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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its holdings in Chicago Atlantic Real Estate Finance by 31.3% during the 4th quarter. Wells Fargo & Company MN now owns 10,194 shares of the company's stock valued at $157,000 after buying an additional 2,432 shares in the last quarter. Barclays PLC boosted its position in shares of Chicago Atlantic Real Estate Finance by 18.0% during the 4th quarter. Barclays PLC now owns 26,127 shares of the company's stock valued at $403,000 after acquiring an additional 3,984 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Chicago Atlantic Real Estate Finance by 45.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,667 shares of the company's stock valued at $41,000 after purchasing an additional 838 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Chicago Atlantic Real Estate Finance by 13.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,460 shares of the company's stock worth $578,000 after purchasing an additional 4,454 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Chicago Atlantic Real Estate Finance by 3.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 22,371 shares of the company's stock valued at $345,000 after purchasing an additional 687 shares in the last quarter. 25.48% of the stock is owned by institutional investors.

Chicago Atlantic Real Estate Finance Stock Performance

REFI traded up $0.10 on Wednesday, hitting $13.40. The company had a trading volume of 135,148 shares, compared to its average volume of 125,635. The stock has a market capitalization of $282.47 million, a price-to-earnings ratio of 7.32 and a beta of 0.24. The stock has a fifty day moving average price of $13.83 and a 200-day moving average price of $14.40. Chicago Atlantic Real Estate Finance, Inc. has a 12-month low of $12.76 and a 12-month high of $16.29.

Chicago Atlantic Real Estate Finance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 14.0%. Chicago Atlantic Real Estate Finance's dividend payout ratio is presently 102.73%.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered shares of Chicago Atlantic Real Estate Finance from a "hold" rating to a "strong sell" rating in a research report 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price 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.