic Real Estate Finance's dividend payout ratio (DPR) is presently 102.73%.

Analyst Ratings Changes

Separately, Zacks Research downgraded shares of Chicago Atlantic Real Estate Finance from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 21st. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $20.00.

About Chicago Atlantic Real Estate Finance

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.