Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Chairman John Mazarakis Buys 40,181 Shares of Stock

Key Points

• Chairman John Mazarakis purchased 40,181 REFI shares at an average of $10.67 each, investing approximately $428,731 and increasing his ownership by 8.39% to 519,032 shares. He also made three additional purchases in August.
• REFI shares recently traded at $10.70, well below their 12-month high of $14.57. The company missed quarterly earnings and revenue expectations, reporting $0.43 in EPS and $12.61 million in revenue.
• The company pays a quarterly dividend of $0.47 per share, equivalent to a 17.6% annualized yield, while analysts maintain a consensus “Hold” rating with a $15.33 price target.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Get Free Report) Chairman John Mazarakis purchased 40,181 shares of the business's stock in a transaction on Wednesday, August 26th. The shares were bought at an average cost of $10.67 per share, for a total transaction of $428,731.27. Following the purchase, the chairman owned 519,032 shares of the company's stock, valued at $5,538,071.44. This trade represents a 8.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

John Mazarakis also recently made the following trade(s):

• On Thursday, August 27th, John Mazarakis purchased 7,530 shares of Chicago Atlantic Real Estate Finance stock. The stock was bought at an average price of $10.67 per share, for a total transaction of $80,345.10.
• On Friday, August 21st, John Mazarakis acquired 145 shares of Chicago Atlantic Real Estate Finance stock. The shares were bought at an average cost of $10.67 per share, with a total value of $1,547.15.
• On Monday, August 17th, John Mazarakis acquired 25,000 shares of Chicago Atlantic Real Estate Finance stock. The shares were purchased at an average price of $10.25 per share, with a total value of $256,250.00.

Chicago Atlantic Real Estate Finance Stock Performance

Shares of REFI traded up $0.03 during trading hours on Friday, hitting $10.70. The stock had a trading volume of 129,789 shares, compared to its average volume of 158,633. The firm has a market cap of $274.14 million, a P/E ratio of 7.81 and a beta of 0.24. The company's fifty day simple moving average is $10.52 and its 200 day simple moving average is $11.31. Chicago Atlantic Real Estate Finance, Inc. has a 12-month low of $9.69 and a 12-month high of $14.57.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $12.61 million for the quarter, compared to analysts' expectations of $14.17 million. Chicago Atlantic Real Estate Finance had a net margin of 54.57% and a return on equity of 11.53%. As a group, sell-side analysts predict that Chicago Atlantic Real Estate Finance, Inc. will post 1.72 earnings per share for the current fiscal year.

Chicago Atlantic Real Estate Finance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.47 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 17.6%. Chicago Atlantic Real Estate Finance's payout ratio is presently 137.23%.

Analyst Ratings Changes

REFI has been the topic of several research reports. Citigroup restated a "market outperform" rating on shares of Chicago Atlantic Real Estate Finance in a report on Wednesday, August 12th. Atlantic Securities set a $16.00 price objective on shares of Chicago Atlantic Real Estate Finance in a research note on Wednesday, August 12th. Zacks Research lowered shares of Chicago Atlantic Real Estate Finance from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Citizens Jmp cut their target price 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. Finally, 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. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $15.33.

Hedge Funds Weigh In On Chicago Atlantic Real Estate Finance

Several hedge funds and other institutional investors have recently bought and sold shares of REFI. Clayton Partners LLC grew its position in Chicago Atlantic Real Estate Finance by 52.9% in the fourth quarter. Clayton Partners LLC now owns 211,000 shares of the company's stock valued at $2,587,000 after acquiring an additional 73,037 shares in the last quarter. Fielder Capital Group LLC acquired a new position in shares of Chicago Atlantic Real Estate Finance during the second quarter worth $10,530,000. Odyssean LLC boosted its stake in shares of Chicago Atlantic Real Estate Finance by 387.8% in the second quarter. Odyssean LLC now owns 63,292 shares of the company's stock valued at $678,000 after purchasing an additional 50,317 shares during the period. Strs Ohio purchased a new position in shares of Chicago Atlantic Real Estate Finance in the first quarter valued at $47,000. Finally, Bank of New York Mellon Corp acquired a new stake in Chicago Atlantic Real Estate Finance during the 2nd quarter valued at $571,000. 25.48% of the stock is owned by institutional investors and hedge funds.

Chicago Atlantic Real Estate Finance Company 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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