Nuveen LLC Invests $531,000 in Chicago Atlantic Real Estate Finance, Inc. $REFI

Key Points

• Nuveen LLC has made a new investment of $531,000 in Chicago Atlantic Real Estate Finance, acquiring approximately 36,099 shares of the company's stock.
• The company recently declared a quarterly dividend of $0.47 per share, representing an annualized dividend of $1.88 and a dividend yield of 13.1%.
• Wall Street analysts have mixed opinions, with Zacks Research downgrading the stock from a "hold" to a "strong sell" rating, while the average price target remains at $20.00.

Nuveen LLC purchased a new stake in Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 36,099 shares of the company's stock, valued at approximately $531,000. Nuveen LLC owned about 0.17% of Chicago Atlantic Real Estate Finance at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Fielder Capital Group LLC lifted its stake in shares of Chicago Atlantic Real Estate Finance by 11.5% during the 1st quarter. Fielder Capital Group LLC now owns 751,620 shares of the company's stock worth $11,049,000 after buying an additional 77,334 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Chicago Atlantic Real Estate Finance by 689.4% during the 1st quarter. Deutsche Bank AG now owns 75,439 shares of the company's stock worth $1,109,000 after buying an additional 65,882 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Chicago Atlantic Real Estate Finance by 88.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,198 shares of the company's stock worth $1,679,000 after buying an additional 53,498 shares during the last quarter. Sage Mountain Advisors LLC lifted its stake in shares of Chicago Atlantic Real Estate Finance by 26.4% during the 1st quarter. Sage Mountain Advisors LLC now owns 155,408 shares of the company's stock worth $2,284,000 after buying an additional 32,476 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Chicago Atlantic Real Estate Finance during the 4th quarter worth about $305,000. Institutional investors and hedge funds own 25.48% of the company's stock.

Chicago Atlantic Real Estate Finance Stock Down 3.6%

Shares of REFI traded down $0.52 during mid-day trading on Tuesday, hitting $13.74. 536,219 shares of the company's stock were exchanged, compared to its average volume of 127,638. Chicago Atlantic Real Estate Finance, Inc. has a 52 week low of $12.76 and a 52 week high of $16.29. The stock's 50-day simple moving average is $13.86 and its 200-day simple moving average is $14.41. The firm has a market cap of $289.53 million, a price-to-earnings ratio of 7.51 and a beta of 0.24.

Chicago Atlantic Real Estate Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.88 annualized dividend and a dividend yield of 13.7%. Chicago Atlantic Real Estate Finance's dividend payout ratio (DPR) is currently 102.73%.

Analysts Set New Price Targets

Separately, Zacks Research cut 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 research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $20.00.

Chicago Atlantic Real Estate Finance Company Profile

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.