Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Chicago Atlantic Real Estate Finance, Inc. $REFI

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 113,810 shares of the company's stock, valued at approximately $1,220,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.54% of Chicago Atlantic Real Estate Finance at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Strs Ohio bought a new stake in shares of Chicago Atlantic Real Estate Finance in the first quarter valued at about $47,000. Russell Investments Group Ltd. grew its holdings in shares of Chicago Atlantic Real Estate Finance by 29.2% during the second quarter. Russell Investments Group Ltd. now owns 3,552 shares of the company's stock worth $50,000 after buying an additional 803 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in Chicago Atlantic Real Estate Finance in the 4th quarter valued at approximately $53,000. PNC Financial Services Group Inc. lifted its stake in Chicago Atlantic Real Estate Finance by 290.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,183 shares of the company's stock valued at $70,000 after acquiring an additional 4,599 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Chicago Atlantic Real Estate Finance by 3,041.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,722 shares of the company's stock valued at $94,000 after acquiring an additional 6,508 shares in the last quarter. Institutional investors own 25.48% of the company's stock.

Analysts Set New Price Targets

REFI has been the subject of a number of recent research reports. Atlantic Securities set a $16.00 price target on shares of Chicago Atlantic Real Estate Finance in a research note on Wednesday, August 12th. Weiss Ratings raised shares of Chicago Atlantic Real Estate Finance from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. 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, August 12th. Finally, Citizens Jmp lowered their price target on shares of Chicago Atlantic Real Estate Finance from $18.00 to $16.00 and set a "market outperform" rating on the stock in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $15.33.

Insider Buying and Selling at Chicago Atlantic Real Estate Finance

In other Chicago Atlantic Real Estate Finance news, CEO Peter Sack purchased 3,500 shares of the firm's stock in a transaction on Wednesday, August 19th. The stock was purchased at an average cost of $10.45 per share, for a total transaction of $36,575.00. Following the transaction, the chief executive officer owned 123,356 shares in the company, valued at $1,289,070.20. The trade was a 2.92% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman John Mazarakis acquired 7,530 shares of the firm's stock in a transaction that occurred on Thursday, August 27th. The stock was bought at an average price of $10.67 per share, with a total value of $80,345.10. Following the completion of the acquisition, the chairman directly owned 526,562 shares of the company's stock, valued at $5,618,416.54. This trade represents a 1.45% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 122,856 shares of company stock worth $1,287,094 over the last quarter. Corporate insiders own 6.50% of the company's stock.

Chicago Atlantic Real Estate Finance Price Performance

REFI stock opened at $10.68 on Monday. The stock has a market capitalization of $273.63 million, a price-to-earnings ratio of 7.80 and a beta of 0.24. The business's fifty day moving average price is $10.50 and its two-hundred day moving average price is $11.30. Chicago Atlantic Real Estate Finance, Inc. has a fifty-two week low of $9.69 and a fifty-two week high of $14.57.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.48 by ($0.05). Chicago Atlantic Real Estate Finance had a net margin of 54.57% and a return on equity of 11.53%. The business had revenue of $12.61 million during the quarter, compared to the consensus estimate of $14.17 million. Research analysts expect that Chicago Atlantic Real Estate Finance, Inc. will post 1.72 EPS for the current year.

Chicago Atlantic Real Estate Finance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given 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 17.6%. Chicago Atlantic Real Estate Finance's dividend payout ratio (DPR) is currently 137.23%.

Chicago Atlantic Real Estate Finance 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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