Deutsche Bank AG Grows Stock Position in Chicago Atlantic Real Estate Finance, Inc. $REFI

Key Points

• Deutsche Bank AG increased its holdings in Chicago Atlantic Real Estate Finance by 689.4% during the first quarter, acquiring an additional 65,882 shares to own a total of 75,439 shares.
• The company announced a quarterly dividend of $0.47 per share, resulting in an annualized dividend yield of 13.0%, although its payout ratio stands at 102.73%.
• Analysts have downgraded the stock from a "hold" rating to a "strong sell," with a consensus rating of "hold" and an average target price set at $20.00.

Deutsche Bank AG boosted its stake in Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Free Report) by 689.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,439 shares of the company's stock after buying an additional 65,882 shares during the quarter. Deutsche Bank AG owned approximately 0.36% of Chicago Atlantic Real Estate Finance worth $1,109,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in Chicago Atlantic Real Estate Finance by 45.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,667 shares of the company's stock valued at $41,000 after buying an additional 838 shares during the last quarter. Larson Financial Group LLC raised its position in Chicago Atlantic Real Estate Finance by 269.2% in the 1st quarter. Larson Financial Group LLC now owns 2,920 shares of the company's stock valued at $43,000 after buying an additional 2,129 shares during the last quarter. Russell Investments Group Ltd. raised its position in Chicago Atlantic Real Estate Finance by 33.5% in the 4th quarter. Russell Investments Group Ltd. now owns 3,321 shares of the company's stock valued at $51,000 after buying an additional 833 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in Chicago Atlantic Real Estate Finance in the fourth quarter worth $86,000. Finally, GAMMA Investing LLC boosted its position in 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 worth $133,000 after purchasing an additional 8,754 shares during the last quarter. 25.48% of the stock is owned by hedge funds and other institutional investors.

Chicago Atlantic Real Estate Finance Stock Performance

NASDAQ:REFI traded up $0.11 during trading hours on Friday, reaching $14.24. The stock had a trading volume of 55,779 shares, compared to its average volume of 97,258. The stock has a 50 day simple moving average of $13.86 and a 200 day simple moving average of $14.50. Chicago Atlantic Real Estate Finance, Inc. has a 12-month low of $12.76 and a 12-month high of $16.29. The stock has a market cap of $300.18 million, a P/E ratio of 7.78 and a beta of 0.23.

Chicago Atlantic Real Estate Finance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 13.2%. The ex-dividend date of this dividend was Monday, June 30th. Chicago Atlantic Real Estate Finance's dividend payout ratio (DPR) is currently 102.73%.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut Chicago Atlantic Real Estate Finance from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 21st. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price 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.